Track market-moving stories before they get noisy

Bumble on Tuesday posted first-quarter revenue above estimates as the online dating platform's strategy to win back younger ​users starts to bear fruit.

As Bumble gets ready for a big overhaul meant to win back Gen Z users (who are pretty over dating apps right now), its latest earnings still reports that paying users are declining. In the first quarter of 2026, total paying users fell 21.1% to 3.2 million, down from 4 million a year ago. 

This has been the story for a few quarters now. However, during the call to investors this afternoon, Bumble has framed this as a deliberate shift toward higher-quality, more intentional users.

So while total revenue dropped 14.1% to $212.4 million (though it did beat expectations), and Bumble app revenue fell to $172.7 million, its total average revenue per paying user increased nearly 9%. It also reported higher profits: Net earnings increased to $52.6 million compared to $19.8 million in the year-ago quarter (largely from cutting sales and marketing expenses).

On the company’s investor call, founder and CEO Whitney Wolfe Herd described the paid-user decline as part of an intentional reset. “This is a period of real transformation at Bumble over the past few quarters,” she said. “We have executed a deliberate reset of our member base. We made a clear choice to prioritize quality over quantity, focusing on well-intentioned, engaged members. That decision reduced overall scale, but meaningfully improved the health of our ecosystem.”

Still, even with that framing, a shrinking paying user base is hard to ignore. That’s why much of the conversation on the call was more about what comes next. Bumble is asking investors to look ahead to its massive overhaul, which it hopes will eventually reverse the trend.

“When do we start to see a rebound in the numbers you’re all looking for? Well, the answer is very simple. When our technology and our next-gen recommendation engine can actually help better connect people more compatibly and show people who they want to see and out on great dates. That’s where the magic happens,” Herd said.

The overhaul refers to replacing Bumble’s old technology platform with a cloud-native, AI-powered one so it can improve matches and roll out updates more quickly. This is already starting to roll out to some users and will expand over the next few months.

The more noticeable changes, though, are coming later. Bumble said on Tuesday that its full “reimagined” experience for members is now expected to launch in Q4, with a broader rollout continuing into late this year and early next year. That’s a bit later than earlier expectations and shows this is going to be more of a phased rollout than a single big relaunch.

And the changes themselves sound pretty significant. The company is making a big bet that the swiping model is outdated and most matches never turn into actual dates. The company wants to fix that by redesigning profiles, changing how people interact, and focusing a lot more on getting users to meet in real life.

AI is a huge part of that plan. Earlier this year, Bumble introduced something called “Bee,” a built-in matchmaker that learns daters’ preferences, relationship goals, and communication style, then suggests matches based on those factors. In a feature called “Dates,” Bee may even explain why two people are a good fit before they connect. 

Profiles are changing too. Bumble has been experimenting with more detailed, “chapter-style” profiles that go beyond just photos and a short bio. 

Additionally, Bumble is seeing some momentum outside of dating. Its friend-focused app, Bumble BFF, added a Groups tab last year where users can join chats, plan hangouts, and organize events. According to Herd, engagement there is growing, especially among Gen Z women. Group joins nearly doubled between December and March, the company touts. 

For now, Bumble is kind of in wait-and-see mode. The hope is that by fixing how people go from matching to actually going on dates, it can bring users back. But until that new experience is fully out there, it’s still just a bet.

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Bumble Inc. (BMBL) Q1 2026 Earnings Call Transcript

Will dating app malaise finally kill off the swipe? For Bumble, at least, that seems to be the case.

In an interview with Axios on Thursday, Bumble CEO Whitney Wolfe Herd confirmed that Bumble will get rid of swiping, the defining feature of 2010s dating apps.

“We are going to be saying goodbye to the swipe and hello to something that I believe is revolutionary for the category,” Wolfe Herd said.

Bumble is planning to overhaul its app later this year, following several disappointing quarters in which the app consistently lost paying users. In this year’s first quarter, Bumble’s paid users fell about 21% to 3.2 million, down from 4 million last year.

Redesigning the app is a pretty serious intervention, signaling to investors that the situation is dire. But like any good CEO, Wolfe Herd has done some verbal gymnastics to argue that Bumble is doing a very good job at losing money.

“This is a period of real transformation at Bumble over the past few quarters,” she said on this week’s quarterly earnings call. “We have executed a deliberate reset of our member base. We made a clear choice to prioritize quality over quantity, focusing on well-intentioned, engaged members. That decision reduced overall scale, but meaningfully improved the health of our ecosystem.”

Based on Wolfe Herd’s past comments about Bumble’s new direction, the company is expected to lean into AI — Bumble is even working on an AI dating assistant called Bee, and Wolfe Herd has made many comments over the years about how AI will be “a supercharger to love and relationships.”

Of course, dating apps already use AI to decide what users should be shown to one another. But Gen Z is trending more negative toward in-your-face AI features, and Wolfe Herd has expressed interest in more extreme futures, like having personal AI bots that date other AI bots for you. So, it’s unclear if these “Black Mirror”-like overtures will effectively attract users in their 20s. Bumble’s overhaul isn’t expected to launch until the last quarter of this year, so users will still be swiping for now.

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Bumble has a new AI assistant: a matchmaker named Bee. The dating app company recently revealed the new dating guru during its fourth-quarter earnings call, which was first reported by TechCrunch.

Essentially, Bee’s job is to learn about what users want in a partner through initial private conversations and to help them find matches through Bumble’s new “Dates” tool. Bee’s job will eventually get bigger, too. She will help plan dates and even ask for (anonymous) feedback about those dates in the same way a close friend with inside information might offer. In addition to the new AI tool, Bumble will be moving away from swiping right (yes) or left (no) and into entirely new territory, with Bee leading the charge.

In an interview with Axios, Bumble founder and CEO Whitney Wolfe Herd said that Bee’s introduction, along with the rest of the changes coming to the app, are due to the fact that users have simply outgrown swiping left or right. “Now, people are feeling exhausted. They’re feeling fatigued,” Wolfe Herd explained. “They feel like the swipe has degraded their love lives.” 

Bee’s introduction seems like a major change for the app. But for Bumble, it’s the latest in a number of recent changes. While the app used to only allow women to send the first message to potential matches, it abandoned that rule when it introduced the “opening moves” feature, which allowed men to answer preset prompt questions and gave women a 24-hour window to reply. Bumble explained at the time that it was responding to criticism that leaving women with the chore of making the first move “sometimes felt like just another thing to do on top of everything else” on the to-do list.

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In a May 5 press release, Wolfe Herd said the brand’s “reset” is already working to improve the app, but now the company is focused on the next phase of its revamp—it’s AI tool.

“We’re now focused on activating this higher-quality member base by launching a fully reimagined Bumble experience on our rebuilt, AI-enabled platform later this year,” the CEO explained. “This next chapter will deliver a more intuitive, personalized way to connect and help members move more confidently and quickly to in-person dates,” Wolfe Herd added.

For those who have been on dating apps for months or even years, it’s tough to imagine how Bumble will function without swiping, and with a virtual assistant in its place. But it’s also tough to imagine how dating apps like Bumble can continue down the same path they’ve been moving along for years. That’s because dating app fatigue has been hard to miss in recent years. According to a 2025 Forbes health survey, 78% of dating app users reported feeling burned out by endless swiping without real results.

“There are so many ways to meet people, but actually forming a real connection is much more rare. A lot of people are stuck between wanting something real and being afraid to really show up for [a relationship], put themselves out there, and truly be vulnerable,” Sabrina Romanoff, a Harvard-trained clinical psychologist and Forbes Health Advisory Board member, says per the report.

“People want connection, but they’re tired of the games, the ghosting, the emotional whiplash. Dating feels like a second job sometimes, with very little pay,” Romanoff adds. Likewise, that burnout showed up in Bumble’s own numbers. According to the brand’s latest earnings report, in the first quarter of 2026, total paying users fell 21.1% to 3.2 million, down from 4 million just last year.  

Burnout is likely a big part of why singles have been shifting away from dating apps for years now. But they’re not simply staying home. According to data shared with Axios, from 2022 to 2025, singles events advertised on the event’s page Eventbrite doubled. In 2024, event listings aimed at singles rose by 30%, and attendance skyrocketed by 85%. Therefore, singles are still seeking partners. But they no longer seem to believe in the power of the dating app.

