BrightDrop, a division for General Motors’ electric vehicle distributions, announced on Thursday during its annual investor day that it is forecasting $1 billion of revenue for the coming year. It marked BrightDrop’s first revenue disclosure. The General Motors offshoot didn’t release financial data in 2021. Travis Katz, CEO of BrightDrop,...
On Wednesday, Cisco reported that its fiscal first-quarter results had beat analysts’ predictions on both the company’s top and bottom lines. Citing that the supply situation has eased, the San Jose, California-based company is now upping its forecast for the fiscal year 2023. Per Refinitiv, Cisco’s earnings per share were...
Warren Buffett’s Berkshire Hathaway has acknowledged that it has increased its stake in the mass media and entertainment company, Paramount Global. Once news broke of the new investments on Tuesday, Paramount shares were up and closed more than 5 percent higher than the previous closing at $19.44 per share....
Amazon has announced that it will begin to start dropping off packages to customers by air almost a year after Amazon CEO Jeff Bezos first announced that his company would begin drone deliveries.  Amazon’s newest drone model, the MK27-2, weighs approximately 80 pounds and is nearly five-and-a-half feet in diameter....
CEO of Meta Mark Zuckerberg announced in a letter to his employees on Wednesday that the company plans to lay off 13 percent of its workforce, which will result in more than 11,000 of its workers facing unemployment. In the letter, Zuckerberg said, “Today I’m sharing some of the most...
Berkshire Hathaway’s third-quarter report was released on Saturday. Even though many investors are concerned about rising inflation and a looming recession, Berkshire posted that its operating earnings went up by 20 percent compared to the same period last year, totaling $7.7 billion for the quarter.  Operational earnings are comprised of...
Pfizer released its third-quarter financials on Tuesday and the results were better than predicted by analysts. The company’s revenues grew by 2 percent, or $213 million, when its drugs, Paxlovid and Comirnaty were excluded. But, Pfizer’s revenue was less compared to the same reporting period last year, totaling $22.6 billion...
British multinational bank Barclays posted a net profit of £1.512 billion, or an equivalent of $1.73 billion USD, that was attributable to shareholders. The figure represented an increase from last year’s restated third-quarter profit of £1.374 billion and was said to be attributable to robust trading revenues. Although the UK-based...
The New York-based airline company JetBlue Airways posted strong earnings for the third quarter. The airline carrier had a $57 million profit for the period even though it had to increase fare prices to help cover higher expenses, including jet fuel. Travel demand is still strong despite ongoing inflation...
On Wednesday, Proctor & Gamble (P&G) reported its fiscal first quarter 2023 earnings and revenue, which showed that the company exceeded estimates by Wall Street analysts.  While the company has had to increase its prices due to higher manufacturing and supply costs, it has seen lower demand for its products,...