Latest news for  (OTC:RSYBS) Stock

Earnings

News

Takeda Pharmaceutical Q1 Core EPS ¥176 Up From ¥150; Sales ¥1.208T Beat ¥1.089T Estimate

EDVMF

Endeavour Mining Q2 Adj. EPS $0.01 Down From $0.22 YoY, Revenue $557M Up From $524M YoY

The Bank of Japan has increased its benchmark interest rate and <a href="https://www.boj.or.jp/en/mopo/mpmdeci/mpr_2024/k240731a.pdf">announced</a> plans to reduce its bond purchasing program.
What Happened: The BOJ has raised its benchmark interest rate to around 0.25% from the previous range of 0% to 0.1%. The central bank also outlined its roadmap for tapering its bond-buying program.
Despite the rate hike, the BOJ expects real interest rates to remain &#8220;significantly negative,&#8221; ensuring that &#8220;accommodative financial conditions will continue to firmly support economic activity.&#8221;
The bank&#8217;s fiscal year runs from Apr. 1 to Mar. 31, meaning the 2024 fiscal year will conclude in March 2025.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40046953/tech-stocks-drop-ahead-of-key-earnings-nvidia-falls-crowdstrike-hits-8-month-low-whats-dri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tech Stocks Drop Ahead Of Key Earnings; Nvidia Falls, CrowdStrike Hits 8-Month Low: What&#8217;s Driving Market?</a>
Why It Matters: The Bank of Japan&#8217;s decision to raise the benchmark interest rate marks a significant shift in its monetary policy. This move, occurring for only the <a href="https://www.benzinga.com/news/24/03/37811683/bank-of-japan-raises-interest-rates-abandoning-17-year-negative-interest-rate-stint-nikkei-reacts-by">second time in 17 years</a>, follows a prolonged period of low interest rates and signifies a step away from its long-standing ultra-loose monetary policies.
Meanwhile, in the U.S., the Federal Reserve has maintained its federal funds rate at 5.25%-5.5% for eight consecutive sessions, with market-implied probabilities suggesting a near-certainty of no <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/40042583/will-powell-hint-at-september-rate-cut-what-major-us-investment-banks-expect-from">rate change in July</a>. 
However, as inflation eases and unemployment sees a slight uptick, investors are keen to see if Fed Chair Jerome Powell will hint at a potential rate cut in September during the upcoming FOMC meeting on July 30-31.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39992214/russell-2000-notches-third-week-of-gains-strongest-streak-since-august-2022-small-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russell 2000 Notches Third Week Of Gains, Strongest Streak Since August 2022: Small Caps Serve &#8216;As Economic Barometer,&#8217; Analyst Says</a>
Image via Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

Federal Reserve

Bank Of Japan Raises Main Interest Rate, Unwinds Longstanding Easy Policy Even As Jerome Powell's Take On Rates Awaited

Senator Bill Hagerty (R-TN) called the Republican Party's ongoing embrace of cryptocurrencies a concrete one and reaffirmed presidential nominee Donald Trump's resolve to make the U.S. a "crypto hub."
What Happened: In an interview with Bloomberg Television, Hagerty stated that the party's stance on the asset class has evolved over time, and many including him were initially skeptical.&nbsp;
"When I began to understand the underlying productivity gains and technology, I thought to myself that we need to make certain it happens in America," the legislator remarked.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Bitcoin Has to Thrive Here, Hagerty Says" width="500" height="281" src="https://www.youtube.com/embed/naEpFkcIGDM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
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Hagerty reiterated Trump's position of creating an ecosystem for cryptocurrencies to thrive in the U.S., and prevent it from moving offshore.&nbsp;
The senator also slammed the current Joe Biden administration for throttling the growing industry by using regulatory bodies such as the SEC and the CFTC.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40056589/trump-odds-tumble-sharply-after-bidens-withdrawal-on-crypto-betting-platform-polymarket-tr">Trump Odds Tumble Sharply After Biden&#8217;s Withdrawal On Crypto Betting Platform; Polymarket Trader Down $72,000 After Betting On Former President</a>
Why It Matters: Hagerty's remarks come in the wake of an energetic pro-cryptocurrency campaign by former President Trump.&nbsp;
The presidential hopeful <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40048047/why-donald-trump-is-betting-on-crypto-a-look-into-his-current-crypto-portfolio">made several cryptocurrency-friendly commitments</a> at a recent Bitcoin conference, including an advocacy of a national Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) stockpile. The event was largely attended by Republican politicians.&nbsp;
Trump had earlier warned that t<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39817200/donald-trump-comments-on-crypto-pivot-if-we-dont-do-it-china-will">he U.S. must embrace digital currencies to prevent China</a> from dominating the field.
Price Action: At the time of writing, Bitcoin is exchanging hands at $65,786.08, down 1.56% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40057615/xrp-outperforms-bitcoin-ethereum-to-rise-as-top-gainer-today-analyst-predicts-bullish-brea">XRP Outperforms Bitcoin, Ethereum To Rise As Top Gainer Today, Analyst Predicts &#8216;Bullish Breakout&#8217; Even As The Coin Lags Broader Market In 2024</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Markets

