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Alibaba shares fell 4.6% after the Chinese tech giant reported a 75% drop in net income for the June quarter, driven by capital expenditure surging 75% to 67.7 billion yuan amid AI infrastructure investments.
Strattec Security achieved record annual revenue of $579.4 million in fiscal 2026 while expanding gross margins by 150 basis points to 16.5% through pricing discipline and operational improvements.
Intuit is shifting strategy toward acquiring new customers and investing in AI-driven products while guiding for 9-10% revenue growth in the coming fiscal year, down from prior expectations.
Semtech achieved record data center revenue of $100 million with 91% year-over-year growth, driven by 800G and 1.6T architecture demand. The company projects 45% sequential revenue growth in data center for Q3.
Neobank Revolut launched its euro-pegged EURR stablecoin to selected customers in Denmark, Poland and Portugal, with broader European rollout anticipated later this year pending regulatory approval.
Zoom beat analyst expectations on second-quarter revenue and profit but issued a third-quarter guidance that disappointed Wall Street, causing the stock to decline.
