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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
HomeStock InsidersIonQ (NYSE: IONQ)...

IonQ (NYSE: IONQ) Reports Financial Results, Shares Up As It Shares Continue To Climb

IonQ (NYSE: IONQ) surged in pre trading session on Monday as the firm announced financial results for the quarter and full year ended December 31, 2022, and provided a business update.

President and CEO of IonQ, Peter Chapman stated that IonQ had a fantastic 2022. The most developed and well-funded public pure play quantum computing business in the world, they continue to dominate their sector.

“Our FY22 objective of 25 #AQ was achieved early, and our FY23 goal of 29 #AQ assures that we will continue to fight to extend our technological leadership in the sector. Our systems are expected to remain the most powerful in the world as we continue to execute on our technology roadmap, enabling our clients to tackle their most challenging issues.”

While market conditions have slowed demand for some technologies, even hurting some of our counterparts, Chapman emphasized that IonQ is still growing. While customers and prospects continue to express enthusiasm and commitment for both our leading-edge quantum computers and the whole quantum future, our financial prognosis for the year projects even quicker growth than in 2022.

IonQ’s diverse business model and alliances with several major, international banks made the company’s exposure to recent banking industry developments irrelevant. IonQ is certain that this strategy will benefit the company going forward.

Based on the present roadmap, IonQ is confident in the condition of its cash and other financial assets and thinks they give the Company enough reserves to reach profitability without having to raise further money.

In the fourth quarter, net loss was $18.6 million as opposed to $74.1 million in the same period the year before. For the whole year 2022, net loss was $48.5 million as opposed to $106.2 million in 2021.

Entangled Networks, a Toronto-based business that specializes in creating full-stack quantum compilers and the next generation of networked quantum computer architectures, has been acquired by IonQ.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Alphabet Inc. (NASDAQ: GOOGL) In Talks to Reduce European IT Jobs After ‘Disastrous’ Layoffs

Shares of Alphabet Inc. (NASDAQ: GOOGL) inches down in pre session on Thursday after big American IT businesses are suddenly discovering how hard it is to decrease personnel in Europe after announcing the greatest rounds of layoffs in their...

Apple Inc. (NASDAQ: AAPL) Unveils Appearance of Its First Retail Location in India

Shares of Apple Inc. (NASDAQ: AAPL) inches down in afterhours trading as many people rushed to get a glance of the store's black and yellow artwork, which was modeled after Mumbai's famous cabs, as the company unveiled the appearance...

Credit Suisse (NYSE: CS) and UBS Group AG (NYSE: UBS) In Flux after Probe into Credit Suisse Acquisition

Credit Suisse (NYSE: CS) and UBS Group AG (NYSE: UBS) shares revamp its position on Tuesday from previous session following the emergency merger of the two lenders was the subject of an inquiry by Switzerland's federal prosecutor. The prosecutor has...

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