Posts Tagged: revenue

Meta will limit hiring this year due to slowing revenue growth

Meta is limiting its intake of new employees as part of its efforts to cut costs due to weak revenue forecasts, according to CNBC and Bloomberg. Facebook's parent company is slowing the pace or pausing hiring for most mid-to-senior level positions altogether. It has started putting recruitment on hold, the sources said, after holding off on hiring new entry-level engineers over the past weeks. 

Facebook's latest quarterly earnings results were better than expected, and its daily active users even bounced back a bit from last quarter. However, the company also expects a revenue drop next quarter in part because of the Russian invasion of Ukraine. Company CFO David Wehner said during the earnings call that Meta "experienced a further deceleration in growth following the start of the Ukraine war due to the loss of revenue in Russia as well as a reduction in advertising demand both within Europe and outside the region." 

In addition, Facebook expects to lose $ 10 billion in revenue due to the changes in Apple's privacy settings on iOS. Apple introduced a new feature earlier this year that limits advertisers' access to the unique IDFA code associated with users' devices. That identifier is what gives companies a way to link a user to their Facebook data and show them targeted ads. Facebook even rolled out a prompt asking users to allow the company to track their activity across websites and apps before the change was implemented in hopes to curb its effects on the company's business.

A Meta spokesperson told the publications:

"We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly. However, we will continue to grow our workforce to ensure we focus on long-term impact."

Insider previously reported on leaked internal memos, wherein Wehner said that the hiring freeze will last the rest of the year. It will affect almost every team across the company, which won't be recruiting "engineers, managers and even some director level talent" throughout 2022.

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Tesla nearly doubled its revenue in Q1 despite industry wide supply chain woes

Tesla built 305,000 vehicles in the first "exceptionally difficult" quarter of this year, delivered 310,000 of them, and opened new factories in Berlin and Austin — all while CEO Elon Musk sought a highly publicized hostile takeover of Twitter.

Tesla's recent factory investments, as well as efforts to shore up its battery component supply chain, are part of the company's localization strategy, which seeks to lower production costs by building vehicles closer to the markets they'll eventually be sold in. But like the rest of the automotive industry, Tesla faces an increasingly tight supply of critical semiconductors and rising prices spurred by inflation itself brought on by Russia's invasion of Ukraine. It also is currently navigating the shuttering of its Gigafactory in Shanghai, which closed due to COVID outbreaks in the region. Work at the factory has only partially resumed in recent days.

At the opening of the Austin Gigafactory earlier this month, Musk confirmed that the long-awaited Cybertruck would finally be going on sale in 2023 and that a wide beta of its Full Self-Driving technology would be rolling out throughout North America this year. However, both the Cybertruck and the upcoming Roadster (as well as "Future Products") are still listed as "in development," as opposed to "in production" as the X/S and 3/Y are in this latest investors deck. Q1 2022 also saw price increases across Tesla's model lineup and the elimination of gratis mobile charging equipment. Overall, the company posted $ 3.3 billion in net income up from $ 438 million last year.

Tesla will hold its quarterly investor teleconference at 5:30pm ET today, stay tuned for updates from that call along with whatever fun tidbits come out of Elon's mouth during it.


Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics

Huawei is offering generous revenue splits to bring developers onto its AppGallery store

Huawei has had a very obvious problem since the 2019 trade ban took effect, preventing them from using Google’s apps and services. Yes, losing Gmail and YouTube hurts, but it completely blocks access to millions of other Android apps on Huawei devices. To counter that, Huawei has been pushing their own AppGallery store where Huawei […]

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Streaming dominates the music industry’s revenue

The music industry is on the upswing, and the RIAA has services like Spotify and Apple Music to thank. Adoption has steadily increased, and they accounted for 80 percent of the revenue from the first half of 2019. Despite these record-breaking number…
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HTC catches a break, posts a massive increase in revenue for June

HTC has been riding the struggle bus for a very long time, going from one of the biggest smartphones manufacturers on the planet to a company that’s barely managing to keep the doors open. There have been tons of rumors about when and how HTC will finally go under, including being bought up by a […]

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For Amazon, better skills mean bigger ad revenue

Amazon is improving its Alexa voice assistant with each new update, enabling more natural conversation patterns and upgrading the system's ability to understand complex or vague questions. All of this is great for people who are sick of screaming, "A…
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HTC reports major revenue reductions

Yesterday HTC released their monthly and year-to-date revenue figures for 2018 and things are looking really bad for the company. Sure, things have been bad for HTC for several years now prompting the company sell off a significant portion of their business to Google. Even with that, two rounds of layoffs in their U.S. and […]

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HTC’s revenue in February drops to its lowest in 13 years

