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October 27, 2022, 4:35 AM
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Meta reports Q3 revenue down 4% YoY to $27.7B, net income down 52% YoY to $4.4B, family daily active users up 4% YoY to 2.93B, staff up 28% YoY; stock down 20%+ — 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 in Q3 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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| Nick Statt / Protocol: |
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| 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 say 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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| 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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| Sohee Kim / Bloomberg: |
Samsung Electronics formally names de facto leader Jay Y. Lee executive chairman; his ascension had been delayed by graft investigations and two stints in jail — Samsung Electronics Co. named Jay Y. Lee executive chairman of South Korea's largest company, finalizing a long-anticipated elevation …
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| Steven Musil / CNET: |
| Mack DeGeurin / Gizmodo: |
The UK's ICO warns organizations about the risks of using “emotional analysis” tech, and plans to publish its biometric guidance in spring 2023 — The watchdog's deputy commissioner warned the tech wasn't backed by science and that any benefits were outweighed by the risks. — Alerts
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| 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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| Chance Miller / 9to5Mac: |
Apple patches a bug in iOS 16.1 and macOS Ventura that could let apps with Bluetooth access record user conversations with Siri without needing mic access — Apple released iOS 16.1 and macOS Ventura to the public this week. In addition to headlining new features and changes, there are also essential security fixes as well.
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| 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 … | David Gutman / The Seattle Times: |
A Washington judge fines Meta ~$24.7M, the maximum possible amount, after finding the company intentionally violated campaign finance disclosure laws 822 times — Meta, Facebook's parent company, was fined nearly $25 million Wednesday for intentionally and repeatedly violating Washington's campaign finance laws.
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| The Wire: |
The Wire apologizes, saying technical evidence should have been independently verified and that it was deceived “by a member of our Meta investigation team” — Last week, The Wire formally retracted its Meta stories after conducting an internal review of the technical source material used …
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