Supply Constraints Hurt Apple’s Revenue
CEO Tim Cook said “supply constraints” caused by chip shortages and Covid-related manufacturing disruptions had reduced revenue by $6 billion, or 7%.
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Oculus VR Brand Name to Be Retired as Facebook Adopts Meta
The company will gradually rebrand products like the Oculus Quest to the Meta Quest in 2022.
TikTok Taps Former Amazon Exec to Target Major Advertisers
The company is building an ad sales team to focus on Fortune 100 marketers.
Shopify Revenue Grows 46% in Q3
The Canadian tech giant is seeing a growth slowdown as more customers return to shopping in physical stores.
Comcast Touts Smart TVs, Peacock Who?
The company hardly mentioned its Peacock video streaming service on its earnings call, instead focusing on its new push into smart TVs.
Samsung Reports Record Quarterly Revenue on Strong Chip Demand
The South Korean tech giant also warned that its chip demand in the fourth quarter could be affected by component shortages at some customers.
China Clamps Down on Spam Ahead of Singles Day Online Sales
The government told China’s e-commerce sites to curb text messaging ahead of the Nov. 11 sales day.
Spotify Reports Strong Growth in Ad Revenues
Spotify experienced little impact from the double whammy of Apple’s ad-tracking changes, and supply shortages, which affected ad-based digital firms like Snap.
Rent the Runway Drops Nearly 10% On Closing
The online apparel rental service's public market debut signals strong investor demand for its stock. But how well Rent the Runway does in the long haul depends on which e-commerce sector investors group the company in.
WSJ: FTC Examining Facebook Disclosures
The Wall Street Journal said Federal Trade Commission is looking into whether internal research shows that Facebook violated a 2019 settlement with the agency over privacy issues.
U.S. Bans China’s largest Telecom Operator From Providing Service in the U.S.
The FCC said China Telecom posed a national security risk because it is under the government’s control.
Waymo, Nuro Veteran Dan McCloskey Joins London-based AV Startup Wayve
tthe firm will begin a pilot with U.K. grocery delivery firms Ocado and Asda next year.
Alphabet Earnings Bolstered by Retail Spending As Stores Reopen
Retail, travel, and media spending on advertising bolstered the company’s core search and ads business in the third quarter
Microsoft Tops $20 Billion in Quarterly Profit for First Time
Sales of Office, Windows and LinkedIn products remained strong during the quarter, reflecting Microsoft's positioning as a remote work company.
Twitter’s Revenue Growth Slows in Q3
Twitter reported that its average daily active user rose 13% but most of that growth is occurring internationally, which accounts for a minority of the company's ad revenue.
AWS Lands Major Cloud Deal With British Spy Agencies
The deal, worth up to $1.4 billion over the next decade, shows how AWS is looking to expand its cloud market dominance in Europe.
Sequoia Overhauls Fund Structure to Hold Public Stocks
Under the change, a new vehicle called the Sequoia Fund would hold public stock and be the sole limited partner to the existing venture funds.
Epic Taps Facebook Exec to Help Metaverse Effort
The gaming company has hired Matthew Henick, former v.p. of content at Facebook, to help develop the company's metaverse strategy.
Execs from TikTok, Snap, YouTube Testify At Hearing on Youth Safety
It is the first time executives from Snap and TikTok have testified on Capitol Hill.
Weekday mornings
The Information AM by The Information Staff
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