$BTC

Bill Hagerty Says Bitcoin Has To Thrive In the US — Senator Admits Republicans Have Evolved From Initial Skepticism

Outlook 
&ndash; 
We will now target a return on average tangible equity (&lsquo;RoTE&lsquo;), excluding the impact of notable items, in the mid-teens for both 2024 and 2025. 
&ndash; 
Based upon our current forecasts, we expect banking NII of around $43bn in 2024. This guidance remains dependent on the path of interest rates globally. 
&ndash; 
While loan growth was 1% in 1H24, revenue has continued to benefit from elevated interest rates. Over the medium to long term, we continue to expect mid-single digit year-on-year percentage growth in customer lending. 
&ndash; 
We are reiterating our cost growth guidance of approximately 5% for 2024 compared with 2023, on a target basis, and now expect ECL charges as a percentage of average gross loans in 2024 to be within our medium-term planning range of 30bps to 40bps (including customer lending balances transferred to held for sale). 
&ndash; 
Our guidance reflects our current outlook for the global macroeconomic environment, including customer and financial markets activity. This includes our modelling of a number of market dependent factors, such as market-implied interest rates (as of mid-July 2024), as well as customer behaviour and activity levels. 
&ndash; 
We intend to manage our CET1 capital ratio within our medium-term target range of 14% to 14.5%, with a dividend payout ratio target basis of 50% for 2024, which excludes material notable items and related impacts. 
&ndash; 
Note: we do not reconcile our forward guidance on RoTE excluding notable items, target basis operating expenses, dividend payout ratio target basis or banking NII to their equivalent reported measures.

Guidance

HSBC

HSBC 2024 Outlook: Sees NII Of Around $43B And RoTE In The Mid-Teens; Expects To Maintain the CET1 Capital Ratio Within 14% To 14.5%

HSBC Holdings 1H24 Adj. EPADS $3.40 Down From $3.50 YoY, Revenue $37.292B Up From $36.876B YoY

Financial Outlook
Our Q3&rsquo;24 outlook and updated full year 2024 guidance reflects the recent trends on our marketplace.
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td>Q3 2024</td>
<td>FY 2024</td>
</tr>
<tr>
<td>Revenue</td>
<td>$95.0 - $97.0 million</td>
<td>$383.0 - $387.0 million</td>
</tr>
<tr>
<td>y/y growth</td>
<td>3% - 5% y/y growth</td>
<td>6% - 7% y/y growth</td>
</tr>
<tr>
<td>Adjusted EBITDA(1)</td>
<td>$17.0 - $19.0 million</td>
<td>$69.0 - $73.0 million</td>
</tr>
</tbody>
</table>

FVRR

Fiverr Updates 2024 Outlook: Now Sees Revenue $383M-$387M (Prior $381M-$387M) Vs. $384.485M Consensus And Adjusted EBITDA Of $69M-$73M (Prior $67M-$73M)

Fiverr Expects Q3 Revenue Of $95M-$97M Vs. $97.726M Consensus And Adjusted EBITDA Of $17M-$19M

Fiverr International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) reported quarterly earnings of $0.58 per share which beat the analyst consensus estimate of $0.55 by 5.45 percent. This is a 18.37 percent increase over earnings of $0.49 per share from the same period last year. The company reported quarterly sales of $94.663 million which beat the analyst consensus estimate of $94.621 million by 0.04 percent. This is a 5.90 percent increase over sales of $89.385 million the same period last year.

