April 26, 2023, 10:20 PM

Top News

Competition and Markets Authority:
The UK CMA blocks Microsoft's $68.7B Activision acquisition, citing competition and innovation concerns in the UK cloud gaming market; Microsoft plans to appeal  —  The CMA has prevented Microsoft's proposed purchase of Activision over concerns the deal would alter the future …
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Meta reports Q1 revenue up 3% YoY to $28.6B, net income down 24% YoY to $5.7B, and family daily active people up 5% YoY to 3.02B for March 2023; META jumps 10%+  —  “We had a good quarter and our community continues to grow,” said Mark Zuckerberg, Meta founder and CEO.
Jonathan Vanian / CNBC:
Meta's Reality Labs unit reports Q1 revenue down 51% YoY from $695M to $339M and operating loss up 35% YoY from $2.96B to $3.99B, after losing $13.72B in 2022  —  - Meta's Reality Labs unit had a $3.99 billion operating loss in the first quarter, after losing $13.72 billion last calendar year.
Amanda Silberling / TechCrunch:
Mark Zuckerberg disputes the narrative that Meta is moving its focus away from a metaverse vision and sees AI tech working in tandem with the metaverse  —  Things are looking up for Meta.  The company beat revenue expectations, reporting an increase in year-over-year revenue for the first time in three quarters.
Darrell Etherington / TechCrunch:
Meta says time spent on Instagram grew 24%+ since Reels launched thanks to AI recommendations, and expects Reels to be revenue-neutral by year end or early 2024  —  Meta shared some updated engagement info around its platforms on its Q1 2023 quarterly earnings call on Wednesday …
Victoria Song / The Verge:
Amazon shuts down its health-focused Halo division, discontinues its Halo Band, Halo View, and Halo Rise devices, and plans to lay off portions of the team  —  Amazon has decided to shutter its health-focused Halo division, The Verge has learned.  Amazon has stopped selling its three Halo products …
Abner Li / 9to5Google:
Paul Sawers / TechCrunch:
Lookout agrees to sell its consumer mobile security business to F-Secure in a deal valued at around $223M, transitioning into a “pure-play enterprise company”  —  Lookout's long-running transition to becoming an enterprise security company is all but complete …
Brian Fung / CNN:
US senators unveil a bipartisan bill that bans kids under 13 from joining social media and requires tech companies to get parental consent for teens' accounts  —  A new federal bill unveiled Wednesday would establish a national minimum age for social media use and require tech companies …
Todd Spangler / Variety:
Roku reports Q1 revenue up 1% YoY to $741M, platform revenue down 1% YoY to $635M, streaming hours up 20% YoY to 25.1B, and active accounts up 17% YoY to 71.6M  —  Users streamed a record high of 3.9 hours per active account per day during the quarter, company says
Josh Eidelson / Bloomberg:
YouTube Music contractors from Cognizant vote to unionize with the Alphabet Workers Union; Alphabet is appealing a ruling that Google is their joint employer  —  The majority of a group of YouTube contract staff in Texas have voted to unionize in a labor victory that could force parent company Alphabet Inc …
Angus Loten / Wall Street Journal:
PricewaterhouseCoopers plans to invest $1B in generative AI over the next three years, working with Microsoft and OpenAI to automate some of its US operations  —  Multiyear investment in U.S. business includes accessing ChatGPT maker OpenAI's language model, training staff in AI capabilities
New York Times:
A look at the mounting US legal pressure on Binance: the DOJ's money laundering division leading a criminal investigation, CZ hiring Latham & Watkins, and more  —  The scrutiny on Binance, the giant cryptocurrency exchange, has sent new tremors through a market that is still bruised by the implosion of FTX.
Yueqi Yang / Bloomberg:
Allison Johnson / The Verge:
Lenovo announces the $699 Lenovo ThinkPhone by Motorola, with ThinkPad-compatible productivity features, available to enterprises now and unlocked on April 28  —  The Lenovo ThinkPhone by Motorola is available in the US starting today for $699, offering a suite of productivity features designed to work with ThinkPad laptops.

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