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October 26, 2022, 10:35 PM
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Meta Q3: revenue down 4% YoY to $27.7B, net income down 52% YoY to $4.4B, family daily active people up 4% YoY to 2.93B, headcount up 28% YoY; stock drops 19%+ — MENLO PARK, Calif. - October 26, 2022 - Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2022.
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| Nelson Wang / CoinDesk: |
Meta reports Reality Labs had a $3.67B loss for Q3 2022 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.
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The Block, Bloomberg, Blockworks, Decrypt, TechCrunch, Insider, TheStreet, and San Francisco Chronicle
Tweets: @firstadopter, @jerrycap, @cixliv, @alexeheath, @rsg, @tonyromm, @firstadopter, @stevekovach, @richlightshed, @lanceulanoff, @cixliv, @cixliv, @marionawfal, @pkafka, @sadlyitsbradley, @cixliv, @sal19, and @tomwarren
| Nick Statt / Protocol: |
Meta plans to launch the next generation of its consumer Quest headset in 2023 — A follow-up to the Quest 2 virtual reality headset is arriving next year, Meta said in its most recent earnings announcement. The device will be a consumer-grade headset unlike the recently released Quest Pro …
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CNET, Engadget, IGN, Road to VR, UploadVR, Game Rant, TechCrunch, Shacknews, BGR, and Laptop Mag
Tweets: @jank0, @davezatz, @sadlyitsbradley, @epro, @nickstatt, and @nickstatt
| Edward Ludlow / Bloomberg: |
Elon Musk changes his Twitter bio to Chief Twit and visits the company's San Francisco office; memo to employees: “you'll all hear directly from him on Friday” — Elon Musk made his presence felt at Twitter's San Francisco headquarters Wednesday, posting a video clip of himself walking …
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| Kirsten Korosec / TechCrunch: |
Autonomous vehicle startup Argo AI, which raised $2.6B+, is shutting down; sources: 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 …
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Silicon Valley Business …, CNN, Reuters, Forbes, Engadget, Financial Times, Detroit News, MarketWatch, Axios, Wall Street Journal, SiliconANGLE, The Robot Report, Bloomberg, CNBC, New York Times, SlashGear, The Verge, and Technical.ly
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| 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.
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The Verge, Android Authority, Video Games Chronicle, 9to5Google, Engadget, BGR, Kotaku, TheGamer, MobileSyrup, Sports Business Journal, IGN, Game Rant, OnMSFT.com, Wccftech, Stevivor, GameSpot, The GameDiscoverCo newsletter, and Windows Central
Tweets: @tomwarren, @tomwarren, @iansherr, @jmaine518, @kmega4, @vicious696, and @destinlegarie
| 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 …
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| Joe Rossignol / MacRumors: |
Following complaints from prominent developers, Apple says it has “paused ads related to gambling and a few other categories on App Store product pages” — Apple today rolled out new ad placements in the App Store on the iPhone, allowing developers to advertise their apps in more places …
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The Verge, Read and Share Twitter …, AppleInsider, The Verge, AppleInsider, BGR, 9to5Mac, iMore, FOSS Patents, Pixel Envy, iPhone Hacks, XDA Developers, Philip Elmer‑DeWitt, AppleInsider, and Cult of Mac
Tweets: @simonbs, @basicappleguy, @marcoarment, @viticci, @cabel, @hot_doggin_jon, @wolfiechristl, @gruber, @simonbs, @jasoneccles, @johnvoorhees, @chris_lawley, @rsgnl, @simonbs, @fromedome, @stroughtonsmith, @eshumarneedi, @apollozac, @notspamipromise, @fahim_al_mahmud, @wolfiechristl, @gte, @cabel, @mr_james_c, @rauschma, @jesslynnrose, @johnbalestrieri, @rsgnl, @antumbral, @uzmabarlaskar, @sub8u, @marcoarment, @pt, @cabel, @thomasfuchs, @radiantav, @reinholdkesler, @tariqkrim, and @gergelyorosz