Earnings Beats

Fiverr International Q2 2024 Adj. EPS $0.58 Beats $0.55 Estimate, Sales $94.663M Beat $94.621M Estimate

Editor's note: This story has been updated with additional context regarding recent conflicts between Israel and Hamas to provide a better understanding for our readers.
The leader of the Palestinian militant group Hamas, Ismail Haniyeh, was assassinated in Tehran, Iran. The group has accused Israel of orchestrating the attack.
What Happened: The Hamas leader was killed in an airstrike in Tehran. The paramilitary Revolutionary Guard of Iran confirmed the news on Wednesday, <a href="https://apnews.com/article/iran-hamas-israel-30968a7acb31cd8b259de9650014b779">reported</a> Associated Press.
Israel has been vocal about its intentions to eliminate Haniyeh and other Hamas leaders following the group&#8217;s attack on Israel on Oct. 7, which resulted in the deaths of 1,200 people and the capture of 250 others.
Hamas declared Haniyeh a martyr, stating he was killed in a &#8220;Zionist airstrike.&#8221; The group also quoted him on the costs of the Palestinian cause.
Haniyeh was in Tehran to attend the inauguration of Iran&#8217;s new president, Masoud Pezeshkian, on Tuesday. Hamas has declared Haniyeh a martyr and stated that the Palestinian cause is worth the sacrifice.
Israeli military spokespersons have not yet commented on the incident. There has been no immediate reaction from the White House. The Biden administration has been <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">pushing for a cease-fire</a> and hostage-release deal between Hamas and Israel.
See Also: <a href="https://www.benzinga.com/news/24/07/40029450/lindsey-graham-reportedly-tried-to-persuade-trump-to-not-pick-jd-vance-as-his-running-mate-gop-senat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lindsey Graham Reportedly Tried To Persuade Trump To Not Pick JD Vance As His Running Mate: GOP Senator Wanted This Candidate As Ex-President&#8217;s VP Pick</a>
Why It Matters: Haniyeh&#8217;s assassination comes at a critical time. The Biden administration has been actively involved in efforts to broker a ceasefire and secure the release of hostages taken by Hamas during the Oct. 7 attack. President Joe Biden and Vice President Kamala Harris recently met with Israeli Prime Minister Benjamin Netanyahu in Washington to <a href="https://www.benzinga.com/general/politics/24/07/39971210/biden-harris-meet-netanyahu-to-discuss-ending-prolonged-israel-hamas-war-report">discuss these issues</a>.
Israel has been <a href="https://www.benzinga.com/markets/asia/24/07/39851210/israeli-forces-intensify-attacks-in-gaza-southern-lebanon-ahead-of-netanyahus-visit-to-us-congress">intensifying its attacks in Gaza</a> and southern Lebanon, leading up to Netanyahu&#8217;s visit to the U.S. Congress.
Fuad Shukr, head of Hezbollah's operations center, ordered the attack in which the group fired an Iranian Falaq-1 rocket directly at a soccer field in northern Israel on Saturday evening, resulting in the deaths of 12 children, <a href="https://www.idf.il/en/mini-sites/hamas-israel-war-24/briefings-by-idf-spokesperson-rear-admiral-daniel-hagari/july-24-press-briefings/press-briefing-by-idf-spokesperson-radm-daniel-hagari-july-31/">according</a> to Israel Defense Forces military spokesman Rear Admiral Daniel Hagari.
Furthermore, ahead of U.S. Secretary of State Antony Blinken's visit to the Middle East, a senior Hamas official urged the U.S. to <a href="https://www.benzinga.com/news/24/06/39245947/hamas-urges-us-to-pressure-israel-to-end-war-in-gaza-ahead-of-antony-blinkens-middle-east-visit">pressure Israel to halt the ongoing conflict in Gaza</a>. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40001605/anthony-scaramucci-says-donald-trumps-verbal-sparring-with-kamala-harris-a-mistake-adds-vice-preside?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Says Donald Trump&#8217;s Verbal Sparring With Kamala Harris A Mistake, Adds Vice President Can &#8216;Shock The World&#8217; In Terms Of Skillset And Capability</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Global

Hamas Leader Visiting For Inauguration Of New Iranian President Assassinated In Alleged Israeli Airstrike, Revolutionary Guard Confirms Strike (UPDATED)

