Microsoft on Wednesday reported a 11% increase in profit for the July-September quarter compared to the same time last year as investors looked for signs that the company’s huge spending on artificial intelligence is paying off.The company reported quarterly net income of $24.7 billion, or $3.30 per share, which beat Wall Street expectations. The Redmond,…… MORE
The Washington Post has lost at least a quarter million subscribers since announcing last Friday it would not endorse a candidate in the presidential race. That’s according a report in the newspaper itself. That represents 10 percent of the paper’s digital subscriptions at a time the outlet — like most news organizations — is struggling…… MORE
Meta Platforms Inc. has posted stronger-than-expected third-quarter results fueled by its advertising revenue growth and its push to incorporate artificial intelligence. But the Instagram and Facebook parent company warned that it expects a significant acceleration in infrastructure spending next year. For the three months ended on Sept. 30, the Menlo Park, California, company earned $15.69…… MORE
Starbucks is discontinuing its Oleato olive-oil infused beverages at most locations, part of an effort to streamline the chain’s menu. The Seattle-based company confirmed the change Wednesday ahead of the release of its fiscal fourth-quarter earnings. Later Wednesday, Starbucks’ new chairman and CEO, Brian Niccol, is scheduled to hold his first conference call with investors…… MORE
NEW YORK (AP) — For the first time in its nearly 20-year history, Reddit is turning a profit. The social platform claimed a profit of $29.9 million for the period ending in September, and reported sales of $348.4 million, an amount surpassing the $312.8 million analysts had projected. Reddit also grew its number of daily…… MORE