ViacomCBS Sees 19% Drop in Ad Sales, Further Declines Expected
The company is looking at cutting costs, including moving some activities to lower-cost locations.
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Nintendo Beats Full-Year Estimate for Switch Sales
The higher sales reflect the popularity of its game, “Animal Crossing: New Horizons," along with Covid-19, which has forced people to spend more time indoors.
Didi Chuxing President Says Core Ride-Hailing Business Is Profitable
While Lyft and Uber are slashing staff as ridership plummets, Didi is back on track. Didi’s president didn't specify which measure of profitability she was referring to.
Facebook Suspends Employee Promotions for 2020
The decision comes after Facebook said last week it saw a “steep decrease” in ad sales during March, followed by flat yearly revenue growth in April.
Facebook Bug Crashes Spotify, Tinder, Pinterest, Others
The snafu also illustrates just how widely Facebook's software is used across the app ecosystem.
Peloton Sees Business Surge Amid Lockdown
Peloton reported strong growth in its business, as the internet fitness company joined a handful of tech companies benefiting from coronavirus lockdown.
Lyft Ride Business Now Down About 70% From Last Year
A full recovery won't happen anytime soon.
LiveNation Tests Concerts in Pandemic Era
Acoustic set in Arkansas will be a test of how well live events work while also following strict health safety measures
BuzzFeed Furloughs Some Employees, More to Follow
CEO Jonah Peretti says the company is temporarily cutting 68 jobs but it's still negotiating with the newsroom union about layoffs on that side
Verizon Media Ad Sales Exec to Depart
Longtime ad sales executive Jeff Lucas, who has long been rumored to be a candidate to head ad sales at WarnerMedia, is leaving Verizon.
Libra Association Names HSBC Exec as CEO
The development means that Facebook’s influence over the Libra project has diminished.
Samsung Executive Apologizes for Bribery Scandal
The son of Samsung's chairman says he won't pass his role onto his children.
Consumer Spending on Movie Rentals and VOD Soars 48% in March
The data is likely to fuel a debate in Hollywood about how much to embrace electronic rentals for movies that haven't been shown in theaters.
New York Times Subscriptions Surge, Ad Revenue Plummets
The media company’s first-quarter results reflect consumers’ hunger for news even as the broader economic picture darkened.
Uber Cuts 3,700 Jobs and More Layoffs Expected
The job cuts, which had been expected, follow an 80% plunge in Uber's ride-hailing business.
Bolt Says It Will Start Electric Scooter in 45 Cities
Even as Lyft and Uber struggle with decimated ridership, the Estonian ride-hailing startup is betting on electric scooters.
Amazon Warehouse Worker in New York City Dies of Covid-19
The death could galvanize more criticism of Amazon, which fired the organizer of a walkout at the same New York City facility last month.
Russo Brothers Name Former Chernin Executive as CEO of Production Company
Move shows the production company is expanding ambitions during the streaming era
Database Startup Cockroach Gets $87M in New Funding
The startup's latest round, which comes eight months after its previous one, shows investors' confidence in database providers.
Game Makers EA, Activision See Business Surge During Outbreak
Electronic Arts and Activision Blizzard reported strong results as people lean more heavily on videogames as entertainment during the coronavirus outbreak.
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The Information AM by The Information Staff
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