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October 26, 2022, 7:15 PM
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| Meta - Investor Relations: |
Meta Q3: revenue down 4% YoY to $27.7B, net income down 52% YoY to $4.4B, family daily active people up 4% YoY to 2.93B, headcount up 28% YoY; stock drops 19%+ — MENLO PARK, Calif. - October 26, 2022 - Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2022.
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| Nelson Wang / CoinDesk: |
Meta reports Reality Labs had a $3.67B loss for Q3 2022 on $285M in revenue vs. $406M est. and says the unit's operating loss will grow “significantly” in 2023 — Meta's revenues for the division came in at $285 million, down from $452 million in the second quarter.
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Blockworks, TechCrunch, The Block, Insider, TheStreet, and MarketScreener
Tweets: @cixliv, @sal19, @cixliv, @cixliv, @cixliv, @cixliv, @marionawfal, @loudmouthjulia, @sadlyitsbradley, @jason, @munster_gene, @alistairmbarr, @tomwarren, @rsg, @richlightshed, @jerrycap, @firstadopter, @gavinsbaker, @nickstatt, @firstadopter, @lanceulanoff, @jerrycap, @pkafka, @alexeheath, @stevekovach, @tonyromm, and @rustybrick
| Nick Statt / Protocol: |
Meta plans to launch the next generation of its consumer Quest headset in 2023 — A follow-up to the Quest 2 virtual reality headset is arriving next year, Meta said in its most recent earnings announcement. The device will be a consumer-grade headset unlike the recently released Quest Pro …
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Road to VR, TechCrunch, Laptop Mag, IGN, and IGN
Tweets: @epro, @sadlyitsbradley, @nickstatt, @nickstatt, @jank0, and @davezatz
| Edward Ludlow / Bloomberg: |
Elon Musk changes his Twitter bio to Chief Twit and visits the company's San Francisco office; memo to employees: “you'll all hear directly from him on Friday” — Elon Musk made his presence felt at Twitter's San Francisco headquarters Wednesday, posting a video clip of himself walking …
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| Berber Jin / Wall Street Journal: |
Sources: a16z's flagship crypto fund is down ~40% in H1 2022, above the 10%-20% losses at rival funds; a16z dramatically slowed its crypto investments in 2022 — Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’ — Crypto Crashed, Coinbase's Stock Followed: What Went Wrong
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The Block, Silicon Valley Business …, Ethereum World News, CryptoPotato, Crunchbase News, Cointelegraph, Blockworks, Watcher Guru, Protos, CoinDesk, Protocol, and Decrypt
Tweets: @cararlombardo, @wublockchain, @berber_jin1, @paleofuture, @dhm, @eliotwb, @iankar_, @mayazi, @mayazi, @cavandy, @riddle245, @carnage4life, @somospostpc, @grady_booch, and @0xcrypton
| Joe Rossignol / MacRumors: |
Following complaints from prominent developers, Apple says it has “paused ads related to gambling and a few other categories on App Store product pages” — Apple today rolled out new ad placements in the App Store on the iPhone, allowing developers to advertise their apps in more places …
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AppleInsider, 9to5Mac, AppleInsider, BGR, Cult of Mac, FOSS Patents, Macworld, iPhone Hacks, XDA Developers, KnowTechie, CNBC, iPhone in Canada Blog, Financial Times, and Philip Elmer‑DeWitt
Tweets: @simonbs, @marcoarment, @basicappleguy, @viticci, @cabel, @hot_doggin_jon, @hot_doggin_jon, @wolfiechristl, @gruber, @simonbs, @stuntpants, @stuntpants, @cabel, @cabel, @notspamipromise, @chrisfnicholson, @simonbs, @fromedome, @jasoneccles, @stroughtonsmith, @eshumarneedi, @alexeheath, @apollozac, @tapbot_paul, @fahim_al_mahmud, @wolfiechristl, @gte, @cabel, @uwukko, @krausefx, @mr_james_c, @rauschma, @jesslynnrose, @johnbalestrieri, @rsgnl, @antumbral, @uzmabarlaskar, @sub8u, @pt, @thomasfuchs, @snazzyq, @radiantav, @reinholdkesler, @stuntpants, @benedictevans, @tariqkrim, @gergelyorosz, @jamesthomson, @asallen, @seyitaylor, and @darth
| Kirsten Korosec / TechCrunch: |
Sources: autonomous vehicle startup Argo AI, which raised billions from carmakers, is shutting down and leaving parts and some staff to top backers Ford and VW — Argo AI, an autonomous vehicle startup that burst on the scene in 2017 stacked with a $1 billion investment, is shutting down …
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Engadget, Forbes, Financial Times, Reuters, The Verge, SlashGear, and The Last Driver License Holder
Tweets: @jswatz, @jason, @grady_booch, @tslafanmtl, @garymarcus, and @john__rosevear
| Jon Victor / The Information: |
