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August 1, 2024, 11:10 AM
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Meta reports Q2 revenue up 22% YoY to $39B, net income up 73% to $13.5B, and family daily active people up 7% to 3.27B on average for June 2024; META jumps 9%+ — Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended June 30, 2024.
More: Yahoo Finance, UploadVR, Kiplinger.com, Finbold, Computing, Tech Monitor, WinBuzzer, Investing.com, Silicon Republic, Coinspeaker, SiliconANGLE, Cointelegraph, Shacknews, Quartz, The Wrap, The Hollywood Reporter, Constellation Research, Wall Street Journal, and CNBC
Threads: @jonathan_vanian_1, @supremebagholder, @kurtwag8, @karissabe, and @supremebagholder
X: @munster_gene, @munster_gene, @munster_gene, @munster_gene, @chrisfralic, @mikeisaac, @altcap, @munster_gene, @munster_gene, @joecarlsonshow, @ldignan, @firstadopter, @firstadopter, @edludlow, @rihardjarc, @munster_gene, @tidefallcapital, @stockmktnewz, and @supbagholder. LinkedIn: Emil Protalinski. Facebook: Mark Zuckerberg
| Jonathan Vanian / CNBC: |
More: Silicon Valley Business …, Game Developer, MIXED Reality News, COINTURK NEWS, Yahoo Finance, New York Times, and Variety
Threads: @daveleebbg. X: @yasminkhorram, @benz145, @rebrand_as_y, @ballmatthew, @munster_gene, @rjcaster, and @levynews
LinkedIn: Matt Mickelson and Rafael Brown
Forums: r/technology, r/technews, and Slashdot
| Alex Heath / The Verge: |
More: TechCrunch, CNBC, The Register, Investopedia, Yahoo Finance, Benzinga, Android Central, and Associated Press
Threads: @karelbaloun, @mostly.borrowed.ideas, @karissabe, and @alexheath
X: @jimcramer, @alexeheath, @bluechipdaily, @the_ai_investor, @benitoz, @andrewcurran_, @andrewcurran_, and @ericjhonsa. Facebook: Mark Zuckerberg. Forums: r/technology
| Alex Heath / The Verge: |
Reddit CEO Steve Huffman says Microsoft, Anthropic, and Perplexity need to pay to scrape Reddit's data, and blocking them has been “a real pain in the ass” — After striking deals with Google and OpenAI, Reddit CEO Steve Huffman is calling on Microsoft and others to pay if they want to continue scraping the site's data.
More: 404 Media, Search Engine Land, Engadget, Ars Technica, Livemint, Android Headlines, WinBuzzer, Bloomberg, Windows Central, and Neowin
Forums: r/OpenAI, r/technology, and Ars OpenForum
| Shirin Ghaffary / Bloomberg: |
OpenAI tells US lawmakers that it is “dedicated” to “rigorous safety protocols at every stage of our process” and is working with the US AI Safety Institute — OpenAI, responding to questions from US lawmakers, said it's dedicated to making sure its powerful AI tools …
More: Engadget, TechCrunch, Neowin, and Cybernews.com
X: @sama, @jeffladish, @kelseytuoc, and @basedbeffjezos
| CNBC: |
Delta Air Lines CEO Ed Bastian says the CrowdStrike-caused outage will cost the company $500M, after canceling 6,000+ flights, and Delta will seek damages — WATCH NOW — Delta Air Lines CEO Ed Bastian said Wednesday that the massive IT outage earlier this month that stranded thousands of customers will cost it $500 million.