Bumble’s AI is still in its beta-testing stage, but it will be here soon enough for users to test out. Bee is rolling out in select markets sometime in the fourth quarter, the company says. And, as far as dating app burnout goes, it seems she already has her work cut out for her.

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For the quarter ended March 2026, Fidelity National Information Services (FIS - Free Report) reported revenue of $3.3 billion, up 30.1% over the same period last year. EPS came in at $1.36, compared to $1.21 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $3.27 billion, representing a surprise of +0.66%. The company delivered an EPS surprise of +6.43%, with the consensus EPS estimate being $1.28.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Fidelity National performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenue- Corporate and Other: $98 million versus the five-analyst average estimate of $87.83 million. The reported number represents a year-over-year change of +96%.Revenue- Capital Market Solutions: $823 million versus the five-analyst average estimate of $818.97 million. The reported number represents a year-over-year change of +7.7%.Revenue- Banking Solutions: $2.37 billion versus $2.37 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +38.2% change.Adjusted EBITDA- Banking Solutions: $1.04 billion compared to the $977.16 million average estimate based on two analysts.Adjusted EBITDA- Corporate and other: $-158 million compared to the $-109.26 million average estimate based on two analysts.Adjusted EBITDA- Capital Market Solutions: $424 million compared to the $412.88 million average estimate based on two analysts.View all Key Company Metrics for Fidelity National here>>>

Shares of Fidelity National have returned +4.3% over the past month versus the Zacks S&P 500 composite's +11% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Key facts:

Commonwealth Bank of Australia (CommBank) is adopting FIS Data Integrity Manager to consolidate and automate reconciliation across the bank. Delivered in a SaaS model, the solution will process over 150 million transactions daily on a single, unified platform, enhancing operational efficiency and scalability. FIS is delivering the solution via Microsoft Azure, providing cloud-native scalability and seamless third-party integrations. JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global financial technology leader FIS® (NYSE: FIS) has been selected by the Commonwealth Bank of Australia (CommBank), the nation's largest bank, to streamline reconciliations through FIS Data Integrity Manager. In a banking environment, reconciliation ensures financial accuracy by verifying millions of daily transactions across complex systems. The fully-hosted solution will process over 150 million transactions per day.

FIS Data Integrity Manager delivers a modernized platform that supports the automation and management of all reconciliations across the enterprise. The platform uses real-time visibility and insights for more informed decision making, with automated alerts for discrepancies and a unified view across business lines—enabling teams to identify and resolve issues in minutes.

Delivered as Software as a Service (SaaS) via Microsoft Azure, upgrades to the solution will be managed by FIS, to support faster delivery of new capabilities. The platform's high-performance architecture enables the processing of exceptionally large data volumes in minutes rather than hours.

The engagement also leverages FIS' enterprise-grade risk, security, and compliance capabilities, including SOC1 and SOC2 certifications1, while supporting CommBank's federated software architecture.

Andrés Choussy, President, Capital Markets at FIS, said: “FIS is proud to partner with CommBank to deliver a cutting-edge reconciliation solution that meets the demands of a rapidly evolving financial landscape. By bringing reconciliation onto a single, intelligent platform, we are enabling CommBank to unlock seamless integration and operational efficiency while ensuring the stability, security, and compliance essential to supporting Australia's largest bank.”

David Pont, General Manager Financial Control & Transformation, Commonwealth Bank, said: “This implementation reflects our focus on investing in technology to continue to strengthen operations to ultimately benefit our customers. With FIS Data Integrity Manager, as a strategic partner we gain a platform that can scale with our business and support our continued growth.”

This strategic partnership highlights FIS’ leadership in financial technology innovation, showcasing its ability to help clients manage money seamlessly as it moves through the global economy.

About FIS

FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and X.

1 SOC1 (System and Organization Controls 1) and SOC2 (System and Organization Controls 2) are independent audit reports that verify a service provider's internal controls. SOC1 focuses on controls relevant to financial reporting, while SOC2 evaluates controls related to security, availability, processing integrity, confidentiality, and privacy.

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Key facts:

Glencore’s $2.55B oil and gas trade securitization is one of the largest oil and gas trade receivables transactions ever executed. Powering the transaction, the highly scaled FIS Supply Chain Finance Platform enables real-time monitoring and transparent receivables reporting across multiple jurisdictions. JACKSONVILLE, Fla.--(BUSINESS WIRE)--Global financial technology leader FIS® (NYSE: FIS) announced today that its Supply Chain Finance Platform (formerly Demica) was selected by Glencore PLC to support the inaugural trade receivables securitization program for its oil and gas commodity business.

Trade receivables securitization is a specialized form of structured trade finance enabling corporates to monetize large pools of receivables, thereby unlocking liquidity. Glencore’s $2.55B facility, backed by a consortium of six leading financial institutions, marks a significant milestone in the evolution of structured trade finance for the commodities sector.

Glencore PLC, one of the world's largest diversified natural resources companies and a leading marketer and producer of commodities across metals, minerals and energy products, selected the FIS Supply Chain Finance Platform to provide the technology infrastructure, reporting capabilities and operational support for this complex, multi-jurisdictional transaction.

The FIS Supply Chain Finance Platform provides the flexibility and functionality needed to deliver working capital solutions at scale. Deal set up, portfolio monitoring and reporting, securely hosted on Microsoft Azure, support programs across industries and client sizes.

The platform delivers:

Seamless onboarding capabilities that enable deployment across multiple counterparties and jurisdictions Real-time monitoring and reporting providing comprehensive visibility into receivables performance for all stakeholders Automated regulatory reporting that helps ensure adherence to regulatory reporting requirements throughout the facility lifecycle Scalable infrastructure supporting the processing and management of a diversified portfolio of global trade receivables “The size and scale of Glencore’s oil and gas trade securitization exemplifies how the FIS Supply Chain Finance Platform enables sophisticated financial structures that optimize working capital for global enterprises,” said Steve Sabin, SVP, Lending at FIS. “Our technology and expertise enable our clients to execute complex, cross-border receivables programs with confidence and transparency. By optimizing the movement of capital across the money lifecycle, we are helping businesses like Glencore to unlock money at work through liquidity and drive growth in global markets.”

About FIS

FIS is a financial technology company providing solutions to financial institutions and businesses. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X.

More News From Fidelity National Information Services

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On May 18, 2026, Fidelity National Information Services Inc FIS shares rose 3.8% to $43.37. The stock is currently trading within a 52-week range of $41.33 to $82.74, reflecting a significant decline over the past year.

GF Value™ verdict: Current price of $43.37 is 49.6% below the GF Value™ of $85.97.GF Score™: 65/100, indicating an above-average ranking.Most notable signal: Insiders have purchased $1.1 million worth of shares in the last three months, with no selling activity reported. Is FIS Overvalued or Undervalued? Fidelity National Information Services Inc FIS currently trades at $43.37, which is significantly below the GF Value™ estimate of $85.97. This presents a margin of safety of approximately 49.6%, suggesting that the stock may be undervalued at its current price level. However, it is important to exercise caution as the GF Valuation label indicates that FIS is a possible value trap, advising investors to think twice before making decisions based solely on the undervaluation signal.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Although the current price appears attractive relative to GF Value™, the context of the broader market and specific company challenges should be considered before drawing conclusions about FIS's investment potential.

How Does FIS's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 8.4x 67.5x Forward P/E 6.9x N/A The current P/E (TTM) of 8.4x is significantly below its historical 5-year median P/E of 67.5x, indicating that the stock is trading at a much lower valuation compared to its past. The forward P/E of 6.9x further supports the notion that FIS is undervalued relative to its historical performance. This P/E analysis aligns with the GF Value™ verdict, reinforcing the perspective that FIS may represent an attractive investment opportunity, albeit with caution regarding the potential value trap warning.

What Does FIS's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).

Metric Rating GF Score™ 65 Financial Strength 4/10 Profitability 7/10 Growth 7/10 Valuation 2/10 Momentum 2/10 The GF Score™ of 65/100 indicates that FIS is in an above-average position overall. Its strongest aspects lie in Profitability (7/10) and Growth (7/10), suggesting a solid operational foundation and potential for future performance. However, the Valuation (2/10) and Momentum (2/10) scores indicate significant concerns, reflecting the current market sentiment and valuation challenges. Overall, while FIS shows promise in certain areas, weaknesses in valuation and momentum pose risks that investors should monitor closely.

