All articles tagged with #business performance
Broadcom's stock, which had surged 50% in the past three months due to optimism about its AI capabilities, dipped 3% in after-hours trading as the company reported stronger performance in AI segments but weakness in other areas. Despite this, Broadcom maintained its revenue outlook for the fiscal year.
Meta has started its third round of layoffs, targeting members of its business groups, as part of its multibillion-dollar plan to save costs. The company's first round of layoffs affected 11,000 employees in November, followed by another round in April that affected employees in technical roles. The latest round of cuts will affect about 10,000 workers. Despite the cost cuts, Meta is still investing heavily into the nascent metaverse and its Reality Labs unit, which logged a $3.99 billion operating loss while generating $339 million in sales in the first quarter.