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Twitter is laying off 9% of its workforce, Tesla blew away expectations, and more news.

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Twitter
Is laying off 350 people, or 9% of its workforce. It beat Wall Street expectations with 317 million monthly active users and $616 million adjusted revenue this quarter.

Tesla
Blew away Wall Street expectations, reporting its only second-ever quarterly profit on revenues of $2.3 billion. It hit a record with more than 25,000 vehicles produced, nearly doubling from a year ago.

Samsung
The Galaxy Note 7 crisis nearly wiped out the company's mobile profit, down 98% from a year ago. The company still posted a $4 billion operating profit off its other activities.

Google
Is scaling back its ambitious fiber optic initiative, which brought super-high-speed internet to a handful of cities. Google Fiber's CEO has left the company and layoffs are expected. Parent company Alphabet reports earnings today.

"Business needs to make the case that it acts in the interests of society and that change is necessary."
Richard Edelman, president and CEO of Edelman

Daily Top Headlines:
Animation: Lucy Clinch
Script: Katie Carroll, Isabelle Roughol
Art: Jacqueline Zaccor
Producer: Florencia Iriondo

Published in: News & Politics
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