April 28, 2023, 8:05 AM

Top News

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  —, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2023.
Annie Palmer / CNBC:
Amazon reports Q1 ad revenue up 21% YoY to $9.5B, vs. $9.1B est., subscription revenue up 15% YoY to $9.7B, and North America segment sales up 11% YoY to $76.9B  —  - Amazon reported first-quarter sales on Thursday that beat analysts' estimates.  — The stock fell in extended trading …
The New York City MTA ends its Twitter service alerts, saying the platform is “no longer reliable” and that Twitter demanded $50K per month for API access  —  New York City's mass-transit system is ending its real-time service alerts on Twitter for subway, train and bus riders …
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.
Olga Kharif / Bloomberg:
A US federal judge orders South Africa-based bitcoin pool operator Mirror Trading's CEO to pay $3.4B after CFTC charged the company with a $1.7B fraud in 2022  —  A US judge has ordered a South African executive to pay more than $3.4 billion in restitution and fines for a fraud scheme involving Bitcoin …
Tom Warren / The Verge:
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” …
Aoyon Ashraf / CoinDesk:
Robinhood introduces Connect, which allows users to fund their Web3 wallets without having to leave a decentralized app or be in their Robinhood Crypto accounts  —  The feature, Robinhood Connect, is already available on several decentralized apps, with more to onboard in the coming months.
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” …
Blake Brittain / Reuters:
Filing: Triller agrees to pay Sony Music $4.5M+ to settle claims that Triller breached a contract covering its use of musicians' songs on the platform  —  TikTok rival Triller Inc has agreed to pay Sony Music Entertainment (6758.T) more than $4.5 million to resolve claims that Triller breached …
Mickey Djuric / Canadian Press:
Canada's Online Streaming Act passes a final Senate vote; the law will require streamers to support Canadian content and gives the CRTC regulatory power  —  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.
Rohan Goswami / CNBC:
Cloudflare reports Q1 revenue up 37% YoY to $290.2M vs. $290.8M est., a $38.1M net loss, and revenue guidance for Q2 and FY 2023 below estimates; NET drops 20%+  —  - Cloudflare issued muted guidance for the upcoming quarter and full-year that sent shares down as much as 25%
Viola Zhou / Rest of World:
A profile of Liu Xiaoping, a dog food seller on Pinduoduo who coaches Chinese merchants on using legal action to fight Pinduoduo's refund-without-return policy  —  A dog food seller known as “Lawsuit Bro” is leading the fight.  — A dog food seller on Pinduoduo has emerged as an unlikely hero …
Steve Dent / Engadget:
Sony reports 6.3M PS5 sales in Q4 2022, up from 2M in Q4 2021, taking FY 2022 to 19.1M and 38.4M since launch, and $29B revenue for FY 2022, up from $19.9B YoY  —  Now that it's solved its supply shortages, Sony is seeing a lot of pent-up demand for PlayStation 5 consoles.

Sponsor Posts
Free compensation benchmarking data from 3,000 startups  —  Search by job title and get FREE access to market pay data.  Paid version helps HR teams automate comp reviews and communicate total compensation to employees.
LLMs can label data as well as humans, but 100x faster  —  Looking to clean, label or enrich your data, but taking too much time?  Just describe your problem to our LLMs and let them do the work for you in minutes.
Give your startup an advantage with Mercury Raise  —  Building a successful company takes more than an idea — it takes the right connections, network, and guidance.  Mercury Raise gives you all three.
Productivity hacks for the always-on entrepreneur  —  As the needs of modern businesses continue to grow, entrepreneurs often find themselves juggling numerous tasks simultaneously.
Techmeme Ride Home:
Wed. 09/27 - The Big Amazon Lawsuit
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.

About This Page

This is a Techmeme archive page. It shows how the site appeared at 8:05 AM ET, April 28, 2023.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Kif Leswing / CNBC:
Aisha Malik / TechCrunch:
Andrea Vittorio / Bloomberg Law:

Earlier Picks

Leah Nylen / Bloomberg:
Wayne Ma / The Information:
Ingrid Lunden / TechCrunch:
Kwaku Gyasi / Bloomberg:
Cecilia D'Anastasio / Bloomberg: