This week was a rollercoaster ride in the tech world. From Amazon.com, Inc. hiking its Prime Video prices to Meta Platforms potentially cutting its workforce, the tech industry was buzzing with news.
Meanwhile, Apple Inc. slashed its App Store fees in China, Oracle Corp reported impressive Q3 earnings, and Adobe announced a CEO transition. Here’s a quick recap of these stories.
Oracle’s Q3 Earnings
Oracle Corp reported its financial results for the third quarter of fiscal 2026, beating analyst estimates. The company posted third-quarter revenue of $17.19 billion, and adjusted earnings grew 21% year-over-year to $1.79 per share.
Adobe’s CEO Transition
Adobe reported first-quarter revenue of $6.40 billion, beating analyst estimates. The company also announced a CEO transition. Total revenue was up 12% year-over-year as total customer group subscription revenue increased 13% year-over-year to $6.17 billion.
Amazon’s Prime Video Price Hike
Amazon announced on Friday that it would be increasing the price of its ad-free streaming plan for Prime Video. Starting April 10, the ad-free add-on will cost $4.99 per month, a $2 increase from the previous $2.99 per month. The company is also rebranding the tier as “Prime Video Ultra.”
Meta’s Potential Workforce Cut
Meta Platforms may be planning to cut 20% of its workforce, according to a report by Reuters. The timeline and final scale of the layoffs are yet to be decided. The company has not responded to requests for comments.
Apple’s Fee Cut in China
In response to regulatory pressure and changing smartphone market dynamics, Apple has decided to cut App Store fees for developers in China. The company announced a significant reduction in its App Store commission fees, lowering in-app purchase charges from 30% to 25%. Small businesses and mini-app developers will receive additional reductions.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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