Block to add more bitcoin to its treasury, lifts annual forecast
By Arasu Kannagi Basil (Reuters) - Block lifted its full-year adjusted core earnings forecast on Thursday and revealed plans to add more bitcoin to its balance sheet, as the Jack Dorsey-led firm bets big on the cryptocurrency. Shares of the company jumped
Cisco to cut more than 4,000 jobs, lowers annual revenue forecast
By Akash Sriram (Reuters) - Cisco Systems said it would cut 5% of its global workforce, or more than 4,000 jobs, and lowered its annual revenue target as the company navigates a tough economy that has led to thousands of layoffs
Dassault Systemes shares fall as revenue forecast disappoints
By Dagmarah Mackos and Lina Golovnya (Reuters) - Dassault Systemes said on Thursday it expects revenue growth of 8-10% this year at constant currencies, below analyst expectations and sending shares in the French software maker down around 9% in early trade. The
ServiceNow raises annual subscription revenue forecast on GenAI product demand
By Jaspreet Singh (Reuters) - ServiceNow raised its forecast on annual subscription revenue on Wednesday, as the software firm expects to attract new clients for its generative artificial intelligence (AI) products. Businesses are investing in services and products to automate their workflow,
Deloitte 2024: business technology investments will rise this year
Deloitte 2024: Technology investment is rising worldwide, with the average corporate technology budget rising from 4.25 per cent in 2020 to 5.49 per cent in 2022, with a forecast of 5.85 per cent for 2024. This is according to Deloitte's new
Zoom lifts annual results forecast as AI features boost demand
By Samrhitha A (Reuters) - Zoom Video Communications raised its annual revenue and profit forecasts on Monday, as hybrid work trends and the integration of artificial intelligence technology into its products boosted demand. Platforms including Zoom, Microsoft's Teams and Cisco's Webex became
Japan’s JSR slashes profit forecast on chip recovery weakness
By Sam Nussey and Miho Uranaka TOKYO (Reuters) - Japanese chip materials maker JSR Corp on Monday slashed its operating profit forecast for the current financial year by 62%, citing a weak recovery in demand for semiconductors and a slowdown in
Paramount narrows streaming loss forecast as investments peak
By Samrhitha Arunasalam (Reuters) - Paramount Global shares surged 10% on Friday, after the media company narrowed the 2023 loss forecast for its fast-growing streaming business as investments peaked a year ahead of target. After years of chasing subscriber growth through hefty
Zalando cuts 2023 sales forecast as demand stays weak
By Helen Reid LONDON (Reuters) - Europe's biggest online fashion retailer Zalando sees continued pressure on demand for the rest of the year and now expects 2023 sales to decline, the company said on Wednesday as it reported weaker than expected