Lyft forecasts strong quarterly earnings as ride-hailing demand picks up
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Lyft forecasts strong quarterly earnings driven by ride-hailing demand and new features
Ride-hailing company Lyft projected higher-than-expected gross bookings and core profit for the current quarter on Tuesday, driven by robust demand for its services and benefits from new user and driver features. It also reported first-quarter revenue and core profit above expectations, sending its share up 10% in extended trading. Lyft has been luring consumers with shortened wait times for some pre-scheduled rides and drivers with minimum wage guarantees while trimming costs to boost...
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Applied Materials forecasts strong third quarter on AI boom
Semiconductor equipment maker Applied Materials forecast third-quarter results largely above Wall Street estimates on Thursday, indicating robust demand fueled by an artificial intelligence boom. The company has benefited from growing demand for wafer fabrication equipment, which are sophisticated and expensive machinery to make semiconductors, as its customers are investing heavily to produce AI chips. A surge in the requirement of high-performance computing and data centers has also driven...
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Palantir boosts its earnings forecast on strong AI demand, but stock falls
Palantir Technologies Inc. boosted its outlook on Monday afternoon as the company's AI platform continues to gain traction.