Amazon Rides on Pandemic-Induced Demand to Grow Revenues 44% in Q1
Amazon posted a first quarter revenue of $108.5 billion, a 44% jump from the same period last year, according to the company’s press release. Net income in the quarter more…
Antitrust Crackdown to Cost China’s Internet Giant Tencent More than 10 Billion Yuan
China’s internet giant Tencent faces more than 10 billion yuan or $1.54 million penalty for failing to report past business deals, according to Reuters. Tencent is also accused of anticompetitive…
Jobless Claims Falls by 13,000 to Signal Labor Market Recoveries
US jobless claims for the week ending April 24 came at 553,000, down 13,000 from the previous week revised level, according to the Department of Labor press release. The jobless…
U.S Economy Grew by 6.4% in the First Quarter but Fails to Meet Estimates
The US recorded an annual rate of growth of 6.4% in Q1 2021, less than the expected 6.5% according to the Bureau of Economic Analysis press release. First-quarter growth reflected…
Samsung Grows Revenues by 6% In the First Quarter Amid Chip Shortages
Samsung Electronics had revenue of KRW 65.39 trillion in Q121, a record 6% jump from the previous quarter, according to the company’s press release. Operating profit gained 4% from the…
Fed Remains Dovish in Statement Amid Signs of Economic Recovery
The Federal Reserve maintained near zero interest rates and retained the pace of asset repurchases, according to the statement. The central bank acknowledged uptick in economic recovery. Fed chair Jerome…
Shell Raises Dividend by 4% After Earnings Beat Estimates in the First Quarter
Shell raised its dividend by about 4% for a second time in six months after Q1 earnings of $3.2 billion, according to the company’s press release. The earnings were a…
Moderna Plans to Raise Coronavirus Vaccine Doses up to 3 Billion by 2022
Moderna is funding plans to raise the global supply of COVID-19 vaccine to 3 billion doses by 2022, according to the company’s press release. The company has also raised its…
Facebook’s First Quarter Revenue +48% YoY
Facebook recorded a revenue of $26.171 billion in the first quarter of 2021, up 48% from the same quarter of 2020, according to the company’s press release. Diluted earnings per…
Apple Records a 54% Jump in Revenue in Q2 Ending March
Apple’s revenue rose by a record 54% year over year to $89.6 billion in the quarter ending March, according to the company’s press release. 67% of the quarter’s revenue was…
Zip Run Partners with AeroPay for Seamless Cannabis Delivery and Payments
Cannabis delivery entity Zip Run has partnered with payments platform AeroPay to accelerate cannabis supply, according to Benzinga. The partnership will start in Massachusetts before rolling out. The agreement will…
Snap Floats 0% Convertible Senior Notes to Raise $988.3 Million
Snap Inc. raised $988.3 million from $1 billion 0% convertible senior notes, according to Benzinga. The notes, due 2027, were issued in a secondary private institutional placement. The initial buyers…
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