Roblox is live on Bamboo!
Plus, Oracle CEO tells it like it is and Tesla’s China-made Model Y is off to a good start
Hello there,
Roblox (RBLX), the pandemic’s favorite gaming app, soared in its market debut. The company’s stock closed at $69.50, giving the company a market cap of $38.26 billion. Revenue last year jumped 82% to $923.9 million however, Roblox’s net loss widened to $253.3 million from $71 million in 2019. Roblox is trading under the ticker RBLX on Bamboo. (CNBC)
Tesla is getting off to a good start in China
Tesla’s (TSLA) Model Y was the third best-selling electric car in China last month, according to data released by the China Passenger Car Association. First place went to the Hongguang Mini, a low-cost miniature EV developed by General Motors (GM) joint venture with Wuling Motors and state-owned SAIC Motor. (CNBC)
Oracle CEO delivers low earnings guidance
Oracle (ORCL) shares dropped 6% lower in extended trading on Wednesday after the company announced lower-than-expected quarterly earnings guidance. The company also said that it was raising its quarterly dividend to 32 cents per share from 24 cents per share. Oracle’s CEO, Safra Catz, told analysts that she expects $1.20 to $1.24 in adjusted earnings per share and 5% to 7% revenue growth in the fiscal fourth quarter. (CNBC)
What else are we reading?
Apple (AAPL) has cut orders for iPhones by 20% due to decreased demand for its smallest iPhone 12 mini model. (CNBC)
Nokia (NOK) has announced that they have struck a deal with Samsung to license patents covering its innovations in video. (Yahoo Finance)
That’s all for today.
See you tomorrow.