Meta announced its first-quarter earnings after the closing bell on Wednesday. The company’s stock plunged 12% in after-hours trading, due to the company’s increased expenses and mediocre revenue projections. The company’s revenue is at $36.46 million, up 27% over the same time last year. Meta said that it saw an average of 3.24 billion active people on its platforms in March, up 7% year-over-year. The company reported a fiscal first-quarter net income of $12.4 billion, or $4.71 a share, compared with a net income of $5.7 billion, or $2.20 a share, in the same quarter a year ago. Meta’s stock…
Author: insighter
The much-anticipated IPO of Rubrik, which was 20 times oversubscribed, generated some $736 million as shares exceeded the initial pricing range sought by the Microsoft-backed tech firm. The cloud and data startup offered 23 million shares, all from the company, at $32 each, above the range of $28 to $31 cited in the company’s S-1 filing. This puts Rubrik’s valuation at $5.61 billion. As recently as 2021, it was valued more than $4 billion after an investment from Microsoft. Fifteen banks worked on the offering, with Goldman Sachs the lead underwriter. Shares are set to begin trading on the New…
10’000 Hours | Digitalvision | Getty Images There’s still time to lower your 2023 tax bill or boost your refund with a lesser-known retirement savings strategy for married couples. One requirement for individual retirement account contributions is “earned income,” such as wages or salary from a job or self-employment earnings. But there’s an exception for single-income households: the spousal IRA. A spousal IRA is a separate Roth or traditional IRA for the non-working spouse — and it’s “often overlooked,” according to certified financial planner Judy Brown at SC&H Group in the Washington, D.C., and Baltimore area. More from Women and…
The simple interest calculator computes the interest amount and ending balance for savings. Calculate simple interest by using the formula I = Prt. In this formula, “I” equals the interest amount, “P” equals principal (the starting balance), “r” equals the interest rate and “t” equals the number of time periods. You can use the simple interest calculator below to figure out how much interest you could earn with different rates and time periods. SoFi Checking and Savings NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product…
Bipul Sinha, co-founder and CEO of data security software company Rubrik. Sinha previously backed cloud management company Nutanix. Greylock Partners Rubrik, a data-management software company backed by Microsoft, priced its IPO at $32 a share. That’s above its expected range. The 10-year-old company sold 23.5 million shares ahead of its New York Stock Exchange debut on Thursday and will trade under the ticker symbol “RBRK.” Rubrik raised $752 million through the initial public offering, valuing the company at $5.6 billion. Last week the company said in a filing that it was expecting to price the offering at $28 to $31…
Delta is giving out raises for the third year in a row. It’s a lesson for every leader.
Flight attendants at Southwest Airlines have ratified a contract that includes pay raises totaling more than 33% over four years, as airline workers continue to benefit from the industry’s recovery since the pandemic. The Transport Workers Union said Wednesday that members of Local 556 approved the contract by a margin of 81% to 19%. The union’s board rejected a lower offer last summer, and flight attendants voted against a second proposal in December. Southwest has about 20,000 flight attendants. They will get raises of more than 22% on May 1 and annual increases of 3% in each of the following three years.…
JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, D.C., on Dec. 6, 2023. Evelyn Hockstein | Reuters A Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion. The court ordered the seizure of funds in JPMorgan’s Russian accounts and “movable and immovable property,” including the bank’s stake in a Russian subsidiary, according to a court…
Being denied for a personal loan can feel like a punch to the gut. It’s easy to get discouraged, especially if it delays plans to consolidate debt or renovate your home. Instead of taking the rejection personally, use it as motivation to make the necessary changes to win approval the next time you apply. 6 reasons for personal loan rejection and what to do next According to the Equal Credit Opportunity Act, lenders must disclose why they denied your application or inform you of your right to seek out such reasons. If a lender doesn’t volunteer this information, you have…
On Wednesday, President Joe Biden signed the TikTok ban into law, finally giving owner ByteDance its Choose Your Own American Adventure: It must either sell the immensely popular video-sharing platform or see it get banned in the U.S. The decisive power play requires the Beijing-based tech company to divest TikTok within 365 days. If it doesn’t, the consequences are that TikTok would be yanked from U.S. app stores. Both scenarios would shake up the tech scene, causing ripples that could impact the everyday business of major players stretching from Meta and Alphabet to Oracle. But did TikTok’s terrible day cause rivals’ stocks…
Meta shares plunged 16% in extended trading on Wednesday after the company issued a light forecast, which overshadowed better-than-expected first-quarter results. Here are the key numbers: Earnings per share: $4.71 per share vs. $4.32 per share expected by LSEG Revenue: $36.46 billion vs. $36.16 billion expected by LSEG Revenue increased 27% from $28.65 billion in the same period a year earlier, the fastest rate of expansion for any quarter since 2021. Net income more than doubled to $12.37 billion, or $4.71 per share, from $5.71 billion, or $2.20 per share, a year ago. One reason for the pop in net…
Xavier Lorenzo | Moment | Getty Images There is officially one winner for the $1.128 billion Mega Millions jackpot — and the taxman will take a sizable share, experts say. A single ticket sold in New Jersey won the game’s fifth-largest grand prize after matching all six numbers drawn Tuesday night, Mega Millions announced Wednesday. The final jackpot dropped from an estimated $1.13 billion to $1.128 billion based on actual ticket sales. The lucky winner will choose between two options: an annuitized prize worth $1.128 billion or a lump-sum payout of $536.6 million cash. More from Personal Finance:An ‘often overlooked’…