Latest news with #KritikaLamba
The Star
3 days ago
- Business
- The Star
NXP second-quarter revenue falls 6%
FILE PHOTO: The logo of Dutch chipmaker NXP is seen at their headquarters as NXP receives a 1 billion euro loan for Europe-based chip research in Nijmegen, Netherlands January 15, 2025. REUTERS/Piroschka van de Wouw/File Photo (Reuters) -Chipmaker NXP Semiconductors posted a 6% drop in second-quarter revenue on Monday, led by weakness in communications and infrastructure segment amid broader market softness. NXP's revenue for the second quarter fell 6.4% to $2.93 billion, although it still narrowly beat analyst expectations of $2.90 billion, according to data compiled by LSEG. NXP's chips are used for high-speed digital processing utilized in sectors such as automotive, manufacturing, telecommunications and the Internet of Things (IoT). The shares of the company fell 5% in trading after the bell. Revenue from its communication and infrastructure segment fell 27% to $320 million in the quarter. Industrial and IoT revenue fell 11%, while the automotive segment was flat. For the third quarter, the company expects revenue to be between $3.05 billion and $3.25 billion, the midpoint of which is above analysts' estimates of $3.07 billion. (Reporting by Kritika Lamba in Bengaluru; Editing by Anil D'Silva)
The Star
17-07-2025
- Business
- The Star
OpenAI lists Google as cloud partner amid growing demand for computing capacity
FILE PHOTO: OpenAI logo is seen in this illustration taken May 20, 2024. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -OpenAI has included Alphabet's Google Cloud among its suppliers to meet escalating demands for computing capacity, according to an updated list published on the ChatGPT maker's website. The artificial-intelligence giant also relies on services from Microsoft, Oracle, and CoreWeave. The deal with Google, finalized in May after months of discussions, was first reported by Reuters citing a source in June. The arrangement underscores how massive computing demands to train and deploy AI models are reshaping the competitive dynamics in AI, and marks OpenAI's latest move to diversify its compute sources beyond its major supporter Microsoft, including its high-profile Stargate data center project. Earlier this year, OpenAI partnered with SoftBank and Oracle on the $500 billion Stargate infrastructure program and signed multi-billion-dollar agreements with CoreWeave to bolster computing capacity. The partnership with Google is the latest of several maneuvers made by OpenAI to reduce its dependency on Microsoft whose Azure cloud service had served as the ChatGPT maker's exclusive data center infrastructure provider until January. Google and OpenAI discussed an arrangement for months but were previously blocked from signing a deal due to OpenAI's lock-in with Microsoft, a source had told Reuters. (Reporting by Kritika Lamba in Bengaluru; Editing by Mohammed Safi Shamsi)
Yahoo
25-06-2025
- Business
- Yahoo
Bumble to lay off 30% of global workforce as dating apps struggle
By Kritika Lamba (Reuters) -Bumble said on Wednesday it would lay off nearly a third of its workforce, the latest cuts in a dating app industry striving to develop features that will keep users spending amid economic uncertainty. The company also raised its second-quarter revenue forecast, as a broader effort to revamp the platform starts to take hold. The job cuts will affect 240 roles, or 30% of Bumble's staff. Rival Match also announced a 13% workforce reduction last month. Bumble shares rose 19% on the news, but their market value has shrunk by about a fifth this year to a little over $500 million. Its peak was around $15 billion, when the company went public in 2021, LSEG data shows. The "layoffs reflect Bumble's new strategy of optimizing for user experience rather than revenue or user growth in the short term", and underscores new CEO Whitney Wolfe Herd's desire for a more agile startup structure, said M Science analyst Chandler Willison. Online dating firms have struggled in recent years to retain audiences, especially Gen Z users, leading to management overhauls at Match and Bumble as well as pressure from activist investors. Bumble's Herd returned as CEO earlier this year with the promise of boosting the company's performance by focusing on match-making quality. The company raised its second-quarter revenue forecast to a range of $244 million to $249 million, up from the prior view of $235 million to $243 million. It had also met Wall Street expectations for first-quarter revenue in May, even as it posted a 7% decline. Bumble said it will incur about $13 million to $18 million in layoff-related charges, primarily in the third and fourth quarters of 2025. It expects to save about $40 million of annual costs, which it plans to reinvest in initiatives such as product and technology development. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
25-06-2025
- Business
- CTV News
Bumble to lay off 30% of global workforce
The dating app Bumble is shown on a smart phone on Wednesday, June 26, 2024, in New York. (AP Photo/Peter Morgan) Dating application Bumble said on Wednesday it will lay off about 240 roles or 30 per cent of its global staff. Shares of the company rose 12 per cent in premarket trading following the announcement. Bumble said it will incur non-recurring charges of about US$13 million to US$18 million for employee severance, benefits and related charges, primarily in the third and fourth quarters of 2025. The company expects to save about US$40 million of annual cost savings, which it plans to reinvest in initiatives such as product and technology development. The company also raised its second-quarter revenue forecast to a range of US$244 million to US$249 million, up from the prior view of US$235 million to US$243 million. --- Reporting by Kritika Lamba in Bengaluru; Editing by Devika Syamnath and Shreya Biswas
The Star
25-06-2025
- Business
- The Star
Bumble to lay off 30% of global workforce
The Bumble Inc. (BMBL) app is shown on an Apple iPhone in this photo illustration as the dating app operator made its debut IPO on the Nasdaq stock exchange February 11, 2021. REUTERS/Mike Blake/Illustration (Reuters) -Dating application Bumble said on Wednesday it will lay off about 240 roles or 30% of its global staff. Shares of the company rose 12% in premarket trading following the announcement. Bumble said it will incur non-recurring charges of about $13 million to $18 million for employee severance, benefits and related charges, primarily in the third and fourth quarters of 2025. The company expects to save about $40 million of annual cost savings, which it plans to reinvest in initiatives such as product and technology development. The company also raised its second-quarter revenue forecast to a range of $244 million to $249 million, up from the prior view of $235 million to $243 million. (Reporting by Kritika Lamba in Bengaluru; Editing by Devika Syamnath and Shreya Biswas)
