BUSINESS

Photo Credit: Getty Images

Disney reported higher quarterly profits Wednesday, boosted by increased revenues in its streaming business as it prepares to launch a key ESPN product later this year. The entertainment giant cited the success of "Moana 2" and other box office hits as revenue drivers, while US hurricanes partially offset gains from its amusement parks.

Photo Credit: Getty Images

Samsung Electronics has forecast limited earnings growth for Q1 2025, citing weak conditions in the memory chip market and intensifying competition with rivals like Apple and SK Hynix. The South Korean tech giant reported a 29% drop in Q4 2024 operating profit to $4.48 billion.

Photo Credit: Getty Images

In a major policy reversal, Alphabet Inc., the parent company of Google, has revised its artificial intelligence (AI) principles, purging earlier restrictions against AI development for weapon and surveillance purposes. This shift is consistent with the changing terrain of AI technology and its incorporation in national security paradigms.

Photo Credit: Getty Images

On Wednesday, Tesla revealed that its profits for the fourth quarter were lower than expected, primarily due to a drop in vehicle prices. The company reported earnings of $2.3 billion, marking a significant 71 percent decline from the same period last year, which had included a one-time tax benefit. While revenues rose slightly by two percent to $25.7 billion, they did not meet analyst forecasts. Looking ahead, Tesla anticipates a recovery in volume growth by 2025.

Photo Credit: Getty Images

The 1954 Mercedes-Benz W196 R Stromlinienwagen, the fabled Formula 1 car raced by Juan Manuel Fangio and Stirling Moss, has broken all records in an auction that took place on February 1, 2025, fetching £42.75 million, or €51.155 million. The highest price ever paid for a Grand Prix car came at an auction by RM Sotheby’s at the Mercedes-Benz Museum in Stuttgart, Germany.

Photo Credit: Getty Images

On Wednesday, Meta, the parent company of Facebook, Instagram, and WhatsApp, revealed impressive financial results for 2024, showcasing substantial growth in both profits and revenue.