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August 1, 2024, 5:35 PM
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Apple Inc.:
Apple reports Q3 revenue up 5% YoY to $85.8B, net income up 8% to $21.4B, Americas net sales up 6% to $37.7B, and Europe net sales up 8% to $21.9B  —  June quarter records for Revenue and EPS Services revenue reaches new all-time high  —  Apple® today announced financial results …
Kif Leswing / CNBC:
Apple Q3 revenue: iPhone down 1% YoY to $39.30B, Mac up 2% YoY to $7.01B, iPad up 24% YoY to $7.16B, and Wearables, Home, and Accessories down 2% YoY to $8.10B  —  Apple reported fiscal third-quarter earnings on Thursday that beat Wall Street expectations, with overall revenue rising 5%.
Jordan Novet / CNBC:
Intel reports Q2 revenue down 1% YoY to $12.8B, vs. $12.9B est., Data Center and AI down 3% YoY to $3B, and gives light Q3 guidance; INTC drops 17%+ after hours  —  Intel shares slid 10% in extended trading on Thursday after the chipmaker said Thursday it would lay off over 15% of its employees …
Dean Takahashi / VentureBeat:
Intel plans to cut 15%+ of its workforce, the majority by the end of 2024, as part of a $10B cost reduction plan and to suspend its dividend starting in Q4 2024  —  Intel announced that it will lay off 15% of its workforce as part of a broad cost-reduction program.
Jordan Novet / CNBC:
Amazon reports Q2 AWS revenue up 19% YoY to $26.28B, vs. $26.02B est., and AWS operating income of $9.33B, vs. $8.51B est., up from $5.37B in Q2 2023
Chance Miller / 9to5Mac:
Apple files a motion to dismiss the US DOJ's antitrust lawsuit, arguing the lawsuit has not demonstrated anticompetitive conduct and would harm innovation  —  Apple has officially filed a motion to dismiss the Department of Justice's antitrust lawsuit filed in May. Apple argues the case …
Jordan Novet / CNBC:
In its annual report, Microsoft adds OpenAI as a competitor in AI offerings and search and news advertising; OpenAI unveiled its prototype SearchGPT last week  —  Microsoft's relationship with OpenAI has officially become more complicated.  —  On Tuesday, Microsoft added …
Ivan Mehta / TechCrunch:
Google unveils AI features for Chrome on desktop, including support for Google Lens and searching history via natural language queries, rolling out in the US  —  Google Thursday said that it is introducing new Gemini-powered features for Chrome's desktop version, including Lens for desktop …
Alex Heath / The Verge:
On Meta's earnings call, Mark Zuckerberg said Llama 4 will need almost 10x more compute to train than Llama 3.1, Quest 3 sales exceeded expectations, and more  —  Meta's second quarter earnings continue the same story from the previous quarter: generative AI may be here, but it's going to take a long time to make money.
Zac Hall / 9to5Mac:
The Twitter for Mac app appears to have been delisted from the App Store; some users say their X accounts were suspended after using the X for iPad app on macOS  —  As noted by Vedant, the official Twitter for Mac app is currently missing from the Mac App Store.
CyberScoop:
The US releases Russian cybercriminals Roman Seleznev and Vladislav Klyushin as part of a prisoner swap that freed 16 people from Russia  —  The U.S. government has released at least two Russian nationals behind some of the most notorious cybercrimes of the past decade.
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.
Kate Conger / New York Times:
Don Lemon sues Elon Musk and X, arguing Musk refused to pay him after a $1.5M/year exclusive X content deal fell apart; Lemon did not sign a formal contract  —  The former CNN reporter said in a lawsuit that X had refused to pay him after a testy interview with its billionaire owner.
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.
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 …
Natasha Lomas / TechCrunch:
The EU's AI Act takes effect, triggering staggered compliance deadlines for various AI developers and apps; most provisions will be fully applicable by mid-2026  —  It's official: The European Union's risk-based regulation for applications of artificial intelligence has come into force from Thursday, August 1, 2024.
MacKenzie Sigalos / CNBC:
Block reports Q2 revenue up 11% YoY to $6.16B, vs. $6.28B est., Square profit up 15% to $923M, Cash App profit up 23% to $1.3B, and raises its FY 2024 guidance  —  Block beat on profit in its second-quarter earnings report on Thursday.  The stock rose in extended trading.
More: Block
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.

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From Mediagazer

Wall Street Journal:
Sources: Disney is planning to eliminate as many as 1,000 positions in the coming weeks, many from the company's recently consolidated marketing department

Dade Hayes / Deadline:
Sources: Paramount is unlikely to appoint a direct successor to Jeff Shell after his departure; Shell had few direct reports and did not lead WBD negotiations

Tom Jones / Poynter:
MS NOW announces financial backing for the Pulitzer Center, and collaborations with The Marshall Project on ICE and States Newsroom to feature state reporting

More News

Associated Press:
A Montenegro appeals court upholds a ruling to hand over Terraform Labs co-founder Do Kwon to South Korea, rejecting a bid to extradite him to the US

Earlier Picks

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
Bloomberg:
Investigation: 2020 to 2023 data shows how thousands of middlemen game the H-1B program and companies farm out IT workers to exploit the US visa lottery system
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
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