Topic: financial performance
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Chime’s $14.5B IPO After 100 VC Rejections in 2016
Chime achieved a $14.5 billion valuation in its IPO, raising $864 million with shares surging to $42 at opening, reflecting strong investor confidence. The neobank reported revenue growth from $1.3 billion in 2023 to $1.7 billion in 2024, narrowing losses and briefly turning a profit in early 202...
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Victoria’s Secret Recovers From Cyberattack, Restores Key Systems
Victoria’s Secret has restored critical systems after a late May cybersecurity breach, with no expected major financial impact, though the full scope is still being assessed. The company delayed its first-quarter earnings release due to the breach but maintains strong financial projections, with ...
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Nvidia Hits $4 Trillion Market Cap First in History
Nvidia became the first company to reach a $4 trillion market valuation, driven by an 18% stock surge in 2024 and rapid growth from $2 trillion to $3 trillion earlier in the year. Analysts credit Nvidia's dominance in AI, powering data centers for major tech firms, with record profits of $18.8 bi...
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Apple Faces $900M Tariff Hit as Production Shifts to India and Vietnam
Apple is bracing for a $900 million increase in costs this quarter due to U.S. tariffs on Chinese imports, CEO Tim Cook revealed during the company's latest earnings call. To mitigate the impact, Apple is accelerating its shift in production from China to countries like India and Vietnam.
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Reddit’s AI Strategy Targets Google Users, Not Just Scrollers
- Reddit is focusing on attracting casual browsers and active seekers of answers, with CEO Steve Huffman emphasizing the role of Reddit Answers, an AI-powered chatbot, in providing quick, reliable information.
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