Techmeme: Block reports Q3 revenue up 6% YoY to $5.98B, vs. $6.24B est., gross profit up 19% YoY to $2.25B, Cash App gross profit up 21% to $1.31B, and a $284M net income (MacKenzie Sigalos/CNBC)

Top News

MacKenzie Sigalos / CNBC:

Block reports Q3 revenue up 6% YoY to $5.98B, vs. $6.24B est., gross profit up 19% YoY to $2.25B, Cash App gross profit up 21% to $1.31B, and a $284M net income — WATCH NOW — Block reported third-quarter revenue on Thursday that trailed Wall Street expectations.

More: Block, Fortune, The Crypto Times, MarketWatch, SiliconANGLE, Blockhead, Bloomberg, and Benzinga. Threads: @kalihays1

Aoyon Ashraf / CoinDesk:

Block says it is investing less in music streaming app Tidal and winding down decentralized “Web5” venture TBD to focus on its bitcoin mining rigs and wallet — The firm is redoubling efforts to supply miners as that industry struggles with profits — and Donald Trump promises help.

More: Music Ally, Blockonomi, TechCrunch, Coinspeaker, crypto.news, Cryptonews, CoinGape, and Decrypt. X: @kantrowitz

Sarah Perez / TechCrunch:

TikTok launches Share to TikTok, which lets users directly share music from Apple Music and Spotify in a post to their TikTok Feed or in DMs via TikTok Messages — TikTok on Thursday debuted a new feature that will more closely connect its app, which already influences which songs top the charts …

More: TikTok, Spotify, Mashable, MSPoweruser, Engadget, Music Ally, PhoneArena, Neowin, Android Headlines, Billboard, Digital Music News, Social Media Today, Pocket-lint, How-To Geek, The Verge, Music Business Worldwide, and Music Week. Threads: @chris

Anissa Gardizy / The Information:

Source: Amazon is discussing a second multibillion-dollar Anthropic investment, asking Anthropic to use servers with Amazon chips; Anthropic prefers Nvidia GPUs — Amazon is discussing making a second multibillion-dollar investment in OpenAI rival Anthropic, according to a person involved in the discussions.

More: DatacenterDynamics, Spyglass, WinBuzzer, SiliconANGLE, TechCrunch, Reuters, and Benzinga

X: @anissagardizy8. Forums: r/singularity

Sebastian Sinclair / Decrypt:

Detroit plans to accept crypto for tax and fee payments from mid-2025 via a PayPal platform that will convert them to USD, becoming the largest US city to do so — Starting in mid-2025, Detroit residents will be able to pay with popular cryptos like Bitcoin and Ethereum through a PayPal-managed platform.

Bloomberg:

Source: Baidu plans to unveil smart glasses with cameras and voice commands built atop AI model Ernie next week, launching as soon as early 2025 for under $299 — China's search leader and longtime investor in artificial intelligence plans to showcase the product at its annual Baidu World event …

More: Fortune, The Information, WinBuzzer, TechNode, and Tech in Asia. Bluesky: @marypcbuk.bsky.social

Bloomberg:

Sony reports Q2 revenue up 9% YoY to ~$19.45B, operating profit up 73% YoY to ~$2.96B vs. ~$2.18B est., and PS5 sales of 3.8M units, down from 4.9M a year ago — - Chinese hit ‘Wukong’ helped game sales on aging PlayStation 5 — Image sensor business was hurt by demand lull in North America

More: GamesIndustry.biz, Sony Group Portal, Engadget, Game World Observer, Benzinga, iPhone in Canada Blog, Wccftech, VentureBeat, Wall Street Journal, Sony Group Portal, Sony Group Portal, and Reuters

Threads: @tomwarrenuk. X: @tomwarren

Blake Brittain / Reuters:

A US federal judge dismisses Raw Story and AlterNet's copyright lawsuit against OpenAI over LLM training, for now, saying the outlets couldn't show enough harm — A New York federal judge on Thursday dismissed a lawsuit against artificial intelligence giant OpenAI that claimed it misused articles …

More: VentureBeat, Engadget, Cointelegraph, Silicon Republic, WinBuzzer, Bloomberg Law, Music Ally, and ai fray

Threads: @carnage4life. X: @rustybrick

See also Mediagazer

Ashley Capoot / CNBC:

Airbnb reports Q3 revenue up 10% YoY to $3.73B, vs. $3.72B est., net income down 68% YoY, and Nights and Experiences Booked up 8% YoY to 122.8M, vs. 121.4M est. — Airbnb reported third-quarter earnings on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat.

More: Proactive, RTÉ, MarketWatch, Business Insider, Skift, The Information, Reuters, Wall Street Journal, Benzinga, Airbnb, and Investor's Business Daily

Ari Levy / CNBC:

AppLovin shares close up 46% after the company reported Q3 revenue up 39% YoY to $1.2B, vs. $1.13B est., and issued guidance well above est.; APP is up 519% YTD — AppLovin shares soared 46% on Thursday after the online gaming and advertising company issued guidance that was well above estimates …

More: PocketGamer.biz, AppLovin, Benzinga, Proactive, Motley Fool, Forbes, Investor's Business Daily, and Barron's Online. X: @anshublog

Financial Times:

Sources: TSMC told Chinese customers it would no longer manufacture AI chips at advanced process nodes of 7nm or smaller as of this coming Monday — World's biggest contract chipmaker acts to ensure it is in line with US restrictions on Chinese access to latest processors

More: Business Insider, South China Morning Post, Barron's Online, Reuters, Cryptopolitan, Wccftech, Nikkei Asia, TrendForce News, and Bloomberg

Thomas Brewster / Forbes:

iVerify's founder says the FBI is investigating whether China used its access to Verizon networks to infect the iPhones of staff of a US presidential campaign — The FBI has been notified of evidence of hacking on the iPhones of two senior officials at one of the presidential campaigns.

More: AppleInsider. X: @iblametom and @iblametom

Wall Street Journal:

Sources: the CFPB told staff not to conduct work using mobile voice calls or text messages due to China-linked telco hack; many US officials curtailed phone use

More: CSO, Metacurity, KDFX-TV, CyberScoop, ABC7, and CPO Magazine

Ming-Chi Kuo:

Kuo: Apple plans to upgrade the wide-angle lens in the high-end iPhone 18 in 2026 to a variable aperture camera — Key Growth Drivers for Sunny Optical's Apple Orders in 2025-2026: — 1. Lens Supply Allocation to Rebound Significantly from ~5% in 2024 to 15-20% in 2025

More: MacRumors, AppleInsider, 9to5Mac, Android Authority, Patently Apple, Sammy Fans, PhoneArena, TechRadar, and Wccftech

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