BP profits surge as high gas prices hit household finances
LONDON (AP) — BP PLC reported its biggest full-year profit for eight years on Tuesday, its coffers boosted by soaring oil and gas prices that have hiked domestic fuel bills for millions of people. The British energy giant said its underlying replacement…
Shares of Facebook parent Meta plunge 22% on lower profits
Meta, the company that owns Facebook, Instagram and WhatsApp, saw its stock plunge after-hours Wednesday after unexpectedly heavy spending on its “metaverse” project led to a rare decline in its fourth-quarter profit. That’s in addition…
Shares of Facebook parent Meta plunge 23% on lower profits
Newly renamed Meta is investing heavily in its futuristic “metaverse” project, but for now, relies on advertising revenue for nearly all its income. So when it posted sharply higher costs but gave a weak revenue forecast late Wednesday, investors got…
Shares of Facebook parent Meta plunge 22 percent on lower profits
Technology Facebook employees take a photo with the company’s new name and logo outside its headquarters in Menlo Park, Calif., on Oct. 28, 2021. (AP Photo/Tony Avelar, File) The Associated Press By BARBARA ORTUTAY, Associated Press February 2,…
Tesla Profits Surge On Higher Auto Sales Despite Chip Crunch
Tesla’s third-quarter profits more than quadrupled on sharply higher sales despite a global semiconductor shortage that has plagued the auto industry, according to results released Wednesday. Elon Musk’s electric car company posted a record…
Elon Musk’s Tesla reports record sales and profits
Electric car maker Tesla has brushed off supply chain issues and the global microchip shortage to report record quarterly sales and profits. Revenues rose to $13.76bn in the third quarter of the year, up from $8.77bn 12 months earlier. The company, led…
U.S. lawmakers accuse Big Tech of crushing rivals to boost profits
By Nandita Bose and Diane Bartz WASHINGTON (Reuters) – Google and Facebook took the sharpest jabs for alleged abuse of their market power from Democrats and Republicans on Wednesday in a much-anticipated congressional hearing that put four of…