Techmeme
April 27, 2023, 9:15 PM

Top News

Amazon:
Amazon reports Q1 revenue up 9% YoY to $127.4B, a $3.2B net income, vs. a $3.8B net loss YoY, AWS revenue up 16% YoY to $21.4B, and staff down 10% YoY to 1.47M  —  Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2023.
Ellen Huet / Bloomberg:
Clubhouse plans to lay off 50%+ of its employees and “reset” the company, despite claiming to have “years of runway”; Clubhouse had ~100 staff in October 2022  —  Clubhouse, the pandemic-era social media sensation, is cutting more than half of its employees, the company said in a blog post on Thursday.
BBC:
Microsoft's Brad Smith says the UK CMA's move to block the Activision deal is “bad for Britain” and “is probably the darkest day in our four decades in Britain”  —  Microsoft's president has attacked the UK after it was blocked from buying US gaming firm Activision …
Cecilia D'Anastasio / Bloomberg:
The UK CMA's block of Microsoft's Activision deal focuses on the nascent cloud gaming market, confusing analysts as regulators typically focus on mature markets  —  UK regulators blocked Microsoft Corp.'s $69 billion purchase of Activision Blizzard Inc. over concerns it would harm competition …
Tom Warren / The Verge:
Wayne Ma / The Information:
Sources detail how organizational dysfunction and a lack of ambition bogged down Apple's AI and ML efforts, including the work of the group responsible for Siri  —  Late last year, a trio of engineers who had just helped Apple modernize its search technology began working on the type …
Ingrid Lunden / TechCrunch:
Jonathan Vanian / CNBC:
Snap reports Q1 revenue down 7% to $989M, vs. $1.01B est., global DAUs up 15% YoY to 383M, vs. 384M est., and a $329M net loss, vs. $360M YoY; SNAP drops 15%+  —  - Snap came in light on revenue and ARPU in its first-quarter earnings report.  — The company said its “internal forecast” …
IDC:
Global smartphone shipments fell 14.6% YoY to 268.6M in Q1 2023, the seventh consecutive quarter of decline; Samsung fell 18.9%, Apple 2.3%, and Xiaomi 23.5%  —  NEEDHAM, Mass., April 27th, 2023 - Worldwide smartphone shipments declined 14.6% year over year to 268.6 million units in the first quarter of 2023 …
CNBC:
Coinbase offers a fiery response to the SEC's Wells notice from March 2023, saying enforcement action would present “major” risks to the SEC's regulatory model  —  - Crypto exchange Coinbase told the SEC that any enforcement action against the exchange would “fail on the merits” …
Kif Leswing / CNBC:
Intel reports Q1 revenue down 36% YoY to $11.7B, vs. $11.04B est., its largest quarterly loss yet, and Data Center and AI revenue down 39% YoY to $3.7B  —  - Intel reported first-quarter results on Wednesday that showed a staggering 133% annual reduction in earnings per share.
The Guardian:
Interviews with 70+ sources describe how Facebook and Instagram have become major child trafficking platforms and how they slow down prosecutors' investigations  —  Our two-year investigation suggests that the tech giant Meta is struggling to prevent criminals from using its platforms to buy and sell children for sex
Mickey Djuric / Canadian Press:
Canada's Online Streaming Act passes final hurdle in Parliament; it requires streamers to support Canadian content and gives the CRTC regulatory power over them  —  OTTAWA - A federal bill that will force digital platforms like Netflix and YouTube to contribute financially to Canadian content is on the cusp of becoming law.

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More News

Aisha Malik / TechCrunch:
Andrea Vittorio / Bloomberg Law:

Earlier Picks

Bloomberg:
Bloomberg:
Jeffrey Knockel / The Citizen Lab:
Reuters:
Chris Stokel-Walker / Wired:
Abner Li / 9to5Google: