Techmeme
October 27, 2022, 4:50 AM

Top News

Meta - Investor Relations:
Meta reports Q3 revenue down 4% YoY to $27.7B, net income down 52% YoY to $4.4B, family daily active users up 4% YoY to 2.93B, staff up 28% YoY; stock down 20%+  —  MENLO PARK, Calif. - October 26, 2022 - Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2022.
Nelson Wang / CoinDesk:
Meta reports Reality Labs had a $3.67B loss in Q3 on $285M in revenue, vs. $406M est., and says the unit's operating loss will grow “significantly” in 2023  —  Meta's revenues for the division came in at $285 million, down from $452 million in the second quarter.
Nick Statt / Protocol:
Edward Ludlow / Bloomberg:
Kirsten Korosec / TechCrunch:
Autonomous vehicle startup Argo AI, which raised $2.6B+, is shutting down; sources say parts of the company and some employees would be absorbed by Ford and VW  —  Argo AI, an autonomous vehicle startup that burst on the scene in 2017 stacked with a $1 billion investment, is shutting down …
Tom Warren / The Verge:
Microsoft says Xbox Game Pass is profitable and accounts for ~15% of Xbox's content and services revenue, after sharing PC Game Pass subscriptions rose 159% YoY  —  Microsoft Gaming CEO Phil Spencer has revealed that the company's Xbox Game Pass subscription service is already profitable.
Steven Musil / CNET:
Samsung reports Q3 operating profit down 31%+ YoY to $7.65B, the first decline in ~3 years, revenue up ~4% YoY to $54.1B, and semiconductor sales down 14% YoY  —  Samsung's quarterly profit declined in the third quarter for the first time in nearly three years economic uncertainty continues …
Reuters:
Sources: the US DOJ launched a criminal probe into Tesla in 2021 that is still underway, following over a dozen crashes, some fatal, with Autopilot activated  —  Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company's electric vehicles can drive themselves …
Chance Miller / 9to5Mac:
Apple patches a bug in iOS 16.1 and macOS Ventura that could let apps with Bluetooth access record user conversations with Siri without needing mic access  —  Apple released iOS 16.1 and macOS Ventura to the public this week.  In addition to headlining new features and changes, there are also essential security fixes as well.
David Gutman / The Seattle Times:
A Washington judge fines Meta ~$24.7M, the maximum possible amount, after finding the company intentionally violated campaign finance disclosure laws 822 times  —  Meta, Facebook's parent company, was fined nearly $25 million Wednesday for intentionally and repeatedly violating Washington's campaign finance laws.
The Wire:
The Wire apologizes, saying technical evidence should have been independently verified and that it was deceived “by a member of our Meta investigation team”  —  Last week, The Wire formally retracted its Meta stories after conducting an internal review of the technical source material used …
Wayne Ma / The Information:
Source: Apple is working on an iPad with a 16-inch screen, the largest iPad yet and in line with the company's largest laptop, and is planning a Q4 2023 release  —  Apple is developing its largest iPad yet, a model with a 16-inch screen that it hopes to release in the fourth quarter of next year …
Mack DeGeurin / Gizmodo:
The UK's ICO warns organizations about the risks of using “emotional analysis” tech, and plans to publish its biometric guidance in spring 2023  —  The watchdog's deputy commissioner warned the tech wasn't backed by science and that any benefits were outweighed by the risks.  —  Alerts
Han Chen / Axios:
Report: US state and local governments kept buying Chinese telecom equipment despite a federal-level ban; only five states have rules to limit such purchases  —  Despite federal efforts to block Chinese telecom equipment from U.S. supply chains, state and local governments across …

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