More: BBC, DatacenterDynamics, Tech Monitor, Metacurity, CNBC, Reuters, PC Gamer, Cybersecurity Dive, Bloomberg, ITPro, Silicon Republic, International Business Times, Inc.com, Cyber Daily, CRN, Associated Press, The Hill, The Information, CRN, Quartz, NPR, New York Post, Windows Central, PCWorld, MSPoweruser, and Financial Times
X: @kpottermn, @kpottermn, @morningbrew, @david_slotnick, @kpottermn, @malwarejake, @0xtib3rius, @carnage4life, and @carnage4life. LinkedIn: Jacob Williams. Forums: r/wallstreetbets
| Brian Steinberg / Variety: |
WBD, Disney, and Fox plan to launch their joint sports streaming venture Venu for $42.99 per month initially, with a seven-day free trial, expected in fall 2024 — Streaming sports on a stand-alone basis won't be cheap. … The service is expected to debut in the fall in conjunction with the start of the next NFL season.| Allison Johnson / The Verge: |
Apple Intelligence in iOS 18.1 beta hands-on: meaningful Siri language understanding improvements and Siri text input is nice, but few other notable features — In iOS 18's latest developer preview, Siri gets a glow-up. Like, the whole phone actually glows around the edges when you invoke Siri.| Tom Warren / The Verge: |
Discord on Xbox gets the ability to watch friends' Discord streams whether they're sharing from a PC, a phone, or an Xbox, rolling out over the coming weeks — Microsoft and Discord are greatly improving the integration of the communication platform into Xbox consoles.
More: Discord Blog, Xbox Wire, Windows Central, WinBuzzer, TechRadar, Insider Gaming, Shacknews, Eurogamer.net, Press Start, Video Games Chronicle, XboxEra, Game Rant, Neowin, Pure Xbox, Thurrott, PC Gamer, Gizmodo, PCMag, IGN, and Dexerto
| Jonathan Kemper / The Decoder: |
Google unveils updates to its Gemma family of open models, including Gemma 2 2B, which it claims surpasses GPT-3.5 and Mixtral 8x7B on the LMSYS Chatbot Arena — Google has unveiled updates to its Gemma 2 family of open-source language models, focusing on improved performance, safety, and transparency.
More: Google Developers Blog, Tech Monitor, TechCrunch, VentureBeat, WinBuzzer, The Indian Express, MarkTechPost, The Rundown AI, SiliconANGLE, Hugging Face, NewsBytes, Maginative, AIM, and TNW
X: @lmsysorg, @googledeepmind, @reach_vb, @googledeepmind, @gblazex, @chris_j_paxton, and @googledeepmind
LinkedIn: Wenjun Zeng and Ludovic Peran
| Andrew Romero / 9to5Google: |
Telegram rolls out a Mini App Store to help users find apps, a new in-app browser that supports multiple tabs, and says mini apps have 500M+ out of 950M MAUs — Telegram is refining the in-app expereince, adding a new way to interact with the browser and a Mini App Store for native applications.| Cecilia D'Anastasio / Bloomberg: |
Roblox reports Q2 revenue up 31% YoY to $894M, bookings up 22% YoY to $995M, a $206M net loss, average DAUs up 21% YoY to 79.5M, projects Q3 bookings above est. — - Daily users jumped 21% in second quarter from a year ago — CFO Michael Guthrie stepping down to pursue personal interests
More: Barron's Online, Reuters, Benzinga, and Roblox Corporation
| Sam Sabin / Axios: |
The CISA names Lisa Einstein as its first chief AI officer; Einstein has been a senior adviser at the agency since last year and helped craft CISA's AI roadmap — - She had been a senior adviser at the agency since last year, focused on AI issues — she helped craft CISA's AI roadmap … | Bloomberg: |
While owning less than 1% of TSMC, the number of retail shareholders hit a new high in 2024, as locals believe TSMC's success helps Taiwan fend off China — - Chipmaker is dubbed ‘holy mountain that safeguards the nation’ — Number of retail shareholders has reached a record this year| Sankalp Phartiyal / Bloomberg: |
Analysis: Indian startup VC funding has dwindled, depriving India of capital needed to grow its economy, as the valuation of top companies like Byju's implodes — Byju's, Paytm falter in stark reminder of the unique risks and challenges facing the country's tech economy.| Bloomberg: |
Investigation: 2020 to 2023 data shows how thousands of middlemen game the H-1B program and companies that farm out IT workers exploit the US lottery system — Each year in April, the US government conducts a lottery that shapes the lives of hundreds of thousands of people — and America's future as an economic power.
