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financial services, US-headquartered IT firm Cognizant posted a net profit of $582 million in the third quarter, up 2.8% sequentially and 10.8% on-year. The Nasdaq-listed technology major saw its third quarter revenue growing by 4% sequentially at $5 billion. On a year-on-year (YoY) basis, the revenue was up 3%. Buoyed by its healthy deal pipelines and strong performance in its top two large verticals — Health Sciences and Financial Services, Cognizant revised its FY24 annual revenue guidance up to 1.4-1.9% in constant currency (this assumes approximately 200 basis points of inorganic contribution), from its earlier guidance of -0.5-1%. “Investments in AI-driven platforms, like our Neuro suite and Flowsource, are resonating with our clients and supporting our large deals success. In the third quarter, we signed six deals with a total contract value of more than $100 million each, bringing our year-to-date count to nineteen, which is more than we signed in the full-year 2023,” said Ravi Kumar S, chief executive officer of Cognizant.

e-commerce giants Google, Meta, Amazon, and Flipkart collectively generated over Rs 60,000 crore in advertising revenue in FY24, a 9% increase from Rs 55,053 crore in FY23, according to Registrar of Companies (RoC) filings. For the first time, the Indian arms of Google and Meta surpassed Rs 50,000 crore in combined gross revenue. The marketplace arms of Flipkart and Amazon garnered over Rs 10,000 crore in cumulative ad revenue, with Flipkart Internet alone raking in close to Rs 5,000 crore. Amazon Seller Services, which generated Rs 5,380 crore in ad revenue in FY23, has yet to publish its annual report. However, sources indicate that the company is likely to report strong ad revenue earnings in line with industry trends.

Drops in big tech companies including Microsoft and Facebook’s parent company Meta Platforms led Wall Street lower

Chinese online retailer Temu is facing a European Union investigation over suspicions it’s failing to prevent the sale of illegal products

Kraken, one of the world's largest cryptocurrency exchanges, on Wednesday announced the layoff of 15% of its workers, a corporate restructuring and the appointment of a new co-chief executive. The cuts amounted to about 400 of the company's roughly 2,600 employees, two people with knowledge of the company said. They included two members of the leadership team: the chief operating officer, Gilles BianRosa, and the chief technology officer, Vishnu Patankar, two people said. Kraken named Arjun Sethi, a longtime Silicon Valley executive, as co-CEO, alongside Dave Ripley. Ripley became chief executive in 2023 after Jesse Powell, the company's founder, stepped down following internal struggles with employees.

Subscribe to enjoy similar stories. Microsoft and Meta Platforms might appear to have little in common. But both are betting large sums on artificial intelligence, and neither is yet inclined to slow down.

soan papdi, as they navigate their preparations for the celebrations.

Subscribe to enjoy similar stories. When Presolv360 began operations in 2017, most companies and individuals still preferred to gather in dim court halls to resolve their disputes.

Meta Platforms Inc. has posted stronger-than-expected third-quarter results fueled by its advertising revenue growth and its push to incorporate artificial intelligence

X’s crowd-sourced fact-checking program, called Community Notes, isn’t addressing the flood of U.S. election misinformation on Elon Musk’s social media platform

Meta India posted a 24% growth in gross advertising revenue, reaching ₹22,730 crore for the fiscal year ending on 31 March, compared to ₹18,308 crore in the previous fiscal year, as per the company's filings with the RoC. The Indian unit of global social media giant Meta Platforms, which still operates under the legal name Facebook India Online Services, recorded a modest 13% growth in gross advertising revenue for the fiscal year ending on March 31, 2023. The FY23 gross advertising revenue of ₹18,308 crore includes ₹6,120 crore from gross advertising reseller revenue, as the reseller model was in effect for a few months of that financial year.

While his team had expected him to rest post-tour for a health assessment, King Charles has moved ahead with plans for upcoming royal engagements. During a traditional Ava ceremony in Samoa, he referenced his health, telling attendees he hoped to “survive long enough” to return, reflecting on his connection to the region. Also Read: Ironheart: Release date revealed, cast, streaming platform and more

Subscribe to enjoy similar stories. Space World group is evaluating various routes to raise funds to channel into new ventures Constl and Ranext that will offer fibre connectivity between data centres and in-building plug-and-play fibre network for internet services providers. Founder Ankit Goel told Mint in an exclusive interaction that the company will go to market in the next three to six months to raise funds but was yet to decide the route it would take and the equity it intended to dilute.

For the first time in its nearly 20-year history, Reddit is turning a profit

Subscribe to enjoy similar stories. New Delhi: Filmmakers are increasingly signing pacts to release films on streaming platforms before they hit the theatres, as they seek to de-risk their projects at a time audiences have soured on movie-going. Producers have also faced criticism for mentioning the streaming partner in the marketing and publicity of the said film, which many say, takes away from the need to go to the cinemas as the movie would soon be available for home-viewing.

BLive EZY on Wednesday said it has deployed 1,000 units of premium EVs to cater to the festive demand in the quick commerce segment. As the festive season drives a surge in online shopping, India's quick commerce market is set for exponential growth, Blive EZY said. Moreover, during peak times, consumers expect their orders in as little as 10-15 minutes, making ultra-fast delivery essential, it added. «With festive demand for quick commerce deliveries at an all-time high, BLive EZY has deployed 1,000 premium electric vehicles (EVs) tailored to meet the dynamic requirements of this growing industry,» it said.

Indian youth is among the best in innovation and technology after GitHub's CEO Thomas Dohmke said India's rise as a global tech titan is inexorable. Dohmke, whose firm is a leading developer platform, said on X, «Of course, I have to show some love to India. Now the fastest growing developer population on the planet, India's rise as a global tech titan is inexorable.» He said India's developers have gone a leap further as they are increasingly using AI (artificial intelligence) to build AI. «India has the second-highest number of contributors to public generative AI projects. This makes it evermore likely the next great AI multinational is borne on the continent,» he added.

civil aviation security and intelligence agencies have been issued by the Bureau of Civil Aviation (BCAS) in view of the «evolving security challenges», especially the «emerging trend» of issuing hoax bomb threats through various social media platforms. In the past two weeks, more than 510 domestic and international flights have received bomb threats that later turned out to be hoaxes. The threats were issued mostly through anonymous handles on social media platform X. This has caused «major» operational and financial distress for the airlines. As per the current practice, a Bomb Threat Assessment Committee (BTAC) is convened at a designated airport to analyse a bomb or security threat issued against an airline, airport or any part of the aviation ecosystem that decides to declare it «specific» or serious or «non-specific» or hoax.

The firm banned investors from buying new shares in Majedie Investments across both platforms over the summer, while limitations on CT Global Managed Property Income had been in effect since December 2022. A spokesperson told Investment Week these changes took effect on 23 October, following the recent lifting of restrictions on RIT Capital Partners, which had been in place since August 2023. Restrictions on JPMorgan Emerging Europe, Middle East & Africa Securities (JEMA) were also lifted on the firm's adviser platform last week, but the trust remains restricted on the personal invest...

Stressed assets that are going through liquidation under the insolvency law will now be listed and auctioned through a centralised electronic platform owned by a consortium of a dozen state-run banks to maximise recovery for creditors. The Insolvency and Bankruptcy Board of India (IBBI) has tied up with the Indian Banks’ Association to facilitate the auction of stressed assets through the eBKray platform run by PSB Alliance, the regulator said in a circular. eBKray has been conducting auctions for assets, mortgaged to state-run banks, under the SARFAESI Act for the past five years.

Donald Trump’s Truth Social is now worth more than Elon Musk’s X