Snap stock is down after beating estimates but saying it won’t share Q2 guidance

Snap is down 14% even though its earnings beat analysts’ expectations, after saying it didn’t plan to share formal financial guidance for Q2 thanks to macro uncertainty. Snap’s earnings per share came in at -$0.08 while Snap revenue hit $1.363 billion. Both beat FactSet analyst consensus estimates of EPS of -$0.13 and revenue of $1.345 billion.

“While our topline revenue has continued to grow, we have experienced headwinds to start the current quarter, and we believe it is prudent to continue to balance our level of investment with realized revenue growth,” the company said in prepared remarks.

Companies like Snap, which make their money on advertising, are indirectly affected by tariffs. The situation was much rosier for Google, though, which reported earnings last week.

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Rani Molla6/12/26

Report: Microsoft weighs Xbox spin-off amid major overhaul

Microsoft is reportedly considering spinning out or restructuring its struggling Xbox unit, per The Information. While new Xbox CEO Asha Sharma, who took over in February, is preparing for layoffs, she’s simultaneously planning to boost investment in its biggest franchises like “Halo,” “Fallout,” and “Minecraft.”

The latest potential shake-up comes as the gaming division battles major headwinds, following a massive 33% plunge in Q3 console sales and a recent move to slash Game Pass prices while removing new “Call of Duty” titles.

Microsoft Has Considered Spinning Out Xbox, Plans New ‘Halo,’ ‘Fallout’ Games

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BOT HIRING

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AI was the top reason cited for US job cuts for the third straight month in May

Employers cited AI for nearly 40% of May’s cuts — a share that’s kept climbing since Challenger began tracking it in 2023.

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Anthropic’s Mythos gets tired, hates bad users, and wants to be thanked

Reminder: these models are not people, they don’t think, and when you close the tab, the model isn’t pondering your last interaction.

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Waymo Money

6/11/26

Alphabet’s Waymo is getting into the subscription — and Uber’s — business

Waymo is hoping its new membership tier will lock in customers and get them to spend more.

Oracle Stock's Rises Sharply After Reporting Ultra High Demand For Cloud Computing Services

Oracle is trying really hard to convince investors it won’t have a debt problem

It’s coming up with new metrics to allay fears about its ballooning capex and debt load.

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