What Are Insiders Doing with FIS Stock? Recent insider activity for Fidelity National Information Services Inc FIS has shown that insiders have purchased $1.1 million worth of shares in the last three months, with no reported selling. This buying trend may suggest that insiders have confidence in the company's future prospects, which could be a bullish signal for potential investors. However, it is essential to consider that insider purchasing does not guarantee future stock performance and should be evaluated in the context of other fundamental and market factors.

What This Means for Investors Based on the analysis of GF Value™, Fidelity National Information Services Inc FIS is currently undervalued. While the significant discount from GF Value™ presents an opportunity, caution is warranted due to the classification as a possible value trap and the lower scores in valuation and momentum. Investors are encouraged to conduct thorough research and consider all aspects of the company's performance before making investment decisions.

For the complete analysis, visit the Fidelity National Information Services Inc FIS stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is FIS's GF Score™?

FIS's GF Score™ is 65/100, indicating an above-average ranking based on key factors that influence long-term returns.

Is FIS overvalued or undervalued?

FIS is currently undervalued, with a GF Value™ of $85.97 compared to its current price of $43.37, representing a 49.6% discount.

What is FIS's P/E ratio?

FIS has a P/E (TTM) ratio of 8.4x, which is significantly below its 5-year median P/E of 67.5x, indicating that the stock is trading at a much lower valuation compared to its historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Fidelity National Information Services, Inc. (FIS) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript

Key Takeaways FIS launched Enterprise Risk Suite on AWS with cloud-native risk management capabilities.FIS uses CI/CD deployment to deliver automatic software updates without disruptions.FIS could benefit as financial firms shift toward subscription-based cloud platforms. Fidelity National Information Services Inc. (FIS - Free Report) is accelerating its cloud transformation strategy with the launch of Enterprise Risk Suite on Amazon Web Services (AWS). The new offering introduces a cloud-native risk management platform designed to help financial institutions access the latest software capabilities without the disruption of traditional upgrade cycles. As market volatility and regulatory scrutiny intensify globally, the ability to run uninterrupted risk operations is becoming a critical requirement for banks, insurers and capital market firms.

The platform operates through a continuous integration and continuous delivery (CI/CD) framework, allowing institutions to automatically access the latest software version without lengthy upgrade processes or system disruptions. This approach modernizes how enterprise risk systems are deployed and maintained, replacing traditional upgrade cycles that often required additional time, resources and operational adjustments.

Built on a microservices-based cloud architecture, the suite enables firms to scale computing capacity according to workload demands. Financial institutions can run larger and more complex calculations while accessing additional processing power during periods of elevated market activity. The cloud-based structure also reduces dependence on costly on-premise infrastructure.

The launch further strengthens FIS’ standing in enterprise risk technology following its recognition as a Category Leader in the Chartis Credit Risk Management Systems report. The broader financial services industry is rapidly adopting cloud-based infrastructure to improve operational resilience and real-time analytics. Partnerships between fintech providers and cloud companies such as AWS are becoming increasingly central to modernization strategies across banking and capital markets.

The AWS deployment could support stronger recurring revenue growth for FIS over the long term as clients increasingly transition toward subscription-oriented cloud platforms. Competition remains intense from firms that are investing heavily in cloud-enabled analytics and risk systems. However, FIS benefits from a diversified technology ecosystem spanning payments, banking and capital markets, which may help the company deepen enterprise relationships and expand adoption of integrated financial infrastructure solutions in the years ahead.

FIS’ Price PerformanceOver the past year, FIS shares have declined 45.1% compared with the industry’s fall of 22%.

Image Source: Zacks Investment Research

FIS’ Zacks Rank & Key PicksFIS currently carries a Zacks Rank #3 (Hold).

Some top-ranked stocks in the business services space are Sezzle Inc. (SEZL - Free Report) , Dave Inc. (DAVE - Free Report) and Priority Technology Holdings, Inc. (PRTH - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Sezzle’s current-year earnings is pinned at $5.09 per share and has witnessed four upward revisions in the past 30 days against no movement in the opposite direction. Sezzle beat earnings estimates in each of the trailing four quarters, with the average surprise being 17.4%. The consensus estimate for current-year revenues is pegged at $592.6 million, implying 31.6% year-over-year growth.

The Zacks Consensus Estimate for Dave’s current-year earnings is pinned at $15.46 per share and has witnessed two upward revisions in the past 30 days against no movement in the opposite direction. Dave beat earnings estimates in each of the trailing four quarters, with the average surprise being 45.8%. The consensus estimate for current-year revenues is pegged at $710.2 million, implying 28.1% year-over-year growth.

The Zacks Consensus Estimate for Priority Technology’s current-year earnings is pinned at $1.24 per share and has witnessed one upward revision in the past 30 days against no movement in the opposite direction. Priority Technology beat earnings estimates in two of the trailing four quarters and missed twice, with the average surprise being 4.4%. The consensus estimate for current-year revenues is pegged at $1 billion, implying 8.5% year-over-year growth.

Key Takeaways FIS will help BankSouth replace legacy banking systems with an API-driven core platform.BankSouth expects fintech integration timelines to shrink from months to weeks using FIS Code Connect.FIS reported 45% Banking Solutions revenue growth in Q1 2026 amid modernization demand. Fidelity National Information Services Inc. (FIS - Free Report) has secured a new core banking agreement from BankSouth, strengthening its position in the fast-growing digital banking infrastructure market. The partnership will allow BankSouth to modernize its retail and commercial banking operations while improving its ability to integrate artificial intelligence tools and fintech applications more quickly.

BankSouth selected FIS to replace its legacy core banking platform with a more flexible and API-driven system. Through FIS Code Connect, the company’s open API integration platform, the transition is expected to significantly reduce the time required to launch new fintech partnerships, cutting implementation timelines from months to weeks. The bank will also gain access to enhanced payments capabilities, digital card tools and fraud prevention solutions through the FIS platform.

The deal reflects a broader trend across the banking sector, where regional and community banks are increasing technology investments to remain competitive against larger institutions and digital-first fintech firms. Many smaller banks are now prioritizing cloud-enabled infrastructure and open banking systems that can support faster innovation, real-time payments and AI-driven customer services without requiring large internal technology teams.

FIS is also benefiting from rising demand for AI-ready banking systems. Through standardized data feeds and integrated analytics tools, BankSouth plans to strengthen fraud detection, improve automation and deliver more personalized banking experiences.

For FIS, the agreement adds to its growing momentum in core banking modernization and embedded financial technology services. The company has been focusing heavily on cloud-based banking platforms, payment innovation and scalable software solutions for financial institutions of all sizes. As banks continue upgrading legacy systems to improve efficiency and customer engagement, FIS could see stronger recurring revenue opportunities and deeper long-term client relationships. In the first quarter of 2026, the company’s total revenues rose 30% year over year, along with 45% growth in its Banking Solutions segment’s revenues.

FIS’ Price PerformanceOver the past year, FIS shares have declined 45.5% compared with the industry’s fall of 22.7%.

Image Source: Zacks Investment Research

FIS’ Zacks Rank & Key PicksFIS currently carries a Zacks Rank #3 (Hold).

Some top-ranked stocks in the business services space are Sezzle Inc. (SEZL - Free Report) , Dave Inc. (DAVE - Free Report) and Priority Technology Holdings, Inc. (PRTH - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Sezzle’s current-year earnings is pinned at $5.09 per share and has witnessed four upward revisions in the past 30 days against no movement in the opposite direction. Sezzle beat earnings estimates in each of the trailing four quarters, with the average surprise being 17.4%. The consensus estimate for current-year revenues is pegged at $592.6 million, implying 31.6% year-over-year growth.

The Zacks Consensus Estimate for Dave’s current-year earnings is pinned at $15.46 per share and has witnessed two upward revisions in the past 30 days against no movement in the opposite direction. Dave beat earnings estimates in each of the trailing four quarters, with the average surprise being 45.8%. The consensus estimate for current-year revenues is pegged at $710.2 million, implying 28.1% year-over-year growth.

