Techmeme
February 3, 2022, 8:20 AM

Top News

Lauren Feiner / CNBC:
Meta beats with Q4 revenue of $33.67B vs. $33.4B est., up 20% YoY, 2.91B MAUs, up 4% YoY, but misses with EPS of $3.67 vs. $3.84 est.; stock down 20%+  —  - Facebook earnings came in below expectations for the fourth quarter, and the company said numerous challenges are ahead in the first quarter.
Meta:
Meta breaks out Facebook, Instagram, Messenger, and WhatsApp as Family of Apps, with Q4 revenue of $32.8B, up 20% YoY, and will adopt the META ticker in H1 2022  —  Meta Platforms, Inc. (Nasdaq: FB) today reported financial results for the quarter and full year ended December 31, 2021.
Stephanie Condon / ZDNet:
Meta CFO says Apple's ATT privacy changes will cost the company $10B in revenue during 2022 and says Google “faces a different set of restrictions from Apple”  —  Meanwhile, the company accused Apple of favoring Google over app-based platforms like Facebook with its privacy policies
Washington Post:
Meta reports its first-ever sequential decline in global Facebook daily active users, falling from 1.930B to 1.929B QoQ  —  Facebook parent Meta's stock nosedives in after-hour trading as the company refocuses on the metaverse.  —  Facebook parent Meta's quarterly earnings report …
Janko Roettgers / Protocol:
Meta breaks out its AR/VR-focused Reality Labs unit, reporting 2021 revenue of $2.3B, up from $1.1B in 2020, and losses of $10.2B in 2021, up from $6.6B in 2020  —  Meta's AR and VR ambitions come with a significant price tag: Meta's Reality Labs unit lost $10.2 billion last year …
Catalin Cimpanu / The Record:
Blockchain bridge Wormhole confirms a hacker stole $322M worth of ETH and moves its site into maintenance mode; Wormhole is offering a $10M “bug bounty”  —  A threat actor has abused a vulnerability in the Wormhole cryptocurrency platform to steal an estimated $322 million worth of Ether currency.
Los Angeles Times:
Sources: in a Spotify staff meeting, CEO Daniel Ek said the company sees itself as a platform for, not a publisher of, Joe Rogan's podcast  —  Spotify CEO Daniel Ek told employees Wednesday morning that the streaming service doesn't closely supervise controversial podcast host Joe Rogan …
J. Clara Chan / The Hollywood Reporter:
Arif Bacchus / OnMSFT.com:
Report: Microsoft scrapped plans for a HoloLens 3 in 2021, shifting instead to a mixed reality device with Samsung and leaving the HoloLens team “inflamed”  —  Microsoft turned heads when it first introduced HoloLens, and it even launched a second generation of the mixed reality headset …
Ax Sharma / BleepingComputer:
KP Snacks, a major British snack producer, has been hit by the Conti ransomware, impacting supplies of Skips, Hula Hoops, McCoy's, and others to supermarkets  —  KP Snacks, a major producer of popular British snacks has been hit by the Conti ransomware group affecting distribution to leading supermarkets.
Saritha Rai / Bloomberg:
Counterpoint: Apple sold 2.3M iPhones in India during Q4, up 34% YoY, netting ~$2.09B revenue; Xiaomi sold 9.3M, up 2% YoY, and Samsung sold 7.2M, down 8% YoY  —  Apple Inc. had its strongest quarter for iPhone sales in India yet, a sign the Cupertino, Calif.-based company is finally making progress …
Mike Butcher / TechCrunch:
France-based Snapshift, a service for managing frontline workers, raises a $45M Series A led by Highland Europe and says it has over 6,000 customers  —  With the so-called “Great resignation” many frontline workers (nurses, truck drivers etc) are re-assessing their lives in the wake of the pandemic …
More: FinSMEs
Brooke Masters / Financial Times:
A look at efforts to reinvigorate Scotland's “Silicon Glen”, led by Edinburgh, which has the largest concentration of academic AI researchers in Europe  —  Scottish AI entrepreneurs dream of resurrecting Silicon Glen and making it last  —  Thirty years ago, Scotland had a burgeoning tech industry.
Michael Smith / Bloomberg:
Ahead of expected icy weather, Riot Blockchain, the largest Bitcoin mining company in Texas, reduces power consumption by 98% at its Whinstone facility  —  Crypto miner Riot Blockchain Inc. shut down most of its huge Bitcoin-making operation in Texas to conserve electricity as a wave of cold …

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Catalin Cimpanu / The Record:

Earlier Picks

Andy Greenberg / Wired:
Wall Street Journal:
James Vincent / The Verge:
Stephanie Bodoni / Bloomberg:
Jon Porter / The Verge: