Warner Bros. Discovery Writes Down $9.1 Billion, Suffers Steep Losses
The writedown plunged the company into a loss of $10 billion during its second quarter, compared to $1.2 billion a year earlier.
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Recent Editions
Shopify Stock Surges on Revenue Beat
Shopify shares were up more than 20% on Wednesday morning after the reported beating its own revenue outlook in the second quarter.
Lyft Reports Higher Revenue and Solid Profits
Lyft forecast slightly slower growth in gross bookings for the third quarter, sending its stock falling in preliminary trading.
Disney Turns a Profit in Streaming, Driven by ESPN+
The company also revealed in a securities filing that it could have to pay as much as $5 billion to Comcast for its 33% stake in Hulu.
Startup Accelerator Techstars Cuts 17% of Staff
The cuts, which haven’t been previously reported, mark the company’s second round of layoffs this year.
Airbnb Warns of U.S. Growth Slowdown
The forecast follows other consumer tech companies that have warned of cooler growth in the third quarter.
Reddit Reports 54% Revenue Growth in Q2
Reddit stock weakened in after-hours trading as investors responded to the company's projection for slightly slower growth in the third quarter.
Instacart Shares Surge on Higher Revenue
The grocery-delivery app saw its shares jump 8% after it reported better-than-expected revenue for the second quarter of 2024.
Amazon’s Top India Executive to Depart
Manish Tiwary has led the company’s India business since 2020 amid intensifying competition from Walmart-owned Flipkart and other local firms.
Disney to Raise Disney+ and Hulu Prices, Launch Streaming Channels
Disney+ and Hulu prices are about to go up starting this fall as Disney also announced new old-school TV-style channels for Disney+.
X Sues Ad Industry Group, Some Top Advertisers
X, formerly Twitter, has filed an antitrust lawsuit against some top advertisers and trade groups, claiming they conspired to make advertisers boycott the platform.
Axios Lays Off 50 People
Axios CEO Jim VandeHei said shifting reader habits, the loss of traffic from social and search platforms and the rise of AI are all impacting media firms' businesses.
Uber Posts Sharply Higher Profits
Uber's ride-hailing business is driving the company's growth as well as its profit expansion.
Google Loses Search Antitrust Case, Putting Lucrative Apple Deal in Jeopardy
The ruling by Amit Mehta of the U.S. District Court for the District of Columbia took aim at Google’s lucrative deal to preinstall its search engine.
OpenAI President Takes Extended Leave and Another Cofounder Departs
Also, product leader Peter Deng is out.
Elon Musk Sues OpenAI Again
Musk, now at the helm of rival xAI, again alleges that OpenAI's founders duped him when their OpenAI nonprofit accepted his donation.
Nvidia Shares Tumble After Report of Production Delay
The chip designer’s stock price has declined more than 20% since the height in mid-June
Moritz: Trump Supporters in Tech Are ‘Making a Big Mistake’
The billionaire becomes the latest tech heavyweight to enter the fight over presidential politics.
Delta Added to ‘Misleading Narrative’ Following Tech Outage, CrowdStrike Says
The cybersecurity company said it shouldn’t be blamed for the airline’s flight cancellations.
OpenAI Sued By YouTuber For Using Creators’ Videos Without Permission
A YouTuber is seeking to bring a class action lawsuit against OpenAI for scraping creators' videos to train the models that power its generative AI features.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
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