The Zacks Consensus Estimate for Priority Technology’s current-year earnings is pinned at $1.24 per share and has witnessed one upward revision in the past 30 days against no movement in the opposite direction. Priority Technology beat earnings estimates in two of the trailing four quarters and missed twice, with the average surprise being 4.4%. The consensus estimate for current-year revenues is pegged at $1 billion, implying 8.5% year-over-year growth.

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The Style Scores are broken down into four categories:

Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Fidelity National Information Services (FIS - Free Report) Headquartered in Jacksonville, FL, Fidelity National Information Services, Inc. provides banking and payments technology solutions, processing services and information-based services to the financial services industry. The company came into existence, following the merger with Certegy Inc., a provider of credit cards, debit cards, other transaction processing and check risk management services to financial institutions in 2006.

FIS is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 6.69; value investors should take notice.

Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $6.28 per share. FIS boasts an average earnings surprise of +1.9%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, FIS should be on investors' short list.

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JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS® (NYSE: FIS), a global leader in financial technology, will present on Tuesday, June 9, 2026, at the Mizuho Technology Conference at 10:30am ET.

A live audio webcast, as well as a replay, will be accessible on the Investor Relations section of FIS’ homepage, www.fisglobal.com.

About FIS

FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com. Follow FIS on LinkedIn, Facebook and X.

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Fidelity National Information Services, Inc. (FIS) Presents at Mizuho Technology Conference 2026 Transcript

The allure of low stock prices is obvious, but also potentially dangerous. A lot of stocks with single-digit stock prices are there for a reason. Many of them are also small or iffy outfits that are more likely to continue getting cheaper in the future.

I think I have some ideas that will fare well, and these companies are small -- but not tiny. Archer Aviation (ACHR 4.06%), Snap (SNAP 1.31%), and Stubhub (STUB +7.91%) all have market caps of at least $2 billion. These are the three stocks under $10 that I think are worth buying in May.

Image source: Getty Images.

1. Archer Aviation Like the promise of its speedy short-haul flights, Archer Aviation stock has its ups and downs. The market is just starting to crystallize for electric vertical takeoff and landing (eVTOL) aircraft. Archer and rival Joby Aviation (JOBY 2.24%) have captured investor interest ahead of the scaling of their businesses.

There has been some turbulence. Near-term revenue targets have been pared back by Wall Street pros as the industry gets ready to take off, literally and figuratively. The next few years should see a pretty dramatic top-line ramp-up based on current analyst projections.

2026: $14 million 2027: $114 million 2028: $512 million 2029: $1,609 million

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Archer's Midnight aircraft has a clear path on the growth runway when it does get rolling. Its high-end air taxi service has attracted airline carriers as partners. It will be the official air taxi provider for the 2028 Olympic Games, even buying a small regional airport near Los Angeles International Airport to make sure it can handle its moment in the spotlight. Even the U.S. Air Force is exploring the potential of Archer's aircraft for military missions.

It will take a few years for Archer to become profitable, and it will remain a high-beta stock. However, with higher annual revenue forecasts than Joby starting in 2028 -- but trading at a third of the enterprise value -- this Archer is primed to hit its target when it's time to let the arrows fly.

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2. Snap It's fair to say that Snapchat's parent company Snap isn't as popular as other visual social hubs like Instagram, TikTok, or YouTube. It's probably still more popular than you think.

Did you know that there are 956 million monthly active users on Snapchat? The platform that made filters or augmented reality lenses cool is also still growing. The audience has grown by 5% over the past year. Tack on a 7% increase in average revenue per user, and Snap's revenue rose 12% in its latest quarter. It posted back-to-back years of double-digit revenue growth before that. Wall Street pros see low double-digit growth through at least the next couple of years.

Reported profitability has been a problem, but the losses are narrowing. Analysts see Snap turning a profit by next year. It's generating healthy and positive free cash flow, more than doubling in its latest quarter. On an adjusted basis, Snap stock is actually cheap. The shares are trading for 10 times forward adjusted earnings and just 8 times next year's target.

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3. StubHub The popular online marketplace for resale tickets to concerts and sporting events has undergone a few ownership changes over the years. It went public in its present form at $23.50 a share just eight months ago. Since it's on the list of stocks below $10, you already know it has not gone well for its IPO investors.

StubHub has shed nearly two-thirds of its value since going public, but it's been rallying in recent weeks. It wound up on the favorable side of two legal rulings. One win was just StubHub settling a lawsuit alleging that it wasn't disclosing customer costs up front. The hub settled with the Federal Trade Commission for a reasonable $10 million. The other courtroom win came in a case for rival Live Nation (LYV +0.10%). The jury in that case found it liable for monopolistic pricing, and now some states want Live Nation separated from its Ticketmaster subsidiary.

There is still a potentially catastrophic legal headwind for StubHub. The United Kingdom and some Canadian provinces have moved to prevent platforms from selling event tickets above face value. This is naturally the lion's share of any third-party marketplace, so StubHub's business model is at risk if this continues to gain traction closer to home.

It's not the only thing holding StubHub back. After four years of heady growth, revenue dipped 1% last year. If inflation and gas prices keep revving higher, there will likely be less money spent on live events. The good news -- if you stomach the risk of court-mandated obsolescence -- is that you can buy StubHub for just six times next year's projected earnings.

Concept of augmented reality technology being used in futuristic smart tech glasses

getty

Snap’s first-quarter results gave investors something they have not always had from the company: evidence of operating discipline.

Revenue rose 12% year-on-year to $1.53 billion. Daily active users returned to growth, reaching 483 million. Adjusted EBITDA more than doubled to $233 million, while free cash flow climbed to $286 million. Net loss narrowed to $89 million.

On the surface, this was a cleaner Snap story: stronger engagement, better margins and a more credible path toward sustained cash generation.

But the more important strategic question sits outside the quarter. Snap is still asking investors to believe in Specs, its augmented reality glasses that are a bid to compete with Meta, Apple and Google for the next consumer computing surface.

Evan Spiegel used the results to reaffirm Snap’s commitment to “intelligent eyewear,” saying the company would keep investing in Specs and share more at AWE on June 16. Snap also pointed to an expanded Qualcomm collaboration, growth in Specs Lens creation, and use cases across learning, gaming and AI-powered experiences.

Why Snap Is Betting On Specs AR GlassesSpecs is Snap’s attempt to define the next computing interface before Apple, Meta or Google fully normalize it. Snap argues that it already owns several ingredients that should matter in AR: the camera habit, a large visual messaging network, a Lens creator ecosystem and a young audience comfortable using the camera as a communication layer.

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If augmented reality moves from the phone screen to the face, Snap wants to be more than an app inside someone else’s operating system. That is also what makes Specs vulnerable.

Specs Inc. And Irenic Capital’s Activist PressureIn January, Snap established Specs Inc. as a wholly-owned subsidiary, telling investors the structure “enables new partnerships and capital flexibility including the potential for minority investment” and “supports clearer valuation of the business.” The subsidiary was an acknowledgement that Specs needs to be financed and valued differently from the core advertising and subscription business.

Activist investor Irenic Capital took that signal further, urging Snap to spin off or shut down Specs.

Snap’s response, set out in an 8-K filing on 15 April, was a different kind of discipline: approximately 1,000 team members cut, 16% of full-time employees, more than 300 open roles closed and an annualized cost reduction of more than $500 million by the second half of 2026. The cuts created room for the conviction instead of retreating from it.

So the central tension in Snap’s Q1 is not whether the company is improving. It is whether that improvement earns management the right to keep funding one of the most speculative bets in consumer technology.

For shareholders aligned with Irenic, Specs can look like capital misallocation dressed up as vision. For Snap, abandoning it carries a different risk. The company remains subscale against Meta and Google in advertising and exposed to platform shifts it does not control. A successful AR glasses platform would give Snap something more defensible: a hardware-software interface built around the camera, not just another ad product inside a crowded social market.

The better question, then, is not whether Specs is expensive. By any reasonable measure, it is. The question is whether Snap can turn operating discipline into strategic permission.