| Jon Victor / The Information: |
Andy Rubin incorporated home security monitoring software startup Simple Things in July 2020 and appears to have hired staff from his defunct startup Essential — Andy Rubin is planning his next act. — The former Google executive, who received a $90 million severance package following … | Berber Jin / Wall Street Journal: |
Sources: a16z's flagship crypto fund is down ~40% in H1 2022, above the 10%-20% losses at rival funds; a16z dramatically slowed its crypto investments in 2022 — Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’ — Crypto Crashed, Coinbase's Stock Followed: What Went Wrong
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The Information, Politico, Protocol, San Francisco Business Journal, CryptoPotato, Crunchbase News, Cointelegraph, Blockworks, Watcher Guru, and Protos
Tweets: @codinghorror, @gergelyorosz, @cararlombardo, @wublockchain, @adamlashinsky, @berber_jin1, @paleofuture, @dhm, @eliotwb, @iankar_, @mayazi, @mayazi, and @cavandy
| 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 …
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MacRumors, XDA Developers, CNET, MobileSyrup, iPhone in Canada Blog, Redmond Pie, 9to5Mac, Pocket-lint, Android Authority, BGR, SlashGear, and Cult of Mac
Tweets: @parkerortolani, @stroughtonsmith, @viticci, @jessicalessin, @stroughtonsmith, @anm, @samifathi_, and @bengeskin
| Steven Musil / CNET: |
Samsung Q3: operating profit down 31%+ YoY to $7.65B, revenue up ~4% YoY to $54.1B, semiconductor sales down 14% YoY; first quarterly profit decline in ~3 years — Samsung's quarterly profit declined in the third quarter for the first time in nearly three years economic uncertainty continues … | 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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Center for Security …, Nextgov, Defense One, and StateScoop
Tweets: @csetgeorgetown and @mytechmusings
| Zack Whittaker / TechCrunch: |
Leaked data from TheTruthSpy stalkerware network reveals its Android apps tracked the calls, locations, and other information of hundreds of thousands of people — Leaked data reveals the apps tracked locations and recorded calls of Americans — A massive cache of leaked data reveals …
Tweets: @tonyajoriley
| Keerthi Vedantam / Crunchbase News: |
Atlanta-based ConnexPay, which integrates incoming user payments with supplier payments in one platform, raised $110M from FTV Capital for European expansion — Fintech platform ConnexPay announced on Tuesday it received $110 million in growth investment led by FTV Capital to expand the company beyond the U.S. and into Europe.
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Business Wire, FinSMEs, Crowdfund Insider, Star Tribune, PE Hub, PitchBook, and PYMNTS.com
| Kevin Purdy / Ars Technica: |
iPad Pro (2022) review: M2 runs GPU-intensive tasks well and Pencil hover is nice, but the upgrade is incremental and the front camera remains on the wrong side — This year's iPad Pro has even more power. It's nice, but a true upgrade beckons. — If you're an Apple Pencil devotee …
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Laptop Mag, Cult of Mac, Daring Fireball, and iPhone in Canada Blog
Tweets: @parkerortolani and @arstechnica
| Meir Orbach / CTech: |
Source: Israeli cybersecurity startup Cybereason laid off 200 employees, or 17%, after letting ~100 staff go in June and filing for a US IPO earlier in 2022 — This is the second round of layoffs at the company, which parted ways with around 100 employees in June| Bloomberg: |
Seagate misses Q1 estimates with $2.04B revenue and plans to cut ~3,000 jobs, saying big buyers are reducing orders; the stock drops 6%+ and is down 50%+ YTD — Seagate Technology Holdings Plc, the biggest maker of computer hard drives, said it's eliminating about 3,000 jobs and that big buyers …
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Reuters, The Register, Blocks and Files, Seagate, CNBC, SiliconANGLE, Gizchina, and Neowin. Tweets: @niubi
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