Finance

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Apple services are making more cash than ever, but revenue shrank for the third quarter in a row

Apple’s financials continue to be in an ever-so-slight slump. Just as we saw the last two quarters, the company suffered minor declines in revenue in its fiscal Q3 2023 — but these are minor blips for a company that is still raking in absurd amounts of money every quarter.  As has often been the case, […]

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Meta had its best quarter since 2021 despite losing more money on the metaverse

Meta just had its best quarter since 2021, even as it continues to lose massive amounts of money on the metaverse. In fact, the company said it expects to lose even more money on its efforts in the year to come. Reality Labs, the Meta division overseeing its virtual and augmented reality projects, lost $3.7

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Elon Musk says Twitter’s ad revenue has dropped by 50 percent

Twitter is still spending more money than it’s making, according to Elon Musk. In the early hours of Saturday morning, the billionaire tweeted the company was suffering from an ongoing negative cash flow issue due to an approximately 50 percent drop in advertising revenue and heavy debt burden. “Need to reach positive cash flow before

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Finfra lets Indonesian businesses add embedded finance to their platforms

Finfra, an Indonesian startup that provides the tech infrastructure for online businesses that want to offer embedded finance products, has raised $1 million in new funding. The round included participation from DSX Ventures, Seedstars International Ventures, Cento Ventures, Fintech Nation, FirstPick, BADideas Fund and Hustle Fund. The startup’s new funding will be used on product

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Meta reportedly wants to license Magic Leap’s AR technology

Meta could turn to Magic Leap for help to stay ahead of Apple and other new entrants in the soon-to-be crowded AR space. According to the Financial Times, the two companies are in talks to sign a multi-year IP licensing and manufacturing pact. Details on the negotiations are few, but according to the outlet’s sources,

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ARM registers for US initial public offering

ARM has registered for a US stock market listing. In a press release published Saturday, the mobile chip company said it recently confidentially submitted a draft F-1 form to the Securities and Exchange Commission. According to Reuters, ARM hopes to raise between $8 billion and $10 billion dollars when it holds the initial public offering

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Facebook is still growing amid Meta’s ‘year of efficiency’

Mark Zuckerberg’s “year of efficiency” doesn’t seem to be affecting Facebook’s growth. Meta’s social network added 37 million users during the first quarter of the year, bringing total daily users up to 2.037 billion. Meanwhile, the number of daily users across the company’s “family of apps” rose to over 3 billion users for the first

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