Can AR Lenses scale into a real platform?Q1 helps Spiegel’s case. Snap showed stronger cash generation, tighter cost control and continuing AR engagement, with Snapchatters using AR Lenses more than 9 billion times per day on average and more than 400,000 Lenses submitted in the quarter, up more than 150% year-on-year.

But activist pressure means the clock is now louder. Specs does not need to become a mass-market hit immediately. It does need to prove that Snap’s AR advantage can travel from playful lenses to a developer platform with use cases, distribution and eventual monetization.

That is the real bet inside Snap’s earnings: not just that the company can recover, but that recovery can buy it enough time to invent what comes next.

Teenagers pose for a photo while holding smartphones in front of a Youtube logo in this illustration taken September 11, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab

May 15 (Reuters) - Alphabet's (GOOGL.O), opens new tab YouTube, Snap (SNAP.N), opens new tab and TikTok have reached settlements in the first case set for trial in ​litigation seeking to force social media platforms to cover the costs school districts ‌incur to combat a youth mental health crisis they say the companies fueled.

The settlements were detailed in court filings on Friday in federal court in Oakland, California, and resolve claims by a Kentucky school district that is still ​due to take Facebook and Instagram parent Meta Platforms (META.O), opens new tab to trial on June 15.

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Terms of ​the settlements with Breathitt County School District in rural Eastern Kentucky were not ⁠disclosed.

"This matter has been amicably resolved and our focus remains on building age-appropriate products and parental ​controls that deliver on that promise," a YouTube spokesperson said in a statement.

Snap, the parent company of ​Snapchat, said it resolved the case amicably. TikTok did not immediately respond to a request for comment.

More than 3,300 lawsuits involving addiction claims are pending in California state court against the social media companies. Another 2,400 cases brought ​by individuals, municipalities, states and school districts have been centralized in California federal court.

In a landmark trial, ​a Los Angeles jury on March 25 found Meta and Alphabet's Google negligent for designing social media platforms that ‌are ⁠harmful to young people. It awarded a combined $6 million to a 20-year-old woman who said she became addicted to social media as a child.

The companies have denied the allegations and say they take extensive steps to keep teens and young users safe on their platforms.

Breathitt is one of about 1,200 ​school districts suing the ​social media companies over ⁠claims they caused a mental health crisis among students and then saddled schools with the fallout.

The school district has been seeking over $60 million to cover ​the costs of counteracting social media's impact on students’ mental health and ​to fund ⁠a 15-year mental health program to abate the problem.

It also seeks a court order requiring the companies to modify their platforms to reduce addictive features.

Its case is a bellwether, or test case, for over a ⁠thousand ​similar school districts' lawsuits.

Judges and attorneys often use bellwether verdicts ​to assess the potential value of remaining claims and guide settlement talks. Typically, several bellwether cases are tried before reaching a ​broader resolution.

Reporting by Diana Novak Jones in Chicago and Nate Raymond in Boston; Editing by Tom Hogue

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© Chayantorn / iStock Editorial via Getty Images

Shares of Pinterest (NYSE:PINS | PINS Price Prediction) are down 6% in midday trading on Tuesday, changing hands near $18.75. The selling is sharper than what’s happening at the rest of the social media group, with Meta Platforms (NASDAQ:META) off 1% and Snap (NYSE:SNAP) lower by 2%.

The move extends an ugly stretch for Pinterest stock. Shares are down 28% year to date and 42% over the past year, well off the levels Pinterest held heading into February’s Q4 2025 report.

The longer-term picture is messier still. Pinterest stock is down 68% over five years, a chart pattern that points to structural issues, not just a bad Tuesday.

Why PINS Is Lagging the Group Today Today’s drop lacks a single confirmed catalyst. Pinterest is bearing the brunt of broader social media weakness because it sits at the intersection of several pressure points investors are reassessing.

The biggest is competition for visual discovery. Instagram Reels, TikTok, and YouTube Shorts have steadily encroached on the “ideas and inspiration” use case Pinterest pioneered, and generative AI tools like Google AI Overviews and ChatGPT visual search threaten to absorb the top-of-funnel search behavior that drives engagement.

Monetization is the other concern. Pinterest’s Q1 2026 guidance of $951 million to $971 million implies 11% to 14% growth, well below Meta Platforms’s Q1 2026 revenue growth of 33%. When budgets tighten, brand ad dollars tend to consolidate with Meta and Alphabet (NASDAQ:GOOGL), leaving Pinterest more exposed.

Putting the Three Stocks Side by Side Today’s headline reads “Pinterest is trailing,” but the longer windows tell a more nuanced story. SNAP stock has actually been the worst performer year to date and over five years, even though it’s holding up better than Pinterest in today’s session.

Stock Today YTD 1-Year 5-Year PINS -6% -28% -42% -68% META -1% -7% -4% +96% SNAP -2% -30% -35% -89% Meta Platforms is the clear quality name in the group, with operating leverage from its “year of efficiency.” The platform reports Q1 2026 revenue growth of 33% and multiple growth surfaces from Reels to WhatsApp to its Llama AI stack.

Snap’s relative resilience today is partly mechanical. After years of underperformance, the bear case is largely priced in, leaving less room for fresh sentiment damage. Pinterest, by contrast, still has investors actively repricing the franchise.

The Bull Case for Pinterest Hasn’t Disappeared It’s worth noting that Pinterest remains a viable franchise. The platform still posted 619 million global monthly active users, up 12% year over year, and processed more than 80 billion monthly searches with strong commercial intent.

Pinterest’s free cash flow remains healthy at $380 million in Q4 2025, and the company repurchased $927 million of stock for the full year. CEO Bill Ready stated the company is “laser-focused on execution and transforming our sales and go-to-market efforts so monetization better reflects the valuable commercial intent we see on Pinterest.”

Pinterest’s international monetization is also accelerating, with Europe revenue up 25% and Rest of World up 64% last quarter. Those are the data points that the bulls will want to keep an eye on.

What to Watch Prudent investors should track whether Pinterest stock can stabilize near current levels, or whether today’s break extends into a deeper retest of the $15.18 level seen after the Q4 2025 report. A close back above $20 would help reset the technical tone.

The next real information catalyst is management’s commentary on user growth, AI search competitive impact, and advertiser concentration. Until those data points improve, expect Pinterest to remain the high-beta name in any social media drawdown.

SANTA MONICA, Calif.--(BUSINESS WIRE)--Snap Inc. (NYSE: SNAP) announced today that Luke Wood, former President of Beats by Dr. Dre and Vice President at Apple Inc., has been appointed to the company’s board of directors, effective as of May 20, 2026.

“We are excited to welcome Luke to Snap’s board,” said Evan Spiegel, co-founder and Chief Executive Officer of Snap Inc. “Luke has helped build and scale iconic products and brands at the intersection of technology and culture, and we look forward to benefiting from his insights.”

“Luke’s creative and operating experience will bring a valuable perspective to our board,” said Michael Lynton, Chairperson of the board of directors of Snap Inc. “We are pleased to welcome him and look forward to his contributions in the years ahead.”

“I’m thrilled to join Snap’s board at such an exciting time for the company,” said Wood. “Snap has a strong track record of innovation, and I look forward to working with Evan, Michael, and the other directors.”

Mr. Wood, age 57, is a co-founder and has served as Chief Executive Officer of Violet St Holdings, LLC since September 2022. From August 2014 to April 2020, Mr. Wood served as President of Beats by Dr. Dre and as a Vice President at Apple Inc. following Apple’s acquisition of Beats. Prior to that, he served as President of Beats by Dr. Dre from February 2011 to August 2014. Earlier in his career, Mr. Wood held various leadership positions at Interscope Geffen A&M and imprint DGC Records. Mr. Wood currently serves as a member of the board of directors of Fender Musical Instruments Corp. He holds a B.A. in American Studies from Wesleyan University.

About Snap Inc.

Snap Inc. is a technology company. We believe the camera presents the greatest opportunity to improve the way people live and communicate. We contribute to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together. For more information, visit snap.com.

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Block CEO Jack Dorsey, Salesforce CEO Marc Benioff, IBM CEO Arvind Krishna (left to right). Joe Raedle/Getty Images, AP Photo/Markus Schreiber, Sajjad Hussain/Getty Images Worries about AI one day replacing human workers have intensified recently — and as it turns out, that future may be here.

