Canada markets open in 1 hour 36 minutes
  • Business
    Reuters

    Reddit shares soar as earnings show advertising, AI licensing revenue potential

    The projections followed better-than-expected results for the first three months of 2024, showing that Reddit's push to grow its advertising business and content licensing deals with AI-focused companies such as Google were paying off. "We suspected that Reddit would come out strong out of the gates, and Reddit exceeded our bullish expectations," Bernstein analyst Mark Shmulik said in a client note. "Reddit appears to be reaping the benefits of a strong digital ad market, buoyed by some 'free' IPO marketing, alongside increased traffic courtesy of their new favorite AI partner Google."

  • Business
    The Canadian Press

    E-commerce company Shopify reports Q1 loss, revenue up 23% from year ago

    OTTAWA — Shopify Inc. reported a loss in its latest quarter as its revenue increased 23 per cent compared with a year ago. The e-commerce software company, which keeps its books in U.S. dollars, says its net loss amounted to US$273 million or 21 cents US per diluted share for the quarter ended March 31. The result for the quarter compared with a profit of US$68 million or five cents US per diluted share in the same quarter last year. Revenue for the quarter totalled US$1.86 billion, up from US$1

  • Business
    Bloomberg

    Brookfield Asset Management Sees Profit Drop in First Quarter

    (Bloomberg) -- Brookfield Asset Management reported a decline in first-quarter profits but notched growth in its fee-related earnings. Most Read from BloombergTrump Judge Indefinitely Postpones Documents Case TrialOne Out of Every 24 New York City Residents Is Now a MillionaireAmericans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t TrackTrump’s Private Life Exposed in Intimate Stormy Daniels TestimonyDistributable earnings were $547 million, or 34 cents a share, the Toronto-based company

  • Business
    Bloomberg

    Shell to Sell Singapore Oil Assets to Glencore-Indonesia JV

    (Bloomberg) -- Shell Plc has agreed to sell its Singapore refining and chemicals assets to a joint venture between commodity trader Glencore Plc and Indonesia’s PT Chandra Asri Pacific.Most Read from BloombergTrump Judge Indefinitely Postpones Documents Case TrialOne Out of Every 24 New York City Residents Is Now a MillionaireAmericans Are Racking Up ‘Phantom Debt’ That Wall Street Can’t TrackTrump’s Private Life Exposed in Intimate Stormy Daniels TestimonyAs part of the transaction, Shell will