Facebook said Wednesday that the Federal Trade Commission opened an antitrust investigation into the company, but the heightened regulatory scrutiny doesn’t appear to have slowed down the social network’s growth. The new investigation came on the same day that the Federal Trade Commission announced that it was hitting Facebook with a record $5 billion fine for its …
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Lyft’s first quarter on the stock market has been a bumpy ride. Everything looked good when the ride-hailing service’s co-founders, Logan Green and John Zimmer, rang the opening bell on the Nasdaq exchange on March 29 to celebrate Lyft’s first day as a publicly traded company. Shares rose 8.7% to close at $78.29. Shareholders rejoiced. Lyft was seen as the …
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Qualcomm will make nearly $5 billion in the current quarter from the settlement of its licensing dispute with Apple. During its quarterly earnings report on Wednesday, the mobile chipmaker said it will record revenue of about $4.5 billion to $4.7 billion from Apple in its third fiscal quarter, which ends in June. That includes a cash payment from Apple and …
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On this podcast, we talk about: CNET’s review of the Oculus Quest mobile VR headset. Facebook CEO Mark Zuckerberg emphasizing privacy as the new direction of his company. Apple’s earnings: iPhone sales drop but wearables and services help results. Now playing: Watch this: The Oculus Quest may be a VR headset you should care… 5:35 The 3:59 gives you bite-size news …
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Apple’s iPhone sales continued to slip in its latest quarter, but the tech giant’s results were still ahead of Wall Street’s expectations. The Cupertino, California, company on Tuesday reported iPhone revenue for the fiscal second quarter fell 17% to $31.1 billion. The result beat analyst projections of $30.5 billion, according to Bloomberg. As a notable bright spot, services revenue reached an …
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Spotify surpassed 100 million subscribers at the end of March, the music streaming service said Monday in its first-quarter report. That keeps Spotify above its closest competitor, Apple Music; Apple CEO Tim Cook said in January that Apple Music hit 50 million subscribers at the end of last year. As society worldwide has shifted to streaming as the most common way …
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Two-day unlimited shipping is likely Amazon’s most popular perk for its Prime members, and it’s about to get even better. Amazon finance chief Brian Olsavsky said on an earnings call Thursday that the company is working to change the two-day shipping program to just one-day shipping. He said Amazon is already spending heavily to update its infrastructure to make the …
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T-Mobile is still attracting new wireless customers even as rumors swirl that its merger with Sprint is on the ropes. The nation’s third-largest wireless carrier said Thursday that it added a total of 1.7 million new subscribers in the first quarter of 2019. About 1 million of those customers were highly valued postpaid customers, who pay their bills at …
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Amazon’s isn’t growing as fast is it used to, but it’s profiting a lot more than before. For its first quarter, Amazon reported on Thursday a fourth straight record profit, reaching $3.6 billion, or $7.09 a share, and trouncing analysts’ estimates of $4.72 a share while soaring past its year-earlier income of $1.6 billion, or $3.27 a share. Revenue rose …
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Facebook’s long list of scandals has only grown longer this year. Those troubles finally hit the social network where it matters: earnings. The social network said Wednesday it’s set aside $3 billion to cover possible expenses for a possible fine related to an ongoing investigation by the US Federal Trade Commission. The yet-unannounced FTC fine, which Facebook said could be …
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