A number of companies have recently announced staff cuts and cited AI efficiencies as a major rationale.

A March report from career transition firm Challenger, Gray, and Christmas found that, so far this year, AI has been cited in 8% of job-cut plans.

Amid this rash of layoffs, some have asked whether AI is replacing so many roles once held by humans or whether some degree of "AI washing" is at work. OpenAI's Sam Altman said some companies are blaming AI for layoffs that would've happened regardless.

An MIT study released last year said that 95% of corporate AI investments have generated "zero return" so far.

As some companies replace human workers with the technology, they may end up hiring more people because of it — or rehiring at least some of the roles they eliminated. A 2025 survey conducted by consulting firm Robert Half found that 29% of 2,000 hiring managers said they reopened positions that had been previously got rid of after implementing AI.

Here's a list of companies that have done AI-related layoffs:

Angi

Angi said it was cutting 350 jobs in January. Bloomberg/Getty Images Angi, the popular contractor listing site previously known as Angie's List, said in January that it was cutting roughly 350 jobs in part because of "AI-driven efficiency improvements."

The company added that the cuts were part of a plan "to reduce operating expenses and optimize the organizational structure in support of long-term growth."

Atlassian

Atlassian CEO Mike Cannon-Brookes. Brendan McDermid/Reuters Atlassian announced cuts of 1,600 jobs in March, totaling about 10% of its global workforce. The move comes as the Australian-American software company says it is restructuring to focus on AI and enterprise growth.

In a filing with the US Securities and Exchange Commission, the company said the reduction was part of a broader effort to reposition the business for what CEO Mike Cannon-Brookes described as the "AI era."

"It would be disingenuous to pretend AI doesn't change the mix of skills we need or the number of roles required in certain areas. It does," Cannon-Brookes wrote in a message to employees.

On the "20VC" podcast in October last year, prior to the cuts, Cannon-Brookes said he planned to have more engineers at the company in five years.

"They will be more efficient, but technology creation is not output-bound," Cannon-Brookes said.

Block

Block CEO Jack Dorsey. Joe Raedle/Getty Images In a post on X in February, billionaire and Block CEO Jack Dorsey said he was slashing nearly half of Block's workforce, cutting its over 10,000-person staff to under 6,000. The move came as he said business was strong and profits were growing, but a new way of working was emerging.

"We're already seeing that the intelligence tools we're creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company," Dorsey said in his memo on X.

In the company's earnings call following the memo, Dorsey said that more companies will follow suit by using AI to drive efficiency gains. Block is already ahead of the trend that "all companies will eventually" adopt, the CEO said.

Cisco

Cisco CEO Chuck Robbins announced on May 13 that the company would lay off about 4,000 employees. Kent NISHIMURA / AFP via Getty Images Cisco said on May 13 that it would cut "fewer than 4,000 jobs" as the networking company reorganizes around artificial intelligence, according to a memo CEO Chuck Robbins sent to employees.

"The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest," Robbins said in the memo. "This means making hard decisions — about where we invest, how we're organized, and how our cost structure reflects the opportunity in front of us."

The layoffs, which account for less than 5% of Cisco's workforce, were announced alongside a stronger-than-expected third-quarter earnings report in which the company raised its revenue outlook amid surging demand for AI infrastructure.

In the memo, Robbins said Cisco is redirecting investments toward areas "where demand and long-term value creation are strongest," including silicon, optics, security, and employees' use of AI across the company.

Cloudflare

Cloudflare CEO Matthew Prince. IMF Cloudflare announced on May 7 that it will be slashing more than 1,100 roles as it reorganizes for the "agentic AI era." The cybersecurity company said in a memo that its AI usage has increased by over 600% in the last three months, and employees across departments run thousands of agent sessions each day.

"That means we have to be intentional in how we architect our company for the agentic AI era in order to supercharge the value we deliver to our customers," the company said in the memo to staff.

Cloudflare CEO Matthew Prince responded to a critical post on X, saying that "very few engineers or customer-facing sales people impacted by our layoff."

He wrote that the company will continue to hire "like crazy in those roles," as it did as a startup. Cloudflare employed 5,483 people as of the end of March, meaning the cuts affected about 20% of its workforce.

Coinbase

Coinbase CEO Brian Armstrong. Bloomberg/Getty Coinbase CEO Brian Armstrong announced that the company will be slashing 14% of its workforce, or about 700 workers.

In a post on X on May 5, Armstrong shared an email that he said he sent to workers earlier that day. In the post, he cited two factors: a volatile market and AI changing the way people work.

"Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," Armstrong said, adding that, "the pace of what's possible with a small, focused team has changed dramatically."

Armstrong said the company isn't just reducing head count and cutting costs, but "fundamentally changing" the way it operates. The CEO said Coinbase is rebuilding itself "as an intelligence, with humans around the edge aligning it."

He shared plans to concentrate the workforce around AI-native pods that will manage fleets of agents. Armstrong said the company will also experiment with "one person teams" of engineers, designers, and product managers.

Crypto.com

Kris Marszalek announced 12% cuts at Crypto.com on March 19. Marco Bello/Reuters Crypto.com announced on March 19 that it would cut 12% of its staff. The CEO, Kris Marszalek, wrote in a post on X that those impacted were in "roles that do not adapt in our new world."

"We are joining the list of companies integrating enterprise-wide AI," Marszalek wrote on X. "Companies that move immediately and pair the best AI tools with top-performers will achieve a level of scale and precision that was previously impossible. This is where we must go."

The company previously cut jobs in 2022 during a cryptocurrency slump and another 20% of its workforce in 2023, following the collapse of FTX.

GitLab

GitLab said it is cutting 350 employees. Joan Cros/NurPhoto via Getty Images On a June 2 earnings call, GitLab said it is cutting 350 employees, or about 14% of its workforce, as part of an overhaul it announced last month.

The coding software company, which had 2,580 employees as of January, said in May that it was restructuring to meet the "agentic era." GitLab added that it wanted to remove up to three layers of management and reinvest savings from the restructuring into internal AI resources.

The company said it also expects to exit 22 countries and reduce its team members' geographic footprint by about 37%, opting for customers in those regions to be served by partners.

In June 2025, GitLab's chief financial officer, Brian Robins, said that AI coding has been good for its business, as customers added more employees to their subscriptions and produced more code, which GitLab's services help manage.

HP

HP CEO Enrique Lores. HP Inc. HP said it's reducing the size of its corporate workforce due to AI initiatives. In an earnings report last November, the company said it plans to cut between 4,000 and 6,000 jobs by the end of 2028, estimating the changes would save around $1 billion.

HP's earnings presentation at the time said part of its strategy was to cut costs through "workforce reductions, platform simplification, programs consolidation, and productivity measures" and to increase customer satisfaction, innovation, and productivity with "artificial intelligence adoption and enablement."

IBM

IBM's CEO has said the company has replaced hundreds of employees with AI. Sajjad Hussain/Getty Images Arvind Krishna, CEO of IBM, told The Wall Street Journal last year that it had replaced hundreds of human resources employees with AI.

More recently, the company announced last November that it would cut thousands of workers in the fourth quarter of 2025, affecting a "single-digit percentage of its global workforce." Its CEO, Arvind Krishna, said the company is shifting priorities to hire more people around AI and quantum. He also said the company plans to increase hiring among recent college graduates over the next year.

Krishna has also said that AI adoption has led the company to hire more employees in programming and sales.

In 2023, Krishna told Bloomberg that IBM had halted or slowed hiring for back-office roles, like in human resources, that could be replaced by AI.

"I could easily see 30% of that getting replaced by AI and automation over a five-year period," he told the outlet at the time.

Salesforce

Salesforce CEO Marc Benioff. AP Photo/Markus Schreiber Salesforce cut fewer than 1,000 workers in February, including employees from marketing, product management, data analytics, and its Agentforce AI product.

In an episode of "The Logan Bartlett Show" released last August, Salesforce CEO Marc Benioff said the company was using AI agents in its customer support division to replace humans and handle more sales leads.

"I was able to rebalance my head count on my support," he said in the interview. "I've reduced it from 9,000 heads to about 5,000 because I need less heads."

A Salesforce spokesperson previously told Business Insider that Benioff was referring to an organizational transformation that took place over several months to reshape its customer support function.

