Internet Slowdown

SoftBank Group Corp's Arm Holdings Ltd reported a 1 percent fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year.

ChatGPT saw monthly traffic to its website and unique visitors decline for the first time ever in June, according to analytics firm Similarweb. Worldwide desktop and mobile traffic to the ChatGPT website decreased by 9.7 percent in June from May, while unique visitors to ChatGPT's website dropped 5.7 percent.

HP on Tuesday missed Wall Street targets for second-quarter revenue, hurt by a slowdown in the personal computer market as inflation-hit customers tightened their budgets.

Nearly six percent of outsourced contract workers lost jobs in India's information technology sector in the January-March period compared to the previous quarter following the impact of the global slowdown and Russia-Ukraine war, a recruitment body said.

Samsung Electronics's first-quarter profit is expected to plunge 92 percent to the lowest for any quarter in 14 years, as a chip glut worsens and buyers like data centres and computer makers slow purchases amid a global economic slowdown.

Apple is under less pressure to lay off workers amid the ongoing economic slowdown thanks to cautious hiring during the pandemic, compared to rivals Amazon, Microsoft, and Google that have laid off thousands of workers. While the Cupertino company has frozen hiring in some areas and is keeping a lid on spending, it hasn’t yet resorted to mass lay...

PayPal on Tuesday said it would cut 7 percent of its workforce, or about 2,000 employees, as the digital payments firm looks to cut costs amid the ongoing economic slowdown facing the technology industry. The company joins titans like Meta, Amazon, and Microsoft that have all recently announced layoffs.

Google has announced it will delay a part of its employees' year-end bonuses as part of a transition to a new performance management system. Eligible employees will get 80 percent of their bonus while the remainder will be paid in later months, the company said, adding that the decision was communicated to staff in 2022. The company typically paid ...

YouTube Shorts will gain shopping features, as the Alphabet-owned firm seeks to diversify its revenue stream squeezed by falling ad spending, according to a report. The streaming service is also reportedly testing new commission schemes for influencers who sell products through links in videos. YouTube has struggled to compete with TikTok, the app ...

Tinder parent firm Match on Tuesday reported that its revenue grew 6 percent and its paying users jumped 7 percent, aided by the return of a feature that lets users swipe right and left from their desktops. However, Match has predicted that Tinder's growth will be flat in the fourth quarter of the year, warning that a weakening global economy was h...

AMD snatched more of rival Intel's data centre market share in the third quarter, the company announced on Wednesday. The chipmaker's expansion in the server processor segment helped it cushion the impact of the downturn in the PC segment, where AMD lost market share to Intel.

Pinterest on Thursday reported that its quarterly revenue grew 8 percent, its slowest quarterly growth in nearly two years. As ad spending dries up due to decades-high inflation, big tech firms like Alphabet, Meta, and Snap have started to compete for advertising business. Meanwhile, Pinterest's global monthly active users (MAUs) remained flat at 4...

Microsoft is expected to post slowest quarterly revenue growth in over five years, and analysts have questioned whether the firm will be able to maintain its outlook for the financial year. The company will announce earnings later on Tuesday amid a slowdown in the PC market and a strong dollar. Microsoft's shares have declined by more than a quarte...

For the first time in history, China’s two largest technology companies posted a decline in revenue as the nation faces unprecedented growth hurdles and an uncertain outlook. But 2,000 miles away, even bigger challenges await one of Southeast Asia’s biggest companies.

Netflix revealed on Tuesday that it had lost 9,70,000 subscribers in the second quarter, much below the service’s worst-case scenario of 2 million subscriber defections projected by the company. The streaming platform also warned that a strong dollar was impacting revenue from users in other countries, while revealing that it expected to add 1 mi...

SoftBank Group Corp's Arm Holdings Ltd reported a 1 percent fall in annual revenue due to a slowdown in smartphone sales, after the chip designer disclosed the paperwork for an initial public offering (IPO) that is expected to be the largest of the year.

ChatGPT saw monthly traffic to its website and unique visitors decline for the first time ever in June, according to analytics firm Similarweb. Worldwide desktop and mobile traffic to the ChatGPT website decreased by 9.7 percent in June from May, while unique visitors to ChatGPT's website dropped 5.7 percent.

HP on Tuesday missed Wall Street targets for second-quarter revenue, hurt by a slowdown in the personal computer market as inflation-hit customers tightened their budgets.

Nearly six percent of outsourced contract workers lost jobs in India's information technology sector in the January-March period compared to the previous quarter following the impact of the global slowdown and Russia-Ukraine war, a recruitment body said.

Samsung Electronics's first-quarter profit is expected to plunge 92 percent to the lowest for any quarter in 14 years, as a chip glut worsens and buyers like data centres and computer makers slow purchases amid a global economic slowdown.

Apple is under less pressure to lay off workers amid the ongoing economic slowdown thanks to cautious hiring during the pandemic, compared to rivals Amazon, Microsoft, and Google that have laid off thousands of workers. While the Cupertino company has frozen hiring in some areas and is keeping a lid on spending, it hasn’t yet resorted to mass lay...

PayPal on Tuesday said it would cut 7 percent of its workforce, or about 2,000 employees, as the digital payments firm looks to cut costs amid the ongoing economic slowdown facing the technology industry. The company joins titans like Meta, Amazon, and Microsoft that have all recently announced layoffs.

Google has announced it will delay a part of its employees' year-end bonuses as part of a transition to a new performance management system. Eligible employees will get 80 percent of their bonus while the remainder will be paid in later months, the company said, adding that the decision was communicated to staff in 2022. The company typically paid ...

YouTube Shorts will gain shopping features, as the Alphabet-owned firm seeks to diversify its revenue stream squeezed by falling ad spending, according to a report. The streaming service is also reportedly testing new commission schemes for influencers who sell products through links in videos. YouTube has struggled to compete with TikTok, the app ...

Tinder parent firm Match on Tuesday reported that its revenue grew 6 percent and its paying users jumped 7 percent, aided by the return of a feature that lets users swipe right and left from their desktops. However, Match has predicted that Tinder's growth will be flat in the fourth quarter of the year, warning that a weakening global economy was h...

AMD snatched more of rival Intel's data centre market share in the third quarter, the company announced on Wednesday. The chipmaker's expansion in the server processor segment helped it cushion the impact of the downturn in the PC segment, where AMD lost market share to Intel.

Pinterest on Thursday reported that its quarterly revenue grew 8 percent, its slowest quarterly growth in nearly two years. As ad spending dries up due to decades-high inflation, big tech firms like Alphabet, Meta, and Snap have started to compete for advertising business. Meanwhile, Pinterest's global monthly active users (MAUs) remained flat at 4...

Microsoft is expected to post slowest quarterly revenue growth in over five years, and analysts have questioned whether the firm will be able to maintain its outlook for the financial year. The company will announce earnings later on Tuesday amid a slowdown in the PC market and a strong dollar. Microsoft's shares have declined by more than a quarte...

For the first time in history, China’s two largest technology companies posted a decline in revenue as the nation faces unprecedented growth hurdles and an uncertain outlook. But 2,000 miles away, even bigger challenges await one of Southeast Asia’s biggest companies.

Netflix revealed on Tuesday that it had lost 9,70,000 subscribers in the second quarter, much below the service’s worst-case scenario of 2 million subscriber defections projected by the company. The streaming platform also warned that a strong dollar was impacting revenue from users in other countries, while revealing that it expected to add 1 mi...