Spotify just released its Q4 earnings and announced that it now has 205 million premium subscribers, up 10 million from last quarter. It also made €3.17 billion ($3.43 billion) in revenue, so it exceeded expectations in both subscriber count and sales. It now counts nearly 500 million monthly active users including ad-supported and paid subscriber tiers.
Samsung has revealed a sharp decline in profit for 2022, mainly due to the weak demand for its chips and smartphones, which are the company's main moneymakers. The Korean tech giant has posted KRW 302.23 trillion (US$245.4 billion) in annual revenue, which is a new record high for the company, in its latest earnings report.
For the second time in less than a year, electric transport startup Arrival is cutting staff. The company announced Monday plans to lay off approximately 50 percent of its workforce. The move will reduce Arrival’s headcount to about 800 employees. In the middle of last year, Arrival warned it was strapped for cash, and the company’s financial position appears to have become more dire since.
Between its ongoing supply chain constraints, brutal rounds of layoffs and a plummeting stock price, the past year has been a glass case of emotion for Tesla and its embattled CEO, Elon Musk. Still, the company managed to produce nearly 440,000 vehicles and delivered over 405,000 of them — year over year increases of 47 and 40 percent, respectively — Tesla announced on Wednesday during the Q4 2022 earnings call.
Like many big tech companies, Microsoft is preparing for the worst after announcing plans to lay off 10,000 employees in the upcoming third quarter.