After deploying Agentforce, the company no longer needed to "actively backfill support engineer roles," the spokesperson said, adding that it successfully redeployed hundreds of employees into other areas of the company, like professional services, sales, and customer success.

Snap

Evan Spiegel is the CEO of Snap. Bloomberg/Getty Images In a memo to employees released in a regulatory filing on April 15, Snap CEO Evan Spiegel said the company would cut 1,000 employees, or about 16% of its global workforce. The CEO cited "rapid advancements" in AI and "small squads" using it to become more efficient.

Spiegel said Snap would also close more than 300 open roles, and that US-based employees would receive four months of severance, healthcare coverage, and equity vesting. In an investor update included in the company's filing, it said the layoffs would result in roughly $500 million in annualized cost savings.

Standard Chartered

Bill Winters is the CEO of Standard Chartered. Bloomberg/Getty Images Global bank Standard Chartered announced plans on May 19 to slash 15% of its staff by 2030.

CEO Bill Winters said in a media briefing in Hong Kong that the move isn't a cost-cutting effort, but rather, "replacing, in some cases, lower-value human capital with the financial capital and the investment capital that we are putting in," Bloomberg reported.

"We don't have job losses, but we do have job role reductions in favor of the machines, and that will accelerate as we go forward into AI," he said at the briefing.

The company added in a statement: "We are combining the best human talent with AI, investing to support our people into higher-value roles."

Wisetech

Wisetech is cutting 2,000 jobs. Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images Zubin Appoo, the CEO of Wisetech, said the logistics software maker is cutting 2,000 jobs, or 30% of its staff, because of AI-led efficiency.

In a conference call on February 25, Appoo said that AI enables greater productivity in less time and with fewer employees. The Sydney-based company employed about 7,000 people, according to an annual report released in October.

"I am prepared to say this clearly: the era of manually writing code as the core act of engineering is over," Appoo said. The technology is "unlocking levels of efficiency gains across WiseTech that were previously out of reach."

In some parts of the workforce, such as customer service, one in two workers will disappear, he added.

Wix

Wix CEO Avishai Abrahami shared the layoff memo he sent to staff on X. Wix; BI Wix announced it would be cutting 20% of its workforce, citing currency challenges and AI. In a post on X on May 28, Wix CEO Avishai Abrahami shared the layoff memo he sent to the team, saying that the first reason for the cuts was that the "exchange rate between the Shekel and the US dollar has shifted significantly."

He also cited "the fast evolution of AI capabilities."

"This is not just about adopting new tools - it is about rewiring how companies are built, how they think, how they manage and how they operate," Abrahami wrote in the post.

Abrahami said the company will operate leaner and flatter, and will continue to take steps toward an AI-native way of working. The company previously employed just under 5,300 workers, meaning roughly 1,000 roles will be affected.

Correction: May 19, 2026 — An earlier version of this story included Klarna. The company says it has not done AI-related layoffs.

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It has been about a month since the last earnings report for Snap (SNAP - Free Report) . Shares have added about 1.5% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Snap due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for Snap Inc. before we dive into how investors and analysts have reacted as of late.

SNAP's Q1 Revenues Climb Y/Y, Adjusted EBITDA More Than DoublesSnap reported a first-quarter 2026 net loss of 5 cents per share. Adjusted earnings came in at 10 cents per share compared with the Zacks Consensus Estimate of 9 cents.

Revenues rose 12% year over year to $1.529 billion and beat the Zacks Consensus Estimate by 0.55%. The figure came in at the top end of the company's prior guidance range of $1.5-$1.53 billion.

Adjusted EBITDA more than doubled, climbing 115% year over year to $233 million, materially favorable to the company's prior guidance.

Snap returned to growth in daily active users, accelerated revenue growth, expanded margins and generated strong free cash flow in the reported quarter.

Top-Line Details of SNAPRevenues from North America (56% of total revenues) rose 2% year over year to $851 million. Revenues from Europe (21% of revenues) jumped 45% to $324 million. Revenues from the Rest of World (ROW) (23% of revenues) were $354 million, up 15% year over year.

The average revenue per user (ARPU) increased 7% year over year to $3.17. North America's ARPU climbed 10% to $9.23, while Europe's ARPU surged 48% to $3.34. ARPU for ROW rose 3% year over year to $1.20.

Advertising revenues reached $1.24 billion in the quarter, up 3% year over year, driven primarily by growth in direct response advertising. The performance was partially offset by continued headwinds in the North America large-client advertising business and an estimated $20-$25 million impact from geopolitical headwinds in the Middle East during March. Global impression volume increased approximately 17% year over year, while total eCPMs declined approximately 12% year over year.

Other Revenue, which includes Snapchat+ subscriptions, Memories Storage and the newly introduced Lens+ tier, increased 87% year over year to $285 million in the first quarter, reaching an annualized run rate of approximately $1.14 billion. Memories Storage was a key driver of acceleration, with a larger-than-anticipated share of new subscribers acquired through Memories choosing higher-ARPU subscription offerings, including Snapchat+.

Snap's Q1 User Engagement MetricsSNAP's global community reached 483 million daily active users (DAU) in the first quarter, up 5% year over year, marking a return to DAU growth following a sequential decline in the prior quarter. Snap added nine million DAU on a quarter-over-quarter basis.

North America's DAU was 92 million, which decreased 7% year over year. Europe's DAU was 97 million, down 2% year over year. The ROW's DAU was 294 million at the end of the reported quarter, which increased 12% year over year. Snap reached 956 million monthly active users in the first quarter, representing 5% year-over-year growth.

The number of Spotlight posters in the United States grew nearly 74% year over year, while global Spotlight posters increased more than 61% year over year. Spotlight shares and reposts grew 62% year over year globally and 124% year over year in the United States. Total time spent watching Spotlight increased 11% year over year. Games on Snapchat reached 255 million monthly active users.

Snap's augmented reality ecosystem also expanded, with more than 75% of Snapchatters engaging with AR every day on average and Lenses being used in the Snapchat camera 9 billion times per day on average. More than 400,000 Lenses were submitted in the quarter, up over 150% year over year, driven primarily by the adoption of new creation tools such as Easy Lens. The Snap Map reached over 450 million global monthly active users.

Snap's Advertising Details in Q1Sponsored Snaps drove strong performance gains, with per-impression click-through rates increasing 226% and 7-day conversion volume rising 59% in the first quarter. Nearly 75% of U.S. Chat DAU viewed ads in Chat, and roughly one-third of the Sponsored Snaps reach was unique to Chat. The company launched AI Sponsored Snaps, a new format that enables brands to engage Snapchatters through interactive, AI-powered conversations in Chat.

Promoted Places campaigns generated more than 20 million incremental visits and double-digit growth in foot traffic, with Carl's Jr. achieving an 18% lift in incremental visits.

Dynamic Product Ads revenues grew more than 30% year over year, while adoption among small and medium-sized customers more than doubled. App goal-based bidding revenues grew 27% year over year, and App Purchases revenues grew 87% year over year. Across Pixel Purchase campaigns, 7-0 purchases generated per dollar of revenues grew more than 23% year over year. Nearly 70% of advertising spend now uses at least one of Snap's AI-powered automation solutions, including Smart Audience, Smart Budget or Smart Placement.

Small and medium-sized businesses (SMBs) grew spending by more than 30% year over year in North America and accounted for over 30% of global ad revenues, remaining the largest ad-growth driver for the seventh consecutive quarter. North America upfront commitments for 2026 grew approximately 10% year over year. Large advertisers in North America remained a headwind, but Snap noted early signs of improvement.

Snap's Operating DetailsCost of revenues increased 4% year over year to $665 million. In the first quarter, research and development expenses rose 13% to $478 million, sales and marketing expenses decreased 7% to $239 million, and general and administrative expenses declined 6% to $221 million.

Adjusted EBITDA was $233 million, up 115% from the year-ago quarter. Adjusted EBITDA margin expanded approximately 7 percentage points to 15%. Adjusted Gross Margin improved 3 percentage points year over year to 57%.

Operating loss narrowed to $74 million from $194 million in the prior year. Net loss was $89 million compared with a net loss of $140 million in the prior-year quarter.

