Earnings

Okta acquires cloud identity startup Auth0 for $6.5B

As Okta announced earnings today after the bell, it revealed that it’s buying cloud identity startup Auth0 for a hefty $6.5 billion. The company had a valuation of $1.92 billion when it raised $

Salesforce delivers, Wall Street doubts as stock falls 6.3% post-earnings

Wall Street investors can be fickle beasts. Take Salesforce as an example. The CRM giant announced a $5.82 billion quarter when it reported earnings yesterday. Revenue was up 20% year over year. The c

Jumia co-CEO Jeremy Hodara talks African e-commerce and his company’s path to profitability

This month, African e-commerce giant Jumia released its second full-year financials for Q4 and its fiscal year 2020. The results were mixed — active customers and gross profit increased, while o

Zynga CEO says he’s on the lookout for more acquisitions

If you’re wondering why Zynga issued $875 million in convertible notes at the end of 2020, CEO Frank Gibeau said the company was fundraising to build up a “war chest” for more acquis

Peloton will pump $100M into delivery logistics to ease supply concerns

This probably falls under “good problems,” in the grand scheme of things. After another record quarter, Peloton has announced that it will invest more than $100 million in air and ocean freight de

Alibaba Cloud turns profitable after 11 years

Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba, became profitable for the first time in the December quarter, the company announced in its earnings report. The firm’s

Google Cloud lost $5.6B in 2020

Google continues to bet heavily on Google Cloud, and, while it is seeing accelerated revenue growth, its losses are also increasing. For the first time today, Google disclosed operating income/loss fo

Jeff Bezos will no longer be CEO of Amazon as of later this year

Amazon founder and current CEO Jeff Bezos will be transitioning to executive chair of the company sometime in Q3 of this year, with current AWS CEO Andy Jassy taking over the top executive role at the

Facebook predicts ‘significant’ obstacles to ad targeting and revenue in 2021

While Facebook’s fourth quarter earnings report included solid user and revenue numbers, the company sounded a note of caution for 2021. In the “CFO outlook” section of the earnings

IBM transformation struggles continue with cloud and AI revenue down 4.5%

A couple of months ago at CNBC’s Transform conference, IBM CEO Arvind Krishna painted a picture of a company in the midst of a transformation. He said that he wanted to take advantage of IBM’s $34

Netflix shares soar as it passes 200M paying subscribers

Netflix capped off a year of impressive streaming growth by adding 8.5 million net new paying subscribers during the fourth quarter. That means the streaming giant now has a total of 204 million payin

Stitch Fix shares rise nearly 50% in early trading after yesterday’s earnings beat

Investors are buying into the shares of publicly traded Stitch Fix, the personal styling online clothes store, after it reported better-than-expected earnings yesterday. Shares of the company’s

Salesforce beats growth expectations as investors digest the Slack acquisition

Today after the bell, Salesforce reported its third-quarter earnings for its fiscal 2021, a period that ended October 31, 2020. The CRM giant reported top-line revenue of $5.42 billion, up 20% from th

Lyft sees ride revenues recover by nearly 50% in just three months

Shares of Lyft are riding high, popping more than 7% in after-hours trading today after the American ride-hailing giant reported its Q3 earnings. Lyft, which competes with Uber for rideshare, reported

Beyond Meat earnings miss big on declining food service and consumer demand

Beyond Meat’s partnership with McDonald’s to develop the McPlant burger wasn’t enough to keep shares from collapsing after the company posted third-quarter earnings that fell far bel

Huge delivery demand fails to stop Uber’s revenue from shrinking in Q3

Despite surging delivery demand, Uber’s third-quarter ultimately failed to meet investor revenue expectations in the third quarter. Uber reported gross bookings of $14.7 billion in the period, a

Alibaba passes IBM in cloud infrastructure market with over $2B in revenue

When Alibaba entered the cloud infrastructure market in earnest in 2015 it had ambitious goals, and it has been growing steadily. Today, the Chinese e-commerce giant announced quarterly cloud revenue

Zynga reports record revenue and strong user growth while still losing $122M

Zynga’s revenue grew to a record $503 million (up 46% year-over-year) in the third quarter, with bookings of $628 million (up 59%), according to its latest earnings report. It also had its best

Apple, Microsoft and other tech stocks roar as the presidential election narrows to several states

Update: At the close of trading today, the tech-heavy Nasdaq Composite was up 3.8%, with SaaS and cloud stocks rising a simply bonkers 6.2%. On the back of sizable gains posted yesterday, tech stocks

Tech stocks rip higher on Election Day

Tech stocks shot higher as American voters went to the polls, the gains coming far ahead of results that could indicate who will win the presidency. American stocks broadly rose, with the S&P 500
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