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Facebook’s Shares Plunge After Profit Decline

CFO News Room

startled investors with a sharper-than-expected decline in profits and a gloomy outlook in its first earnings report since Chief Executive. and Canada, two of the company’s most profitable markets, the results show. billion profit for the fourth quarter, below analyst expectations of $10.9 Facebook parent. Meta Platforms Inc.

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Disney, Meta Platforms, Lucid Motors, Roblox and more

CFO News Room

Disney — Shares of the media giant slid more than 11% after the company’s quarterly results missed Wall Street expectations on revenue and profit, as both its parks and media divisions underperformed estimates. AMC Entertainment — Shares dropped 9.8% Check out the companies making headlines in midday trading.

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Walgreens, Coinbase, Duolingo, Ralph Lauren

CFO News Room

Walgreens – Shares rose 6% after an upgrade to buy from hold Deutsche Bank, which said it liked Walgreens’ merger and acquisition plans. Duolingo – Shares of the foreign language learning platform lost 10% after the company reported revenue below expectations while also posting a smaller-than-expected quarterly loss.

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Tapestry, WeWork, Rivian and others

CFO News Room

Nio (NIO) – The China-based electric car maker posted a wider-than-expected quarterly loss, but said it expected deliveries to nearly double in the current quarter from a year ago. in the premarket after it reported a wider-than-expected quarterly loss. WeWork also plans to exit about 40 underperforming locations this month.

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Amazon Expects To Expend All Of Q2’s Profit Fighting COVID-19

PYMNTS

Still, that outcome marks the first time AWS has topped the $10 billion mark when it comes to revenue, pushed by the massive upswing in cloud service use as consumers have begun both working from home and netting most of their entertainment via the web. That pick-up, however, will be offset largely by an operating loss range of $1.5

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A Business Upended: Streaming disrupts the Entertainment Business!

Musings on Markets

The recent troubles in entertainment, though, reflect a longer term disruption that has occurred in the business, with the rise of streaming as an alternative to the traditional platforms for movies and television shows. With Apple TV+ and Amazon Prime, the game is even more difficult to gauge.

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Will Movie Theaters Make It?

PYMNTS

AMC Entertainment Holdings announced this week that it “expects to open approximately two-thirds of its more than 600 U.S. 3, with plans for celebratory events – like bringing back 1920s ticket prices of 15 cents for the day – to attract audiences back to theatrical movie-going. theater locations” by Sept. theater locations” by Sept.