Significant Q1 2026 DevelopmentsSnap announced that it had amicably ended its previously announced relationship with Perplexity in the first quarter, and its forward guidance assumes no contribution from this partnership. The company also disclosed that, in April, it took action to make Snap a faster, more focused and more efficient company, with the restructuring expected to reduce its annualized cost structure by more than $500 million in the second half of 2026.

Balance Sheet and Cash FlowAs of March 31, 2026, cash, cash equivalents and marketable securities were approximately $2.8 billion compared with approximately $2.9 billion as of Dec. 31, 2025.

Operating cash flow was $327 million compared with $270 million in the prior quarter and $152 million in the year-ago quarter. Free cash flow was $286 million compared with $206 million in the prior quarter and $114 million in the year-ago quarter.

Snap completed $350 million in share repurchases during the first quarter, with $400 million remaining under its previously authorized share repurchase program at quarter-end.

GuidanceSnap expects second-quarter 2026 revenues to be in the range of $1.52-$1.55 billion. The guidance assumes no contribution from Perplexity and that the operating environment in the Middle East region remains consistent with the magnitude of headwinds experienced in March and April. The company projects adjusted EBITDA between $175 million and $200 million for the second quarter.

Snap also expects to incur pre-tax restructuring charges of $95-$130 million related to its recent restructuring, with the majority to be incurred in the second quarter. Infrastructure costs are expected to grow modestly year over year in the second quarter, while All Other Cost of Revenue is expected to remain at 16-17% of revenues.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates flatlined during the past month.

The consensus estimate has shifted -11.91% due to these changes.

VGM ScoresAt this time, Snap has a strong Growth Score of A, a score with the same score on the momentum front. However, the stock has a score of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Snap has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerSnap belongs to the Zacks Internet - Software industry. Another stock from the same industry, Meta Platforms (META - Free Report) , has gained 1.7% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

Meta Platforms reported revenues of $56.31 billion in the last reported quarter, representing a year-over-year change of +33.1%. EPS of $7.31 for the same period compares with $6.43 a year ago.

Meta Platforms is expected to post earnings of $7.11 per share for the current quarter, representing a year-over-year change of -0.4%. Over the last 30 days, the Zacks Consensus Estimate has changed -1.2%.

Meta Platforms has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.

Snap is rated a buy with a 12-month price target of $7.20, reflecting discounted valuation versus improving fundamentals. Q1 saw revenue up 12% YoY, adj. EBITDA more than doubles, and FCF nearly triples, driven by cost discipline and direct revenue growth. Direct revenue, now at a $1 billion annualized run rate with 25M Snap+ subscribers, diversifies SNAP's business and supports margin expansion.

We’ve written a lot about how AI is coming for your job. Now AI is coming for your music, flooding streaming platforms with “AI music slop.” But instead of curbing it, Spotify’s CEO Alex Norström is doubling down and embracing AI-generated music—claiming it offers artists protection from piracy, and music-lovers more freedom to listen to and create more of the kind of music they want.

Last week, Spotify and Universal Music Group (UMG) announced landmark licensing agreements, paving the way for Spotify to launch a new tool for premium subscribers. The tool enables them to create AI-generated song covers and remixes of their favorite songs from participating artists and songwriters on the platform.

The deal has prompted two very different reactions. On Wall Street, the move sent shares of the stock up 16% last week, per the Financial Times. (On Tuesday, shares of Spotify Technology SA (NYSE: SPOT) were up nearly 2% in midday trading at the time of this writing.)

However, the move also prompted swift backlash from recording artists and music fans alike.

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“I quit Spotify after many many years because of their attempts to integrate AI into music,” one Reddit user responded. “At this rate, Spotify won’t just be a streaming platform anymore,” another quipped.

Norström has defended the move as a “rewarding outcome for artists and songwriters” that will compensate musicians, arguing Spotify is offering a “controlled” alternative for musicians to make money, instead of having their work ripped off. Critics, however, are wary.

“I think if you are going to have AI music, it’s clearly better that you have AI music that is rooted in consent,” composer Ed Newton-Rex, who campaigns to protect creators’ copyrights, told The Guardian. “[However] the big question will be whether fans can share remixes they make for other people to listen to. If they can, I think you get into dangerous territory. These AI remixes will flood Spotify and drown out other songs, which will in turn put pressure on more musicians to sign up to the AI remix feature.”

Explore TopicsAInewsSpotify

ToplineSpotify and Netflix struck a deal reportedly worth up to $100 million for exclusive rights to the video version of “On Purpose,” a self-help podcast hosted by wellness influencer Jay Shetty, what could mark a rare nine-figure podcasting contract that is one of Spotify’s biggest since it first signed with Joe Rogan in 2020.

Jay Shetty hosts "On Purpose," which has more than 5 million subscribers on YouTube. (Photo by Daniel Boczarski/Getty Images for Jay Shetty)

Getty Images for Jay Shetty

Key FactsShetty’s deal is a multiyear agreement, and unnamed sources told Bloomberg and Variety it is worth as much as $100 million, though neither Netflix nor Spotify have commented on its value.

Under the agreement, video episodes of “On Purpose” will move to Netflix and Spotify on July 13, while older episodes and clips promoting new episodes will still appear on YouTube, Bloomberg reported.

The agreement is one of the first major deals struck by Netflix and Spotify since the streaming services announced a joint video podcast venture last year, through which Netflix began airing episodes of some of Spotify’s biggest video podcasts.

Shetty’s deal with Netflix and Spotify comes as his deal with iHeartMedia, which signed Shetty in 2023 and handled ad sales for “On Purpose,” lapses.

Shetty, a 38-year-old author, wellness influencer and former monk, launched “On Purpose” in 2019 and has since hosted guests including former First Lady Michelle Obama, actress Selena Gomez and billionaire Kim Kardashian.

Where Does Shetty’s Podcasting Deal Rank Among The Biggest?Shetty is one of a few podcasters to nab a potentially nine-figure exclusivity deal with a major streaming service. Rogan, the world’s most popular podcaster, first signed with Spotify in 2020 in a deal that was initially said to be worth more than $100 million, though reports later said it was actually worth more than $200 million. In 2024, Rogan renewed his deal with Spotify in a $250 million agreement. In 2024, SiriusXM struck a $125 million deal with “Call Her Daddy” host Alex Cooper and a $100 million deal with “SmartLess,” hosted by actors Jason Bateman, Will Arnett and Sean Hayes. NFL stars Jason and Travis Kelce inked a $100 million deal for their “New Heights” podcast with Amazon’s Wondery, also in 2024.

What Do We Know About Netflix And Spotify’s Video Podcast Deal?The two major streaming services announced a partnership in October to bring more than a dozen Spotify-produced podcasts to Netflix, including sports show “The Bill Simmons Podcast” and true crime podcast “Conspiracy Theories.” Under the terms of the partnership, the shows included in the deal cannot air in their entirety on YouTube, the New York Times reported. The partnership follows the proliferation of video podcasts, which have grown in popularity in recent years as video clips help shows gain traction on platforms like TikTok and YouTube. A survey published by Edison Research in 2025 found about 77% of people who started listening to podcasts within the preceding year actively watch video with their preferred podcast, compared to 75% of those who listen audio-only. Spotify and YouTube are also jockeying to dominate the podcasting space, with Edison Research reporting last year YouTube has a small edge over Spotify among Gen Z audiences.

Key BackgroundShetty, a London-born influencer, is best known for his podcast, on which he regularly interviews celebrities and other public figures, often about mental health and wellness. He has published multiple books, including “Think Like a Monk” in 2020. Shetty has said he lived as a monk for three years, traveling between India, the United Kingdom and elsewhere in Europe. Shetty has faced some scrutiny over the veracity of his background, including an article in The Guardian in 2024 that claimed Shetty has been inconsistent when recalling his years as a monk and suggested he exaggerated how much time he spent in India. Shetty responded to the claims in an interview with the New York Times, saying he has “always been open and honest about that time in my life,” adding, “It was three years. It was traveling. I was learning deep meditation in India and then traveling to Europe to share and teach.”

Further ReadingThe Wellness Guru Jay Shetty Has Raised Some Doubts. Including His Own. (The New York Times)

Netflix Jumps Into Podcasts With Spotify Deal (The New York Times)