X: @deedydas, @yask123, @ericfan_journo, @ericfan_journo, @ericfan_journo, and @ericfan_journo. LinkedIn: Viet Bui
Forums: Hacker News and r/Economics
| Wesley Yin-Poole / IGN: |
Bungie says it will lay off 220 employees, or 17% of its workforce, and integrate an additional 155 roles into its parent company Sony Interactive Entertainment — “Today is a difficult and painful day.” — Destiny developer Bungie has today announced significant cuts at the studio …
More: Bungie.net, The Verge, HotHardware, Forbes, Dot Esports, Kotaku, Kotaku, PlayStation LifeStyle, Windows Central, TechRadar, Game World Observer, Seattle Business Journal, Gameranx, Dexerto, Press Start, Android Headlines, Stevivor, Push Square, PC Games Insider, GamingBolt, Engadget, Eurogamer.net, VG Charts, VG247, Game Informer, Hardcore Gamer, Metro.co.uk, Los Angeles Times, GamesRadar, GamesRadar, The Wrap, TechCrunch, Neowin, Game Rant, Pocket-lint, GamingBolt, VentureBeat, Aftermath, Rock, Paper, Shotgun, Polygon, GeekWire, PC Gamer, Wccftech, TechRaptor, XboxEra, Variety, Game Developer, Destructoid, The Hollywood Reporter, Digital Trends, Pure Xbox, GamesIndustry.biz, GameSpot, Video Games Chronicle, and Kotaku
X: @jasonschreier, @bungie, @a_dmg04, @d2cbro, @griffinwb, @transientgamers, @the_ragespy, @nadiaudio, @kperng, @mangalawyer, @fishprison, @hazelmonforton, @genepark, @ne0mega, @thereallexuzi, @niftybiiscuit, @dirtyeffinhippy, @vahn16, @alex_frostwolf, @dirtyeffinhippy, @mynameisbyf, and @amberillig. Forums: r/pcgaming
| Ian King / Bloomberg: |
Arm reports Q1 revenue up 39% YoY to $939M vs. $905.4M est., license and other revenue up 72%, and maintains its outlook for FY 2025; ARM drops 10%+ — - Company doesn't boost outlook despite topping earnings views — CEO says weakness in certain markets is offsetting sales gains
More: Barron's Online, DatacenterDynamics, Proactive, Fast Company, Investing.com, Reuters, Arm, Silicon Canals, The Register, SiliconANGLE, CNBC, and Benzinga
| Bloomberg: |
A look at Baidu's experiment with driverless taxis in Wuhan, which became China's biggest proving ground for Baidu's taxis due to a relaxed regulatory approach — Wuhan's experiment with driverless taxis could help China lead the world on the emerging technology. It also risks putting thousands of people out of work.| Financial Times: |
Sources: the UK told tech companies the AI bill will make existing voluntary agreements legally binding and the AI Safety Institute into an Arm's Length Body — Minister assures tech firms that upcoming legislation will be highly targeted — UK tech secretary Peter Kyle … | Ian King / Bloomberg: |
Qualcomm reports Q3 revenue up 11% YoY to $9.39B, vs. $9.21B est., handset chip sales up 12% YoY to $5.9B, and forecasts Q4 revenue above estimates — - Company says phone units will be ‘flattish’ this year — Upbeat revenue forecast had buoyed stock after earnings report| Yazhou Sun / Bloomberg: |
Some UK business leaders and academics worry the UK rejecting a record number of Chinese students due to fears of espionage puts the UK's tech ambitions at risk — Some business leaders and academics worry that a campaign to protect universities from espionage puts the country's scientific ambitions at risk.| Tales Azzoni / Associated Press: |
The Premier League, Bundesliga, DAZN, Sky, UEFA, CONMEBOL, and others write to X CEO Linda Yaccarino demanding more action against illegal soccer content on X — Some of Europe's main broadcasters and top soccer leagues have sent a letter to the CEO of social media platform X, Linda Yaccarino … | Mackenzie Hawkins / Bloomberg: |
Sources: the US considers unilateral restrictions on China's access to AI memory chips and equipment, to keep Micron, SK Hynix, and Samsung from supplying China — - SK Hynix and Samsung could be affected by the new US rule — China's AI memory chip capability lags behind global rivals
More: RTÉ, Computerworld, The Korea Herald, Reuters, OC3D, TweakTown, Quartz, HotHardware, and Forbes
| Chris Kay / Financial Times: |
Infosys confirms that Indian authorities hit the IT giant with a $3.9B tax demand, covering July 2017 to March 2022, the latest company to get such a demand — Leading tech services provider is latest corporate champion to be handed surprise bill by revenue collectors
More: CIO.com, Business Today, Moneycontrol, and The Register
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