Carro is Singapore’s latest unicorn following latest funding round

On Tuesday, Southeast Asian online automotive marketplace Carro said, it has raised $360 million in its latest funding round that was led by SoftBank Vision Fund 2, becoming the region’s latest unicorn. “The valuation for the company is well over a billion dollars,” said Carro, Aaron Tan, the CEO and founder of Singapore-headquartered Carro. Carro…

Accenture Plc’s reports net income of $1.36 billion on the strength of its cloud and digital services

Accenture Plc’s first quarter earnings have beaten Wall Street analysts’ estimates, on the back of fast-growing digital and cloud services businesses. The IT consulting firm has shifted its focus to the cloud and offers a wide range of services ranging from managing clients’ social media marketing strategies to helping them move to the cloud. Accenture…

Tencent’s earnings report reveals surging licensing and content production costs

Excluding one-off items, Tencent Music Entertainment Group earned 0.57 yuan per American depositary share in the quarter, in line with analysts’ average estimate, according to IBES data from Refinitiv. In a significant development, China’s hugely successful content streaming firm Tencent Music Entertainment Group delivered its first earnings report as a public company. Although its result…

Sony announces 1st ever share buyback worth $910 million

The move is clearly aimed at boosting shareholder returns. On Friday, Sony Corp announced its first-ever major share buyback worth $910 million (100 billion yen). With the news reaching the market, its stock recovered from a hammering from investors who were spooked over its lackluster earnings. Sony’s announcement marked Japan’s second major buyback this week:…

Audi to sink in $15.9 billion into autonomous driving, digitalization and e-mobility

Audi is taking a very systematic approach to the future of mobility. On Tuesday, Volkswagen’s Audi stated, it would sink in $15.9 billion (14 billion euros) through 2023 in autonomous driving, electric mobility and digitalization. For the next five years, Audi has projected its total expenditure to be around 40 billion euros, said the carmaker…

Elon Musk delivers on promise, Tesla’s earning beat analyst’s estimate

With wider margins, a rise in net profits, and a positive cash flow, Elon Musk has delivered on his promise. Here’s the low down on how Tesla’s Chief Financial Officer Deepak Ahuja and Musk managed Tesla’s operations in a capital efficient manner.   In a significant development, Tesla’s Chief Executive Elon Musk delivered on his…