Alibaba shares fall as AI spending drives 75% drop in net income
Alibaba reported a 75% decline in net income for the June quarter as artificial intelligence infrastructure spending surged, though revenue grew 9% to 268.95 billion Chinese yuan.
Restaurant Brands International earnings beat as Burger King’s U.S. business soars
Restaurant Brands International reported second-quarter earnings that beat analyst expectations, driven by strong Burger King performance in the U.S. and internationally, though shares fell as other chains struggled.
Warner Bros. Discovery reports 10% jump in streaming revenue ahead of proposed Paramount combination
Warner Bros. Discovery reported streaming revenue surpassed $3 billion in its second quarter, up 10% year-over-year, as the company faces scrutiny over its proposed merger with Paramount Skydance.
Why Jensen Huang’s $500 billion AI financing plan faces a big risk from China
Nvidia’s $500 billion data center financing plan assumes its AI chips retain value like real estate, but analysts warn rapid depreciation and potential Chinese competition pose significant risks to the arrangement.
Cerebras stock plunges 14% after second earnings report following IPO
Cerebras raised full-year guidance following its second quarterly earnings report since its May IPO, but the chipmaker’s stock declined approximately 14% in extended trading.
Cisco’s stock drops despite earnings, revenue beat
Cisco shares declined in after-hours trading Wednesday despite reporting earnings and revenue that surpassed analyst expectations, with the company also providing upbeat forward guidance.