Andy Rubin incorporated home security monitoring software startup Simple Things in July 2020 and appears to have hired staff from his defunct startup Essential — Andy Rubin is planning his next act. — The former Google executive, who received a $90 million severance package following … | Wayne Ma / The Information: |
Source: Apple is working on an iPad with a 16-inch screen, the largest iPad yet and in line with the company's largest laptop, and is planning a Q4 2023 release — Apple is developing its largest iPad yet, a model with a 16-inch screen that it hopes to release in the fourth quarter of next year …
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MacRumors, CNET, Android Authority, MobileSyrup, SlashGear, Macworld, iPhone in Canada Blog, Redmond Pie, 9to5Mac, Pocket-lint, BGR, Cult of Mac, Digital Trends, AppleInsider, iThinkDifferent, and iMore
Tweets: @parismartineau, @jessicalessin, @rsgnl, @stroughtonsmith, @anm, @mcwm, @samifathi_, and @bengeskin
| Reuters: |
Sources: the US DOJ launched a criminal probe into Tesla in 2021 that is still underway, following over a dozen crashes, some fatal, with Autopilot activated — Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company's electric vehicles can drive themselves …
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Bloomberg, Insider, The Verge, Semafor, TechCrunch, SlashGear, and Electrek
Tweets: @karlbode, @reuters, @filippie509, @karlbode, and @mccarthyryanj
| Tom Warren / The Verge: |
Microsoft says Xbox Game Pass is profitable and accounts for ~15% of Xbox's content and services revenue, after sharing PC Game Pass subscriptions rose 159% YoY — Microsoft Gaming CEO Phil Spencer has revealed that the company's Xbox Game Pass subscription service is already profitable.
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The Verge, Engadget, 9to5Google, Windows Central, TheGamer, MobileSyrup, Sports Business Journal, Android Headlines, IGN, Wccftech, The GameDiscoverCo newsletter, Pure Xbox, Game Rant, and OnMSFT.com
Tweets: @tomwarren and @vicious696
| Lauren Hirsch / New York Times: |
A profile of Delaware Chancery Court judge Kathaleen McCormick, who is overseeing the Elon Musk-Twitter lawsuit and set an October 28 deadline to close the deal — Kathaleen St. J. McCormick, the chief judge of Delaware's Chancery Court, gave Mr. Musk until Friday to acquire Twitter.| Kevin Purdy / Ars Technica: |
iPad Pro (2022) review: M2 runs GPU-intensive tasks well and Pencil hover is nice, but the upgrade is incremental and the front camera remains on the wrong side — This year's iPad Pro has even more power. It's nice, but a true upgrade beckons. — If you're an Apple Pencil devotee …
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MacRumors, Laptop Mag, Cult of Mac, TechRepublic, iPhone in Canada Blog, and AppleInsider News. Tweets: @arstechnica
| Aaron Tilley / Wall Street Journal: |
A look at HoloLens' development, as Microsoft ceded its early lead in AR to Meta and others; one executive blames a lack of money and people behind the effort — Problems plagued development of its HoloLens augmented reality headset; ‘we had the opportunity to own this market’
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Insider, Thurrott, and MarketWatch
Tweets: @mims, @jeffhorwitz, @joepwilliams31, @smashdawg, @ericbellmanwsj, @aatilley, and @avibarzeev
| Bloomberg: |
Seagate misses Q1 estimates with $2.04B revenue and plans to cut ~3,000 jobs, saying big buyers are reducing orders; the stock drops 6%+ and is down 50%+ YTD — Seagate Technology Holdings Plc, the biggest maker of computer hard drives, said it's eliminating about 3,000 jobs and that big buyers … | Ashley Capoot / CNBC: |
Mobileye pops 37.95% on its first day of trading after spinning out of Intel, giving the company a $23B market cap; Intel acquired Mobileye for $15.3B in 2017 — - Shares of self-driving car technology company Mobileye climbed in their first day of trading on Wednesday after Intel sold stock to the public.| Han Chen / Axios: |
Report: US state and local governments kept buying Chinese telecom equipment despite a federal-level ban; only five states have rules to limit such purchases — Despite federal efforts to block Chinese telecom equipment from U.S. supply chains, state and local governments across …
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Nextgov and Center for Security …
| Richard Vanderford / Wall Street Journal: |
Google agrees to improve its compliance program for legal demands in a settlement with the US DOJ, which said Google lost data sought by investigators in 2016 — The tech company will be monitored by a compliance professional after the Justice Department said Google lost data sought in a U.S. investigation
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U.S. Department of Justice, Decrypt, Law Street Media, The Register, and Blockworks
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