News

US Senate committee opens review into Meta efforts to gain Chinese market access

WASHINGTON (Reuters) -A U.S. Senate investigative subcommittee on Tuesday opened a review into efforts by Facebook parent Meta Platforms to gain access to the Chinese market and is seeking documents from the company. Senator Ron Johnson, who chairs the Permanent Subcommittee on Investigations, joined by Senator Richard Blumenthal, the top Democrat, and Senator Josh Hawley, asked Meta CEO Mark Zuckerberg about allegations that it worked to build censorship tools for the Chinese Communist Party as part of its attempt to gain entry to the Chinese market, according to a letter seen by Reuters.

nCino’s (NASDAQ:NCNO) Q4 Earnings Results: Revenue In Line With Expectations But Stock Drops 17.6%

Bank software company nCino (NASDAQ:NCNO) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 14.3% year on year to $141.4 million. On the other hand, next quarter’s revenue guidance of $139.8 million was less impressive, coming in 4% below analysts’ estimates. Its non-GAAP profit of $0.12 per share was 35.1% below analysts’ consensus estimates.