Medical marijuana company Bloomwell Group GmbH released a report Wednesday on Germany's private medical marijuana market. The Frankfurt-based company serves as the centralized digital infrastructure for medical cannabis distribution, consultations and treatment including via telemedicine and dispensing. The analysis comes after major cannabis reform in Germany with the implementation of the Cannabis Act (CanG). 
When partial cannabis legalization <a href="https://www.benzinga.com/markets/cannabis/24/04/38023610/heres-what-you-need-to-know-about-weed-legalization-in-germany-that-just-took-effect" target="_blank" rel="noreferrer noopener">took effect in Germany on April 1</a>, it allowed adults over 18 to legally possess up to 25 grams of dried cannabis and cultivate up to three plants at home. One of the biggest breakthroughs under the law is that medical cannabis is essentially <a href="https://www.benzinga.com/markets/cannabis/24/07/39830117/medical-marijuana-regulated-as-ibuprofen-is-one-of-the-biggest-breakthroughs-of-germanys-cannabi" target="_blank" rel="noreferrer noopener">regulated like ibuprofen</a>.
What else changed since then? Per the report, the price for medical marijuana flower initially rose slightly following its reclassification as a non-narcotic. However, costs quickly stabilized and then dropped in June. More importantly, patients are now paying an average of half the price for medical marijuana prescriptions, compared to what they paid at the beginning of 2023.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/40017479/medical-marijuana-to-be-more-widely-reimbursed-in-germany-hemp-bill-attracts-investors-and-more-" target="_blank" rel="noreferrer noopener">Medical Marijuana To Be More Widely Reimbursed In Germany, Hemp Bill Attracts Investors And More Cannabis News</a>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="970" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-1024x970.jpg" alt="" class="wp-image-465993" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-1024x970.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-300x284.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e-768x728.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163635/bloomwell_barometer_grafiken_6-e.jpg 1140w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
"Through the Bloomwell platform, which is by far the largest of its kind in Europe, we have been able to gather and analyze a significant amount of data on medical cannabis prescriptions, patient preferences and the market as a whole," stated Niklas Kouparanis, CEO and co-founder of the Bloomwell Group. "In addition to accommodating price-sensitive patients with lower and more affordable prescription costs, our findings show that due to imports from more than 20 countries – the majority being from Canada – we have a steady cannabis supply to meet increased demand, and an immense variety of flower strains to meet the preferences of patients and physicians. However, as our market continues to grow, we'll need to continue to ramp up the amount of cannabis we import, as we're projecting that Germany will be the number one medical cannabis market in the world."
<h2 class="wp-block-heading">Key Takeaways</h2>
The report's findings are based on the Bloomwell Group's internal data and analysis of the tens of thousands of prescriptions dispensed via its medical cannabis platform from January 2023 through June 2024. 
Highlights include:
<ul>
<li>Patients are being provided with a greater variety of cannabis flower strains than ever before. In June 2024 alone, pharmacies dispensed a total of 237 different varieties of medical cannabis flower strains via the Bloomwell digital platform.</li>
<li>Over 50% of the medical cannabis flower prescribed is classified as "inexpensive" or "very inexpensive." The average price per gram is less than 9 euros ($9.73). To put this in perspective, in the U.S. the average price per gram for medical marijuana flower is from $10 to $20, according to data from <a href="https://www.nuggmd.com/blog/medical-marijuana-cost-by-state" target="_blank" rel="noreferrer noopener">Nuggmd</a>.</li>
<li>Certain varieties of medical cannabis flowers, which previously cost €10 per gram at the beginning of 2023 are now priced at 5 euros per gram.</li>
<li>Prescribed medical cannabis flower averages a potency of just over 20% THC.</li>
<li>Patients and doctors have the option of choosing cannabis flowers that are either irradiated (treated to eliminate potential microbial contaminants) or non-irradiated flower; preferences indicate that a slight majority of patients prefer non-irradiated flower. Since the beginning of the year, the ratio of irradiated to non-irradiated flowers has been relatively equal.</li>
</ul>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="970" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-1024x970.jpg" alt="" class="wp-image-465990" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-1024x970.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-300x284.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e-768x728.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30163455/bloomwell_barometer_grafiken_3-e.jpg 1140w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/03/37423458/huge-benefits-for-medical-marijuana-patients-opportunities-for-innovation-research-industry-vets" target="_blank" rel="noreferrer noopener">Huge Benefits For Medical Marijuana Patients, Opportunities For Innovation &amp; Research – Industry Vets Weigh In On Germany&#8217;s Cannabis Reform</a>
The report concludes that the industry has been well-prepared with a consistent marijuana supply to meet the substantial spike in new medical marijuana patients after April 1.
"It's extremely promising that medical cannabis is moving into the mainstream alongside other valued and reliable Rx prescriptions, and can now be prescribed more seamlessly for common issues such as sleep disorders and migraines,&#8221; said Bloomwell Group co-founder Dr. Julian Wichmann, MD. &#8220;Medical cannabis treatment for these ailments, which has been approved since 2017 and has shown to be helpful in relieving the symptoms stemming from these common conditions while often resulting in few or even zero side effects, should not be stigmatized. It's excellent news for patients and physicians alike that effective therapy with medical cannabis is now more widely available following reclassification to help people with various common conditions that affect millions."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/12/36423626/this-european-country-is-expected-to-have-millions-of-medical-marijuana-patients-say-experts" target="_blank" rel="noreferrer noopener">Is Germany Poised To Become The Next Weed Epicenter In Europe?</a></li>
</ul>
Photo: Courtesy of Maxim Apryatin via Shutterstock

