Technology

TMN - Snap

Snap launches paid subscription for $3.99 a month

Snap Inc. announced on Wednesday that it would roll out a $3.99/month subscription plan for Snapchat. The premium tier will unlock exclusive and pre-release features. The Plus plan will include functions such as pining your close friend as a BFF (best friend forever) and customizing the app’s icon. The firm cited that the development is …

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TMN - Meta

Meta and Microsoft form Metaverse Standards Forum

On Wednesday, Meta Platforms, Microsoft, and other tech giants announced to form a Metaverse Standards Forum. The group aims to drive open interoperability, making it easier for developers to build systems across platforms. Participants include many of the biggest companies in the space, from chip makers to gaming companies. For instance, it has some major …

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TMN - Netflix

Netflix to launch Squid Game reality competition

On Tuesday, Netflix Inc. greenlighted the biggest reality competition, Squid Game: The Challenge, based on its most-watched series. The streaming giant cited that the show offers $4.56 million, the largest cash price in television history. Netflix shares edged up 1.14% or 1.91 points to $169.45 per share in Wednesday’s pre-market trading after the announcement. Accordingly, …

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TMN - Disney

Disney steers from Netflix’s dip as streaming rises

On Wednesday, Walt Disney Company relieved worries after reporting higher-than-expected streaming subscriber growth, steering away from Netflix Inc’s fate last month. The streaming service picked up 7.90 million new customers in the fiscal second quarter, resulting in a total of 137.70 million subscribers. Consequently, it beat the average market expectation of adding 30.00 million Disney+ …

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amc

AMC’s box-office collection buoyed by Batman fans

AMC Entertainment Inc. posted better-than-expected quarterly revenue as “The Batman” movie drove a surge in box-office collection at the world’s largest theater chain. The film had a solid run in theaters, recording nearly 40.00 million visitors during the quarter. Then, the revenue collected during the period did not outweigh the $1.00 billion in operating expenses …

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Intel

Intel expects chip shortages on China’s COVID curbs

Intel Corporation issued a lower-than-expected forecast for its fiscal second quarter, citing further chip shortages due to the widening COVID-19 curbs in China. The chipmaker projects a current-quarter adjusted profit of $0.70 per share, below analysts’ average estimate of $0.83. Eventually, its forecasted revenue was $18.00 billion, missing the market consensus of $18.38 billion. As …

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TMN - Tesla

Tesla surges past mounting costs with EV price hikes

Tesla Inc’s first-quarter earnings results raced past market expectations on Wednesday as higher vehicle prices helped insulate the firm from rising material costs. The leading electric vehicle maker reported quarterly revenue of $18.76 billion, compared with the forecasted $17.80 billion. Subsequently, automotive revenue reached $16.86 billion, representing an 87.00% increase from last year. Regulatory credits …

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