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August 2, 2024, 5:35 AM
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Top News

Apple Inc.:
Apple reports Q3 revenue up 5% YoY to $85.8B, net income up 8% to $21.4B, Americas net sales up 6% to $37.7B, and Europe net sales up 8% to $21.9B  —  June quarter records for Revenue and EPS Services revenue reaches new all-time high  —  Apple® today announced financial results …
Kif Leswing / CNBC:
Apple Q3 revenue: iPhone down 1% YoY to $39.30B, Mac up 2% YoY to $7.01B, iPad up 24% YoY to $7.16B, and Wearables, Home, and Accessories down 2% YoY to $8.10B  —  Apple reported fiscal third-quarter earnings on Thursday that beat Wall Street expectations, with overall revenue rising 5%.
Dean Takahashi / VentureBeat:
Intel plans to cut 15%+ of its workforce, the majority by the end of 2024, as part of a $10B cost reduction plan and to suspend its dividend starting in Q4 2024  —  Intel announced that it will lay off 15% of its workforce as part of a broad cost-reduction program.
Jordan Novet / CNBC:
Intel reports Q2 revenue down 1% YoY to $12.8B, vs. $12.9B est., Data Center and AI down 3% YoY to $3B, and gives light Q3 guidance; INTC drops 17%+ after hours  —  Intel shares slid as much as 20% in extended trading on Thursday after the chipmaker said it would lay off over 15% of its employees …
Amazon.com, Inc.:
Amazon reports Q2 revenue up 10% YoY to $148B, a $13.5B net income, vs. $6.7B YoY, $14.7B operating income, vs. $7.7B YoY, subscription sales up 10% to $10.9B  —  Amazon.com, Inc. (NASDAQ:AMZN) today announced financial results for its second quarter ended June 30, 2024.
Bill Toulas / BleepingComputer:
Infoblox and Eclypsium: since 2018, Russian hackers hijacked 35K+ registered domains using Sitting Ducks attacks that involve exploiting DNS configuration flaws  —  Threat actors have hijacked more than 35,000 registered domains in so-called Sitting Ducks attacks that allow claiming …
Paul Alcorn / Tom's Hardware:
Intel extends the warranty for its boxed Core 13th and 14th Gen desktop processors by an additional two years, due to customers experiencing instability issues  —  Trying to build goodwill.  —  Intel told us today that it will extend the warranty on its boxed Intel Core 13th- and 14th-Gen processors by two additional years.
Bill Donahue / Billboard:
Court filings: AI startups Suno and Udio respond to copyright lawsuits from major music labels, saying their use of proprietary music to train AI is fair use  —  In their first responses to the sweeping copyright lawsuits that could define AI music, lawyers for Suno and Udio don't exactly hold back.
Jordan Novet / CNBC:
In its annual report, Microsoft adds OpenAI as a competitor in AI offerings and search and news advertising; OpenAI unveiled its prototype SearchGPT last week  —  Microsoft's relationship with OpenAI has officially become more complicated.  —  On Tuesday, Microsoft added …
Chance Miller / 9to5Mac:
Apple files a motion to dismiss the US DOJ's antitrust lawsuit, arguing the lawsuit has not demonstrated anticompetitive conduct and would harm innovation  —  Apple has officially filed a motion to dismiss the Department of Justice's antitrust lawsuit filed in May. Apple argues the case …
Bill Peters / MarketWatch:
Coinbase reports Q2 revenue up 105% YoY to $1.45B, vs. $1.39B est., a $36.2M net income, and forecasts subscription and services Q3 revenue below expectations  —  Stock is still up this year, as investors digest the prospect of easing regulations  —  Coinbase Global Inc. on Thursday reported …
Josh Sisco / Politico:
Sources: the US DOJ is investigating Nvidia's acquisition of Israeli AI infrastructure orchestration and management service Run:ai on antitrust grounds  —  The investigation adds to the global pressure by regulators to prevent control of artificial intelligence by just a handful of the world's largest technology companies.
The Canadian Press:
Study: a year after Meta blocked news content in Canada due to the Online News Act, Canadians' total engagement with news content on social media is down 43%  —  Canadian news struggling after Meta ban: study  —  MONTREAL - A new study is painting a grim portrait of how local Canadian news outlets …
Arjun Kharpal / CNBC:
Nintendo reports Q1 revenue down 46.5% YoY to ~$1.65B, vs. ~$1.92B exp., net profit down 55.3% YoY to ~$536M, and Switch sales down 46% YoY to 2.1M units  —  Nintendo on Friday reported revenue and profit that plunged in the company's fiscal first quarter, as sales of the ageing Switch console decline.
Mayumi Negishi / Bloomberg:
A Holdings Corp., a holding company owned equally by SoftBank and Naver, plans to sell down its stake in LY's ~$1B tender; LY operates Line messaging app  —  A Holdings Corp., a holding company owned equally by Japan's SoftBank Corp. and South Korea's Naver Corp., plans to sell down its stake …
More: Reuters
Zac Hall / 9to5Mac:
The Twitter for Mac app appears to have been delisted from the App Store; some users say their X accounts were suspended after using the X for iPad app on macOS  —  As noted by Vedant, the official Twitter for Mac app is currently missing from the Mac App Store.

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From Mediagazer

Todd Spangler / Variety:
DirecTV files FCC complaint, accusing Disney of bad faith negotiations and trying to block DirecTV from taking legal action against its anticompetitive demands

New York Times:
Insiders detail how Bob Iger undermined and outmaneuvered Bob Chapek and returned to power at Disney, as the question of how Iger misjudged Chapek still lingers

Kadia Goba / Semafor:
Sources: some conservative influencers, who participated anonymously in a mysterious network, were recently paid over $20K to spread sexual smears of VP Harris

More News

David Shepardson / Reuters:
A US appeals court blocks the FCC's reinstatement of net neutrality rules, saying broadband providers are likely to succeed in a legal challenge
Akash Sriram / Reuters:
Snap reports Q2 revenue up 16% YoY to $1.24B vs. $1.25B est., DAUs up 9% YoY to 432M, and forecasts Q3 revenue below expectations; SNAP drops 15%+ after hours

Earlier Picks

Associated Press:
A Montenegro appeals court upholds a ruling to hand over Terraform Labs co-founder Do Kwon to South Korea, rejecting a bid to extradite him to the US
CyberScoop:
The US releases Russian cybercriminals Roman Seleznev and Vladislav Klyushin as part of a prisoner swap that freed 16 people from Russia
Ivan Mehta / TechCrunch:
Google unveils AI features for Chrome on desktop, including support for Google Lens and searching history via natural language queries, rolling out in the US
Brian Steinberg / Variety:
WBD, Disney, and Fox plan to launch their joint sports streaming venture Venu for $42.99 per month initially, with a seven-day free trial, expected in fall 2024
Alex Heath / The Verge:
On Meta's earnings call, Mark Zuckerberg said Llama 4 will need almost 10x more compute to train than Llama 3.1, Quest 3 sales exceeded expectations, and more
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