Reading List
The most recent articles from a list of feeds I subscribe to.
Block reports Q4 revenue up 4% YoY to $6.25B, gross profit up 24% to $2.87B, driven by a 33% surge in Cash App, and forecasts Q1 gross profit up 22% to $2.8B (Reuters)
Reuters:
Block reports Q4 revenue up 4% YoY to $6.25B, gross profit up 24% to $2.87B, driven by a 33% surge in Cash App, and forecasts Q1 gross profit up 22% to $2.8B — Block (XYZ.N) on Thursday said it will cut over 4,000 jobs, nearly half its workforce, as part of an overhaul …
Netflix Backs Out of Bid for Warner Bros., Paving Way for Paramount Takeover
The New York Times:
Netflix said on Thursday that it had backed away from its deal to acquire Warner Bros. Discovery, a stunning development that paves the way for the storied Hollywood media giant to end up under the control of a rival bidder, the technology heir David Ellison.
Netflix said that it would not raise its offer to counter a higher bid made earlier this week by Mr. Ellison’s company, Paramount Skydance, adding in a statement that “the deal is no longer financially attractive.”
“This transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price,” the Netflix co-chief executives, Ted Sarandos and Greg Peters, said in a statement.
Netflix’s stock is up 9 percent in after-hours trading. This is like when you have a friend (Netflix) dating a good-looking-but-crazy person (Warner Bros.), and the good-looking-but-crazy person does something to give your friend second thoughts. You tell your friend to run away.
Intuit reports Q2 revenue up 17% YoY to $4.65B, vs. $4.53B est., and forecasts Q3 revenue growth of ~10% and EPS below expectations; INTU drops 5%+ after hours (Kelly Cloonan/Wall Street Journal)
Kelly Cloonan / Wall Street Journal:
Intuit reports Q2 revenue up 17% YoY to $4.65B, vs. $4.53B est., and forecasts Q3 revenue growth of ~10% and EPS below expectations; INTU drops 5%+ after hours — The company's profit guidance for its third quarter - which overlaps with peak tax season - came in short of Wall Street's expectations
Source: Meta has signed a multiyear deal to rent Google's TPUs to develop new models and has also been in talks to buy TPUs for its data centers as soon as 2027 (The Information)
The Information:
Source: Meta has signed a multiyear deal to rent Google's TPUs to develop new models and has also been in talks to buy TPUs for its data centers as soon as 2027 — Meta Platforms has signed a deal to rent Google's AI chips, known as tensor processing units, to develop new AI models, according to a person involved in the talks.