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WATCH: Russell Wilson gets 1st touchdown with Broncos, a 67-yard throw to Jerry Jeudy

Planet Labs Q2 Results Beat Street View, Lifts FY23 Revenue Outlook; Shares Up 11%

Shares of Planet Labs PBC (PL) are gaining nearly 11% in extended session on Monday after reporting second-quarter results and lifting revenue outlook for the full year.

Second-quarter net loss was $39.5 million or $0.15 per share, compared to net loss of $20.4 million or $0.46 per share last year.

Revenues for the quarter gained to $45.5 million from $30.4 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.16 per share and revenues of $42.36 million.

“Planet’s results for the second quarter exceeded expectations across the board and demonstrate the continued acceleration of our growth rate and robust demand for our unique Earth data solutions,” said Will Marshall, Planet’s Co-Founder, Chief Executive Officer and Chairperson.

Looking forward to the third quarter, Planet expects revenue of about $45 million to $48 million. Analysts currently estimate revenues of $46.57 million.

For the full year 2023, Planet has increased its revenue outlook and expects it to be in the range of approximately $182 million to $190 million. Previously, the company expected revenues of $177 million to $187 million. Analysts currently estimate revenues of $182.03 million.

PL closed Monday’s trading at $5.42, up $0.06 or 1.12%, on the NYSE. The stock further gained $0.59 or 10.89% in the after-hours trading.

AppLovin Ditches Merger Plan With Unity Software

AppLovin (APP), Monday announced its decision to ditch its plans to merge with Unity Software Inc. (U).

In statement, the company said it does not intend to submit another proposal to combine with Unity Software and has withdrawn its initial proposal from August 9, 2022.

Last month, the mobile technology company submitted a merger proposal to the Board of Directors of video game software development company Unity Software. The all-stock merger consideration would value Unity at $58.85 per share, 18% premium to the closing price as on August 8. The enterprise value of the deal is estimated at $20 billion.

The company said that “following careful consideration, it has concluded that its path as the independent market leader is better for its stockholders and other stakeholders. AppLovin will move forward with the intention of continuing to gain market share and expand its platform.”

“We remain excited about the long-term growth potential of our core markets and AppLovin,” said Adam Foroughi, CEO and Co-founder of AppLovin. “Our experienced and dedicated team will continue to focus on what we can control, including continual improvements to our products and technology and expanding into newer high-growth markets.”

A Dozen Reasons to Drink Beaujolais

A number of terrific wines from the region are available now. They range from the simple thirst-quenchers of old to the surprisingly complex.

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By Eric Asimov

Add a Bit of Art to Your Breakfast Platter

The new Takashi Murakami pancake pans leave the artist’s signature flower patterns on 5-inch griddle cakes.

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By Florence Fabricant

Oracle Corp. Q1 Profit Drops

Oracle Corp. (ORCL) announced earnings for first quarter that decreased from last year

The company’s earnings came in at $1.55 billion, or $0.56 per share. This compares with $2.46 billion, or $0.86 per share, in last year’s first quarter.

Excluding items, Oracle Corp. reported adjusted earnings of $2.83 billion or $1.03 per share for the period.

The company’s revenue for the quarter rose 17.7% to $11.45 billion from $9.73 billion last year.

Oracle Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $1.55 Bln. vs. $2.46 Bln. last year.
-EPS (Q1): $0.56 vs. $0.86 last year.
-Revenue (Q1): $11.45 Bln vs. $9.73 Bln last year.

The Exhibit ‘Food in New York’ Comes to New York

It first opened in the Victoria & Albert Museum in London and covers issues like sustainability, labor, access to food and more.

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By Florence Fabricant

WATCH: Russell Wilson gets 1st touchdown with Broncos, a 67-yard throw to Jerry Jeudy

Russell Wilson got his first touchdown pass with the Broncos. And it was a big one.

Denver’s starting quarterback connected with Jerry Jeudy midway through the second quarter on a floater by the Seattle 40-yard line. The receiver then took off, running past Seattle’s Josh Jones en route to a 67-yard touchdown.

The score tied the game at 10-apiece.