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Softbank posts $23.4 billion loss as market selloff spreads to tech stocks
... to count when asked what lessons he learned from the experience. SoftBank's Vision Fund was founded in 2017 and invests in tech startups and high-growth companies. Shares of its portfolio companies ranging from South Korean e-commerce firm Coupang to DoorDash were hit hard in the second quarter of the year. Son said back in May that the company would go into defense mode and be more conservative with the pace of investments after posting a record 3.5 trillion Japanese yen loss at the investment unit ...
Updated: 08/08/2022
SoftBank posts record loss on tech selloff
... the previous record set just three months earlier in the January-March quarter. The drop in technology shares around the globe recently sparked by interest-rate increases and China's crackdown on tech companies. Shares of Uber Technologies Inc. and DoorDash Inc. , two U.S. companies in which SoftBank has invested, fell more than 40% during the April-June quarter. SoftBank said Vision Fund 1 had fully exited its position in Uber. SoftBank invested its money into tech startups last year, seeing ...
Updated: 08/08/2022
SoftBank posts biggest quarterly loss as valuations tumble
Japanese investment group SoftBank posted its biggest quarterly loss Monday after plunging technology valuations dragged down its flagship Vision Fund. Japanese investment group SoftBank posted its biggest quarterly loss Monday after plunging technology valuations dragged down its flagship Vision Fund .
Updated: 08/08/2022
Equity futures trade higher ahead of July jobs report
... expected to hold steady at 3.6% for the fifth month in a row. AMC Entertainment shares fell 10% in extended trading after the company reported a bigger than expected loss and announced it will pay a special dividend in the form of preferred shares. DoorDash shares jumped 14% in after-hours trading after the company said it received a record number of customer orders in the second quarter, boosted by the company's acquisition of Finnish delivery service Wolt Enterprises . The second week of 2Q earnings ...
Updated: 08/05/2022
DoorDash reports record customer orders, shares soar
... million orders, a jump of 23% from a year ago. The value of those orders grew 25% to $13.1 billion, beating Wall Street's expectations of $12.7 billion. The results are the first to combine financials from Helsinki -based Wolt since its acquisition by DoorDash in November. The deal, which was worth about $8 billion at the time of its announcement, was closed in June. The positive results didn't agree with the rising inflation fears that it would discourage consumers from discretionary services like ...
Updated: 08/04/2022
DoorDash earnings beat estimates, but loss beats forecasts
DoorDash Inc. said its food-delivery business remains healthy despite economic uncertainty but its loss was worse than predicted by Wall Street in the second quarter. DoorDash Inc. said its food-delivery business remains healthy despite economic uncertainty ...
Updated: 08/04/2022
Uber reports better-than-expected quarterly cash flow, stock surges
... first time in a long time and forecast third-quarter operating profit above estimates, as more people rely on its services for transport and ordering food. The stock surged 15 per cent to $28.2 and helped push shares of Lyft Inc by 11 per cent and DoorDash by 4 per cent. In the second quarter, Uber generated free cash flow of $382 million, surpassing analysts' expectations of $263.2 million, as trips exceeded levels seen before the epidemic, boosted by office reopenings and a surge in travel demand....
Updated: 08/02/2022
Ice cream trucks, ghost kitchens battle for sales
... have the ability to go anywhere, their menu is limited compared to ice cream shops which typically offer a variety of items including shakes, floats and sundaes, according to Christensen . He said that third-party delivery services like Uber Eats and DoorDash also started providing ice cream products more prolifically to people's homes than ever before, especially during the early days of the coronaviruses, which changed the way consumers consume ice cream. A lot of newcomers are testing out ghost ...
Updated: 07/30/2022
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