Cannabis

Eurozone

Medical Marijuana Patients In Germany Benefit from 50% Price Reduction Thanks To Legalization, New Report

Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) CEO Satya Nadella on Tuesday said that the <a href="https://www.benzinga.com/markets/equities/24/05/38754837/microsoft-challenges-apple-and-google-with-web-based-gaming-store-report">company&#8217;s gaming platforms</a> have crossed the&nbsp;500 million monthly active users&nbsp;mark.
What Happened: During <a href="https://www.benzinga.com/news/earnings/24/07/40051051/microsoft-q4-earnings-highlights-revenue-beat-eps-beat-cloud-revenue-up-21-yoy-ensuring-we-lead-the">Microsoft&#8217;s fourth-quarter earnings</a> call, Nadella said, &#8220;We now have over 500&nbsp;million monthly active users across platforms and devices.&#8221; 
He further noted that the company&nbsp;previewed a record 30 new&nbsp;titles this quarter, including the highly awaited&nbsp;Call of Duty: Black Ops&nbsp;6 which will be available on Game Pass. &#8220;And our content pipeline has never been stronger.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/40003714/first-iphone-16-models-may-not-have-apple-intelligence-features-as-cupertino-delays-ai-integration-f?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">First iPhone 16 Models May Not Have Apple Intelligence Features As Cupertino Delays AI Integration For iOS 18 Overhaul: Report</a>
Microsoft CFO Amy Hood said that the gaming revenue of Microsoft witnessed a substantial rise of 44%, with a 48-point&nbsp;net impact from the Activision <a href="https://www.benzinga.com/government/24/05/38594937/microsofts-75b-acquisition-of-activision-cleared-of-insider-trading-concerns-by-sec">acquisition</a>.
&#8220;Xbox content and services revenue increased 61%, slightly ahead of expectations, with 58 points of net impact from the Activision acquisition,&#8221; she added.
Nadella also touched upon the successful launch of Fallout&nbsp;as a TV show on&nbsp;Amazon Prime, which became the second most-watched title on the platform. This resulted in a <a href="https://www.benzinga.com/general/entertainment/24/04/38260627/prime-videos-fallout-series-sparks-record-game-revival-fallout-76-hits-all-time-high">nearly fivefold increase in&nbsp;hours</a> played on Game Pass&nbsp;for the Fallout franchise quarter-over-quarter, he stated.
Microsoft anticipates gaming revenue growth in the mid-30s for the first quarter, propelled by the Activision acquisition. However, hardware revenue is projected to decline year-over-year, according to CFO Hood.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Microsoft reported fourth-quarter revenue of $64.7 billion, marking a 15% increase from the previous year. This figure exceeded the Street&#8217;s consensus estimate of $64.36 billion, according to data&nbsp;<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent073024&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
During the call, Nadella was asked how investors should feel about the <a href="https://www.benzinga.com/general/gaming/24/07/39779849/gaming-industry-revenues-to-hit-307-billion-by-2027-analysis">growth potential of the investment</a> Microsoft is pouring into the gaming segment. In response, he said, their goal was to build a comprehensive portfolio that spans various gaming platforms, including Xbox, PC, and mobile.
He spoke about the <a href="https://www.benzinga.com/general/gaming/23/12/36339672/sony-estimates-1-5b-loss-due-to-microsofts-activision-blizzard-acquisition-our-pillars-are-already">significance of the Activision portfolio</a>, noting that it provides valuable assets for both PC and console gaming, as well as mobile platforms, which Microsoft had previously lacked.
Price Action: At the time of writing, Microsoft shares were down 2.72% to $411.40 in after-hours trading. The company ended the regular session on Tuesday at $422.92, down 0.89%.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40000381/elon-musks-ai-ambitions-mark-zuckerbergs-apple-critique-and-taiwans-100b-economic-reform-this-week-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s AI Ambitions, Mark Zuckerberg&#8217;s Apple Critique, And Taiwan&#8217;s $100B Economic Reform: This Week In AI</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gaming