Today’s a bad news day for Android manufacturers, apparently. HTC’s February earnings have been reported and things are looking bleak yet again. Earnings dropped 23% from the previous month and 44% from the previous year, totaling around $ 89 million for the entire month. That’s the lowest HTC has experienced in 13 years, which is really bad. It’s […]

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Xiaomi surges past 2017 revenue target setting up for IPO bid

When 2017 opened, Xiaomi was getting over the bump in the road that 2016 had been for the company. Like so many technology companies, Xiaomi succeeded in generating a lot of buzz when they first launched and translated that early success into positive financial results. As they transitioned out of their start up phase though, […]

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HTC U11 sparks revenue growth for the company in June

It’s not a well-kept secret that HTC has struggled pretty badly in the financial department for the past couple of years, but every once in awhile they’ll see a nice revenue bump from a successful flagship launch. It seems like that was the case in June, too, thanks to the slick U11. Revenues in June […]

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Sprint posts big quarterly loss, beats revenue estimates

Sprint has posted some interesting quarterly results, beating revenue expectations. On the other hand, the carrier’s quarterly losses has widened substantially. The better-than-expected revenue seems to come from some hefty discounts and promotions Sprint has been offering in order to reel customers in. With that in mind, the carrier has added 173,000 postpaid customers this […]

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Google takes on Apple with better revenue deal for app developers, report says

On the same day that Apple revealed it’s improving its revenue deal for app developers, a report suggested Google is planning a similar change, though with one important difference.

The post Google takes on Apple with better revenue deal for app developers, report says appeared first on Digital Trends.

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Alphabet Q1 2016 revenue up but misses Wall Street target


Alphabet reported their 2016 first quarter financial results this past week. Although revenues were up compared to a year ago rising 17%, they did miss Wall Street expectations by the slimmest of margins coming in at $ 20.3 billion versus an expected $ 20.4 billion. Google Inc. still makes up the overwhelming portion of the Alphabet portfolio, but the company’s “moonshot” segments are getting capital support to keep them growing.

For Google Inc., the company breaks things down between the advertising business and all other businesses. If you want to understand why Google positions services and platforms to capitalize on advertising revenue streams, just realize that ad driven revenues accounted for 90% of the $ 20.1 billion in revenue for the quarter. That is a big reason why Google continues to invest in technologies like machine learning and natural language processing in order to ultimately deliver better ads. The remaining 10% is primarily sales through Google Play and other cloud services.

Google indicated advertising driven revenues increased thanks to growth in mobile search. Other Revenues also grew, by a healthy 24% year-over-year, thanks to growth in cloud enterprise businesses. A part of that positive result may be due to long-time rival Apple moving part of its data cloud from Amazon to Google.

Google’s other segments include all of the smaller businesses, sometimes referred to as “moonshots” that have been added to the portfolio. The biggest of these are Nest, Verily and Fiber which produce 99% of the revenue generated by these “Other Bets” companies. For the first quarter, these companies produced $ 166 million in revenue, a sizable 108% increased compared to a year earlier. However, that positive growth is offset by increases in spending, the majority of which was capital spending to build out Google Fiber infrastructure.

Alphabet and Google CFO Ruth Porat noted in a conference call that the pressure is on the various “moonshot” divisions to meet their milestones during 2016. She also indicated that the company is evaluating the portfolio of teams that may be working on similar projects or technologies to determine whether it is really appropriate to continue in an “anything goes” manner.

In response to just barely missing forecasts, the share price for Google stock fell by about 5%. Analysts think the stock was priced for “perfection” and when the company did not quite achieve that, the market responded negatively. However, other analysts noted that there is “nothing wrong with this company” and the swing was perhaps a bit more dramatic than it should have been.

source: Alphabet
via: Business Insider and The New York Times

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Several Rovio games on Amazon Underground managed to triple revenue for developer

amazon-underground-102915Amazon Underground has been gaining momentum since launch, and even big name developers can stand to benefit from putting their games on the service. Rovio, for example, published several big titles to Amazon Underground, including Angry Birds Rio, Angry Birds Stella, Angry Birds Space, and Bad Piggies, and saw their revenue triple for those titles just by being on Amazon Underground.

While Amazon makes the apps (and their in-app purchases) free for users, it also reimburses developers for every minute that the apps are used. That means that Rovio made some money off of users that probably wouldn’t have purchased anything to begin with, which is a pretty big deal in a time when monetizing mobile apps is extremely difficult.

Now to keep things in perspective, these apps tripled their revenue compared to what was previously being made in Amazon’s own App Store. That doesn’t include the revenue from the Play Store and Apple’s App Store, both of which are certainly bigger pools than Amazon’s fairly limited storefront. But Amazon’s Kindle ecosystem makes up a big enough portion of the pie that it was still probably a fairly profitable move for Rovio to make, and it might entice other developers to follow suit.

source: Amazon

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