May 5, 2023, 1:05 PM

Top News

Apple reports Q2 revenue down 3% YoY to $94.84B, declining for a second quarter in a row but beating estimates of $92.96B, and net income down 3% YoY to $24.16B  —  Services revenue reaches new all-time high iPhone revenue sets March quarter record  —  CUPERTINO, CALIFORNIA Apple today …
Kif Leswing / CNBC:
Apple Q2 revenue: iPhone up 2% YoY to $51.33B, Mac down 31% YoY to $7.17B, iPad down 13% YoY to $6.67B, and Wearables, Home, and Accessories down 1% to $8.76B  —  - Apple reported second-fiscal quarter earnings on Thursday that beat Wall Street's soft expectations for sales and revenue …
Yifan Yu / Nikkei Asia:
Todd Spangler / Variety:
Joseph Menn / Washington Post:
A judge sentences ex-Uber CSO Joe Sullivan to three years of probation; he was convicted in October 2022 for not disclosing a 2016 data breach to regulators  —  The first corporate executive convicted of a crime related to a data breach by outsiders is sentenced to probation and fined
Source: a leaked April 2023 internal document by Luke Sernau, a senior software engineer at Google, argues that open source AI will outcompete Google and OpenAI  —  A senior software engineer at Google wrote a critique asserting that the internet search leader is losing its edge …
Eric Berger / Ars Technica:
Airbus, Eutelsat, SES, Thales, and other European satellite companies plan to bid for the IRIS² satellite constellation, hoping to rival SpaceX's Starlink  —  The bid includes large players such as Airbus Defence and Space, Eutelsat, and SES.  —  A consortium of nearly every major …
Catherine Shu / TechCrunch:
Jakarta-based Praktis, which provides end-to-end supply chain software for D2C brands, raised a $20M Series A led by East Ventures  —  Small to medium-sized enterprises contribute 60% of Indonesia's gross domestic product.  But companies in the D2C space still struggle to compete against bigger brands.
Alex Konrad / Forbes:
A look at the ByteDance investors who have billions in paper profits blocked by the US regulatory standoff over TikTok; source: Sequoia China holds a 10%+ stake  —  The world's most valuable startup does more than any other investment to put VCs on the Forbes Midas List, including its No. 1.

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