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Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) has teamed up with Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) to develop a new <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">AI accelerator standard</a>, a move that could potentially disrupt the AI hardware market.
What Happened: The new standard, Ultra Accelerator Link, is designed to efficiently connect hundreds of AI accelerators, the chipmaker said in its <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">second-quarter earnings call</a>. 
The partnership also includes other major tech players like Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), and Hewlett Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>), indicating broad industry support for the initiative. 
During AMD&#8217;s second-quarter earnings call, CEO Lisa Su highlighted the importance of this industry-wide effort. The UAL technology is based on AMD&#8217;s proven Infinity Fabric, which has been a key component in the company&#8217;s data center products.
The partnership comes at a time when the demand for AI computing power is surging, driven by advancements in generative AI and the development of more sophisticated models. This standardization effort could potentially lower barriers to entry in the AI hardware market and accelerate the deployment of large-scale AI systems.
For Microsoft, Meta, and Google, aligning with AMD on this standard could provide more <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">options and flexibility</a> in their AI infrastructure. 
See Also: <a href="https://www.benzinga.com/news/earnings/24/07/40004774/dow-jumps-over-650-points-following-inflation-data-fear-greed-index-moves-to-neutral-zone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dow Jumps Over 650 Points Following Inflation Data: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</a>
Why It Matters: AMD&#8217;s recent second-quarter earnings report showed a notable 9% increase in revenue to $5.84 billion, surpassing expectations. The company&#8217;s data center business, particularly its new AI chip, the MI300X, played <a href="https://www.benzinga.com/markets/equities/24/07/40057114/amds-results-proved-our-plan-to-reinvest-in-the-stock-was-right-says-jim-cramer-who-credits-lisa">a crucial role in this performance</a>. Jim Cramer praised CEO Su for AMD&#8217;s success, reinforcing investor confidence.
Moreover, AMD&#8217;s results also <a href="https://www.benzinga.com/news/earnings/24/07/40051646/amd-shares-rebound-after-chipmaker-posts-q2-beat-guidance-tops-expectations-ceo-lisa-su-says-ai-bus">highlighted strength in its data center revenue</a>, defying concerns about potential order cutbacks from Microsoft and competition from NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). The semiconductor stock saw a nearly 8% rise in after-hours trading following the earnings announcement.
Microsoft has also been enhancing its AI capabilities, integrating advanced models from OpenAI and hardware accelerators from both Nvidia and AMD into its Azure cloud platform. CEO Satya Nadella emphasized the importance of these advancements in maintaining a <a href="https://www.benzinga.com/news/24/07/40056911/in-nvidia-and-amd-arm-pc-race-lisa-su-optimistic-about-product-positioning-despite-market-underrepre">competitive edge in the AI market</a>.
Additionally, AMD&#8217;s CEO, Su, expressed optimism about the <a href="https://www.benzinga.com/news/24/07/40056911/in-nvidia-and-amd-arm-pc-race-lisa-su-optimistic-about-product-positioning-despite-market-underrepre">company&#8217;s positioning in the AI PC market</a> despite its underrepresentation. She highlighted the upcoming launch of Zen 5-based products for both notebooks and desktops, reinforcing AMD&#8217;s commitment to innovation and competition.
Price Action:&nbsp;AMD shares surged 7.64% in after-hours trading, reaching $149.02, after closing Tuesday's regular session at $138.44, a decrease of 0.94%, according to&nbsp;<a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">Benzinga Pro data.</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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AMD Partners With Microsoft, Meta, And Google On New AI Accelerator Link Standard To Challenge Nvidia's Dominance

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