Mr. Hastings will become the streaming giant’s executive chairman. Greg Peters will join Ted Sarandos as a co-chief executive.
Category: Company Reports
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Shift to Remote Work Puts Pressure on Chains Like Sweetgreen
Downtown lunch spots that rely on catering to white-collar professionals are rethinking their business model as more employees work from home.
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Procter & Gamble Sales Fall for First Time in Years as Inflation Squeezes Shoppers
The consumer goods giant raised prices 10 percent last quarter, but a decline in sales volume led to drops in revenue and profit.
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Microsoft to Lay Off 10,000 Workers as It Looks to Trim Costs
The job cuts, which amount to less than 5 percent of the company’s work force, are its largest in roughly eight years.
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Goldman Sachs Earnings Fall Short of Expectations, Causing Alarm
The Wall Street giant reported that its profit fell by nearly 70 percent in its latest quarter, lagging results at its rival Morgan Stanley.
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JPMorgan Sets Aside Money for Bad Debts as ‘Mild Recession’ Looms
The bank, the biggest in the United States, reported a large profit in its latest quarter, but said it was girding for a downturn later in the year.
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Tesla Cuts Prices Sharply as It Moves to Bolster Demand
The price reductions in the United States will make more of the company’s electric vehicles eligible for a federal tax credit.
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Rising Interest Rates Lift Profits at Bank of America and Wells Fargo
Both banks increased their reserves as protection against deteriorating economic conditions, but signaled optimism about consumer resilience.
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Virgin Orbit Offers More Details on Rocket Failure
More than 110 miles above earth, the rocket’s second-stage engine prematurely shut down before entering orbit, causing the loss of nine satellites.
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Investors Look to Corporate Reports With Low Expectations
As companies prepare to publish their latest financial results, Wall Street forecasters expect profits to fall for the first time since the early days of the pandemic.
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Wall Street Braces for a Weak Earnings Season
Analysts have begun trimming their profit forecasts, with pronounced downgrades for growth at energy and financial firms.