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Techmeme
August 4, 2023, 1:00 PM
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Top News

Apple:
Apple reports Q3 revenue down 1.4% YoY to $81.8B, declining for a third quarter in a row but largely in line with estimates, and net income up 2.3% to $19.9B  —  Services revenue reaches new all-time high Installed base of active devices sets all-time record
Stephen Nellis / Reuters:
Apple Q3: revenue grew 7.9% YoY to $15.8B in China, with iPhone up “double digits” and a quarterly Services record, but fell 5.6% YoY to $35.4B in the Americas
Aaron Tilley / Wall Street Journal:
Apple Q3 revenue: iPhone down 2.4% YoY to $39.7B, Mac down 7.3% YoY to $6.8B, iPad down 19.8% to $5.8B, and Wearables, Home, and Accessories up 2.5% to $8.3B
Todd Spangler / Variety:
Apple reports Q3 revenue for its Services segment, which includes Apple TV+ and Apple Music, grew 8.2% YoY to a record $21.2B, driven by 1B+ paid subscriptions
Manish Singh / TechCrunch:
India delays import limitations on laptops, tablets, and servers, giving companies a “transition period” of at least one month to obtain licenses  —  India is delaying the implementation of its import limitations on laptops, tablets, and servers, a day after the unexpected …
Sankalp Phartiyal / Bloomberg:
Apple, Samsung, and others freeze imports of laptops and tablets to India; sources say India's sudden import license rules caught the industry by surprise  —  - India surprised industry with new import license requirement  — Modi government seeks to promote domestic manufacturing
Martin Coulter / Reuters:
To comply with EU DSA, TikTok will let users turn off personalized recommendations in the For You feed, remove targeted ads for those aged 13 to 17, and more  —  Chinese-owned social media platform TikTok has announced a raft of new features for European users aimed at improving compliance with incoming European Union regulations.
Emma Roth / The Verge:
Coinbase asks a judge to dismiss the SEC's lawsuit against it, arguing that the case falls outside the agency's authority as Coinbase doesn't trade securities  —  Coinbase is asking a judge to dismiss the Securities and Exchange Commission's lawsuit against it.
Yogita Khatri / The Block:
Revolut plans to start closing its US cryptocurrency services on September 2, citing regulatory uncertainty, impacting less than 1% of its crypto users globally  —  - Revolut is closing its cryptocurrency platform in the U.S., citing regulatory uncertainty.
Amazon:
Amazon reports Q2 revenue up 11% YoY to $134.4B, a $6.7B net income, vs. a $2B net loss in Q2 2022, AWS segment sales up 12% YoY to $22.1B; AMZN jumps 9%+  —  Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2023.
Annie Palmer / CNBC:
Amazon Q2: ad revenue up 22% YoY to $10.68B, vs. $10.4B est., subscription revenue up 14% YoY to $9.89B, and North America segment sales up 11% YoY to $82.5B
Bobby Allyn / NPR:
Background actors describe studios scanning their bodies and worrying over the lack of control of their digital likenesses, a key issue in the SAG-AFTRA strike  —  After four weeks of working as a background actor on the Disney+ series WandaVision during the pandemic, Alexandria Rubalcaba …
CNBC:
Ilya Lichtenstein, who earlier pled guilty to laundering $4.5B in bitcoin stolen via Bitfinex's 2016 hack, admits in court to being the original Bitfinex hacker  —  - A New York man admitted being the original hacker of bitcoin in the 2016 hack on Bitfinex he pleaded guilty in federal court …
Rohan Goswami / CNBC:
SEC filing: Alphabet sold ~90% of its stake in Robinhood as of June 30, as it pares back large positions in multiple publicly traded firms, including Duolingo  —  - Google parent Alphabet has pared back large positions in multiple publicly traded firms, including the trading platform Robinhood, 23andMe and Duolingo.

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From Mediagazer

Michael M. Grynbaum / New York Times:
The NYT filed a motion Wednesday to quash DOJ subpoenas of three of its reporters demanding they disclose their sources, following coverage of Air Force One

Alex Weprin / The Hollywood Reporter:
Versant plans to overhaul its free streaming service, dropping the “Fandango At Home” branding in favor of a streamlined “Fandango” name and adding new features

Gary Baum / The Hollywood Reporter:
Peter Thiel-backed Objection, initially an AI “tribunal” assessing reporters' articles, rebrands as The Primary to rank journalists “on the rigor” of their work

More News

Bloomberg:
Coinbase reports Q2 revenue down 12% YoY to $707.9M, vs. $631.2M est., net loss down 91% YoY to $97M, and transaction revenue down 50% YoY to $327.1M

Earlier Picks

Nupur Anand / Reuters:
Block reports Q2 revenue up 26% YoY to $5.53B, Square gross profit up 18% YoY to $888M, Cash App gross profit up 37% YoY to $968M; SQ drops 5%+
Brian Fung / CNN:
Sensor Tower: Threads' DAUs fell to 8M on July 31, down 82% from launch; the daily average time spent fell from 19 minutes per day at launch to 2.9 on August 1
Jess Weatherbed / The Verge:
Brave Search updates its image and video search to use Brave's own index rather than Bing's or Google's; some advanced search capabilities are still absent
Devin Coldewey / TechCrunch:
The FCC fines a multi-national robocaller, which placed 5B+ calls pretending to sell auto warranties to collect people's personal information, a record $300M
Kris Holt / Engadget:
Google expands its privacy tools, including to alert users when their personal info appears in Search and to remove consensual explicit images from Search
Arjun Kharpal / CNBC:
Nintendo Q1: revenue up 50% YoY to ~$3.2B and net profit up 52% YoY to ~$1.3B, driven by The Super Mario Bros. Movie, the new Zelda, and Switch sales up 13.9%
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