Bloomberg:
Sea reports Q3 revenue up 31% YoY to $4.3B and a $153.3M net income, above estimates and up from a $144M loss in Q3 2023; SE rises 5%+ pre-market — Shares of Sea rose about 7% in pre-market US trading after net income for the company as a whole topped estimates at $153.3 million.
Meta plans to ask Facebook and Instagram users in Europe if they want to get “less personalized ads” and cuts subscription prices by 40%, a concession to the EU (Wall Street Journal)
Wall Street Journal:
Meta plans to ask Facebook and Instagram users in Europe if they want to get “less personalized ads” and cuts subscription prices by 40%, a concession to the EU — Facebook and Instagram owner faces pressure in Europe to ask users before using their data to target ads or train artificial intelligence
Nvidia launches its Nvidia app for Windows, designed to overhaul and replace the GeForce Experience app, after a beta earlier in 2024 (Tom Warren/The Verge)
Tom Warren / The Verge:
Nvidia launches its Nvidia app for Windows, designed to overhaul and replace the GeForce Experience app, after a beta earlier in 2024 — Nvidia is officially launching its Nvidia app on PC today, designed to overhaul and replace the GeForce Experience app.
Shopify reports Q3 revenue up 26% YoY to $2.2B, above $2.12B est., GMV up 24% YoY to $69.7B, projects Q4 revenue growth above est.; SHOP jumps 13%+ pre-market (Spencer Soper/Bloomberg)
Spencer Soper / Bloomberg:
Shopify reports Q3 revenue up 26% YoY to $2.2B, above $2.12B est., GMV up 24% YoY to $69.7B, projects Q4 revenue growth above est.; SHOP jumps 13%+ pre-market — Revenue for the period rose about 26% to $2.16 billion, the company said in a statement Tuesday, beating the $2.12 billion average estimate of analysts surveyed by Bloomberg.
The EU notifies Apple of “potentially prohibited geo-blocking practices” on the App Store and other apps, and says it must align with EU anti-geo-blocking rules (Gian Volpicelli/Bloomberg)
Gian Volpicelli / Bloomberg:
The EU notifies Apple of “potentially prohibited geo-blocking practices” on the App Store and other apps, and says it must align with EU anti-geo-blocking rules — Apple’s App Store, iTunes Store and other media services unlawfully discriminate against European customers based …
Alibaba, JD, and Xiaomi report Singles’ Day sales numbers they say make the shopping event one of the most productive yet, as China’s economy continues to sag (Bloomberg)
Bloomberg:
Alibaba, JD, and Xiaomi report Singles’ Day sales numbers they say make the shopping event one of the most productive yet, as China’s economy continues to sag — – Data shows sales surged, but over a much longer period — Analysts warn shoppers still show signs of moderated spending
Baidu unveils smart glasses powered by its Ernie LLM that aim to “become a private assistant” by tracking calories, playing music, and more, launching in 2025 (Eleanor Olcott/Financial Times)
Eleanor Olcott / Financial Times:
Baidu unveils smart glasses powered by its Ernie LLM that aim to “become a private assistant” by tracking calories, playing music, and more, launching in 2025 — Launch comes as Chinese internet groups jostle for dominance in hardware — Baidu has unveiled artificial intelligence …
Analysts: Nintendo and Sony are heading into the holiday season with little to offer consumers; the Switch is now seven years old and $700 PS5 Pro is overpriced (Financial Times)
Financial Times:
Analysts: Nintendo and Sony are heading into the holiday season with little to offer consumers; the Switch is now seven years old and $700 PS5 Pro is overpriced — Video game industry fears its most important quarter will fall flat with few new mass-market offerings
SoftBank says Vision Fund co-CEO Rajeev Misra will step down from his leadership roles; during his 10-year tenure, he led investments in WeWork, Wag, and others (Manish Singh/TechCrunch)
Manish Singh / TechCrunch:
SoftBank says Vision Fund co-CEO Rajeev Misra will step down from his leadership roles; during his 10-year tenure, he led investments in WeWork, Wag, and others — SoftBank said the co-CEO of Vision Fund, Rajeev Misra, will soon step down from his leadership roles at the bank’s flagship …
SoftBank reports Q2 net income of ~$7.7B and a Vision Fund gain of ~$2.42B, driven by strong Indian IPOs and valuation gains in startups like Coupang and Didi (Bloomberg)
Bloomberg:
SoftBank reports Q2 net income of ~$7.7B and a Vision Fund gain of ~$2.42B, driven by strong Indian IPOs and valuation gains in startups like Coupang and Didi — – Vision Fund gets boost from bets on Didi and Coupang — Legacy-conscious founder Masayoshi Son is readying next gamble
