Okta reports earnings, moves headquarters and launches free service for startups

Okta Team Rings Bell It was a big day for online identity management provider, Okta.  After reporting better-than-expected third-quarter earnings, the company also made a slew of announcements. Okta, which counts corporate clients like Nordstrom and government clients like the U.S. Department of Justice, said that it’s now going to let startups use its services for free. Young organizations with up to 25… Read More

Yext sees 39% revenue growth in latest quarter

 Yext, the company that powers search results for retail locations, reported third-quarter earnings after the bell on Thursday. The New York-based company said it brought in $44.3 million in revenue for the third quarter.This is 39% growth from the same period last year. Analysts had been expecting $43.85 million in revenue. Losses came in at an adjusted 12 cents per share, better than the… Read More

Box is cash flow positive again, with 26% revenue growth

 Box posted its third-quarter earnings after the bell on Wednesday. The cloud management business reported $129.3 million in revenue, up 26 percent from last year. This beat analyst estimates of $128.64 million. The company also reported an adjusted negative 13 cents per share, in line with Wall Street estimates. This compares to negative 14 cents from last year. Read More

Macy’s credit card processors stop working on Black Friday

 It’s one of the biggest shopping days of the year, but retail giant Macy’s can’t get its credit card processors to work. Customers have been waiting in lines across the United States to buy discounted items, only to find out that the machines won’t take credit cards or gift cards. Some Bloomingdale’s stores, which are owned by Macy’s, may have also been… Read More

Tencent’s profit surges 69% thanks to its thriving games business

 Tencent, Asia’s highest-valued technology company, has smashed analyst forecasts for its Q3 2017 after it posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion). That blew past expectations of 15.7 billion yuan and 61 billion yuan, according to analysts polled by S&P Global Market Intelligence, thanks to its high-performing mobile and PC… Read More

Redfin shares fall 7% after real estate earnings disappoint

 Redfin, the real estate brokerage site, saw its shares tumble about 7% in after-hours trading, shortly after sharing its earnings. The company posted about $109.5 million for the third quarter. Analysts surveyed by Yahoo Finance had been expecting about $110.6 million. Adjusted earnings per share were 12 cents, missing the 13 cents predicted. The newly public business may have disappointed… Read More

Big tech goes five for five

Dollars on a green background As October came to a close, three of the five largest American tech companies beat earnings expectations. The quarterly results of Amazon, Microsoft, and Alphabet were impressive, with each firm bringing in both more revenue and profit than analysts had expected. And, as we explored at the time, the companies managed to come up with their wins in unique fashion. And so it goes this time… Read More

With Apple lawsuits still looming, Qualcomm beats revenue expectations

 Against a backdrop of a year-long legal battle with Apple, Qualcomm has beat analysts’ revenue and earnings estimates in its fourth fiscal quarter. Qualcomm booking $5.96 billion in sales, or 92 cents per share, versus expectations of $5.8 billion and 81 cents per-share as the overall economics of the chip business continue to improve. The numbers were good enough to bump shares of the… Read More

Sprint shares fall 9% on reports of failed T-Mobile merger

 Sprint-owner SoftBank Group may be getting cold feet when it comes to the proposed T-Mobile U.S. merger. Sprint shares fell 9 percent following a report from the Nikkei that Softbank might be backing off from a potential agreement; T-Mobile shares fell 5 percent. According to the report, SoftBank is expected to approach Deutsche Telekom, the owner of T-Mobile as soon as Tuesday… Read More