Techmeme
October 27, 2023, 6:05 AM

Top News

Amazon:
Amazon reports Q3 revenue up 13% YoY to $143.1B, net income up 244% to $9.9B, operating income up 343% to $11.2B, and subscription revenue up 14% to $10.2B  —  Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its third quarter ended September 30, 2023.
Annie Palmer / CNBC:
Amazon Q3: ad services revenue up 26% YoY to $12.1B, vs. $11.6B est., North American sales up 11% YoY to $87.9B, and International sales up 16% YoY to $32.1B  —  - Amazon blew past analyst expectations for revenue and earnings in the third quarter.  — Revenue climbed 13% in the third quarter …
Jordan Novet / CNBC:
AWS Q3: sales up 12% YoY to $23.06B, vs. $23.2B est., operating income up 29% YoY to $6.98B, vs. $5.63B est., operating margin of 30.3%, the widest in two years  —  - Amazon Web Services widened its operating profit margin, delivering higher operating income than expected, but revenue came in a bit light.
Financial Times:
In a testimony without the jury present, SBF says he followed the counsel of lawyers to make critical decisions around passing FTX customer money to Alameda  —  Former crypto billionaire blames lawyers as court hears first snippets of testimony without jury present
Bloomberg:
A recap of FTX co-founder Sam Bankman-Fried's testimony at his own criminal fraud trial in NYC over the collapse of his cryptocurrency exchange  —  Welcome to TOPLive.  FTX co-founder Sam Bankman-Fried is taking the witness stand at his own fraud trial in New York over the collapse of the cryptocurrency exchange.
Ionut Ilascu / BleepingComputer:
Microsoft publishes a profile of Octo Tempest, a “dangerous” hacking group targeting organizations across tech, gaming, financial services, and other sectors  —  Microsoft has published a detailed profile of a native English-speaking threat actor with advanced social engineering capabilities …
Tom Warren / The Verge:
Microsoft reorganizes its Xbox teams, promoting Matt Booty to game content president and Sarah Bond to Xbox president; CMO Chris Capossela leaves after 32 years  —  Microsoft is reorganizing its Xbox gaming and marketing leadership, less than two weeks after acquiring Activision Blizzard.
Kyle Wiggers / TechCrunch:
OpenAI forms Preparedness, a new team to assess, evaluate, and probe AI models to protect against “catastrophic risks”, including biological and nuclear threats  —  OpenAI today announced that it's created a new team to assess, evaluate and probe AI models to protect against what it describes as “catastrophic risks.”
Kirsten Korosec / TechCrunch:
Cruise pauses all driverless operations two days after the California DMV suspended its permits, but will continue operating supervised autonomous vehicles  —  Cruise said Thursday evening it has paused all driverless operations, a decision that comes just two days after the California Department …
Chavi Mehta / Reuters:
Intel reports Q3 revenue down 8% YoY to $14.2B, Data Center and AI Group revenue down 10% YoY to $3.8B, and forecasts Q4 revenue above estimates; INTC jumps 5%+  —  Intel (INTC.O) forecast fourth-quarter revenue above Wall Street estimates on Thursday, optimistic of a healthy rebound …
Wall Street Journal:
X's tumultuous first year under Elon Musk: mobile DAUs down 16% from October 2022 to September 2023, app downloads fell after X rebrand, and investor markdowns  —  The platform struggles to attract users and advertisers, third-party data suggest, while Musk has voiced optimism
Aisha Malik / TechCrunch:
Google rolls out new Google Maps features, including updating search to more easily find things nearby and expanding Immersive View for Routes to 15 new cities  —  Google is adding a slew of new updates for Maps, including a few AI-powered features that are designed to make it easier for users to search …
Casey Hall / Reuters:
Documents: Shein and PDD's Temu file joint declarations in the US to end their legal fights, asking judges to dismiss the cases “without prejudice”  —  Fierce rivals Shein and PDD Holdings-owned (PDD.O) Temu have applied to end their legal fights with each other in the U.S. …

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Earlier Picks

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Victoria Song / The Verge: