Klarna Halves Q1 Net Loss and ‘On Track to Achieve Profitability This Year’

Swedish fintech mainstay Klarna cut its Q1 net loss to $120.7 million while boosting operating income by 22% YoY. Klarna Bank AB significantly improved its Q1 bottom line after halving the net loss sustained for the period compared with last year. For the first quarter of the year, the Swedish fintech giant posted a net deficit … Read more

Swiss Banking Giant UBS May Record $17B Loss from Credit Suisse Takeover

According to the UBS post-acquisition plans, it is going to implement a phased integration of the Credit Suisse brand which may last a couple of years.  Swiss multinational banking giant UBS Group AG (SWX: UBSG) has revealed new details about what its liabilities are likely to be from the acquisition of Credit Suisse Group AG … Read more

SoftBank Vision Fund Records $32B Loss in Its Fiscal 2022 Year amid Weakening Economy

Vision Fund, SoftBank’s tech investment arm, posted a loss of 4.3 trillion yen for its fiscal year that ended March 31st.  SoftBank sustained a $32 billion record loss for its Vision Fund tech investment arm amid a challenging period for tech stocks. For its fiscal year ending March 31st, the Japanese investment holding company’s Vision Fund posted a … Read more

Pepe Coin (PEPE) Struggles to Hold Above $1B Market Cap, Whales Under Loss

As the price of Pepe coin (PEPE) tanked over the last weekend, whales have turned active again which could cause further price volatility going ahead. Last week, the frog-themed memecoin Pepe coin (PEPE) created a massive frenzy in the crypto space registering over 300-400% price gains, with its price peaking at $0.00000420 on Friday, May … Read more

Warner Bros. Discovery Q1 2023 Results Sees Media Giant Realize Streaming Profit despite Sustaining Overall Loss

Due to its commendable Q1 2023 streaming numbers, Warner Bros. Discovery expects its streaming business to stay profitable this year.  On Friday, May 5, Warner Bros Discovery (NASDAQ: WBD) reported its Q1 2023 earnings before the bell that came in mixed. For instance, the media and entertainment giant reported a significant overall loss despite raking in profit from … Read more