Analysts at H.C. Wainwright have said that the crypto winter of 2022 ceases to have any bearing on related stocks.
According to the report, the company experienced a 133% annual reduction in its earnings per share for the quarter.
Meta shares continue to ascend in 2023 and are up 74% year-to-date, trading at $239, despite thousands of layoffs it plans to execute.
The market still remains very tipsy and while the tech sector is largely holding up with backing from technology development, other industries also have to step up in order to be able to stay resilient.
Amazon has feeling the pinch for its cloud infrastructure business as companies continue to trim their cloud spend in this challenging macro environment.
In addition to announcing the strategic partnership, Pinterest released its earnings for the first quarter.
Snap reported adjusted earnings per share of 1 cent versus a loss per share of 1 cent expected by analysts surveyed by Refinitiv.
Earlier this week, Mattel and Hasbro announced that they have entered into multi-year licensing agreements to create co-branded toys and games from some of their most popular brands.
Affected by reduced demand for Covid drug Molnupiravir, Merck has published reduced revenue figures according to its Q1 2023 report.
The company said its Peacock subscribers grew by more than 60% or 22 million compared year-over-year.
German banking powerhouse Deutsche Bank posted commendable Q1 2023 figures and remained on track to outperform revenue growth targets.
E-commerce giant eBay is optimistic going into the second quarter after logging commendable figures in its Q1 2023 outing.
Due to a strong quarter, Barclays “remains on track to deliver its 2023 targets, with all performance metrics in line with or ahead of guidance.”
Meta’s Q1 2023 performance underscores its commitment to cutting costs and maximizing earnings in its “year of efficiency”.
Announcing the newly-authorized share repurchases, Alphabet said such actions are expected to occur “from time to time, subject to general business and market conditions.”