Amazon Reports Retail Surge, Says Pandemic Investments to Eat Profits
Amazon saw a huge increase in retail sales as more people shop online, but warned that Covid 19-related investments will wipe out second quarter profits.
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Quibi Execs Admit Rough Launch Timing
Downloads have looked strong in the first few weeks, but with high costs the company needs to get paying subs quickly
Blue Origin, SpaceX Tapped by NASA to Build Moon Landers
Companies owned by Bezos and Musk will compete to build lander slated for 2024 trip to the moon.
Apple Executive Joins Biden Effort to Find Running Mate
Apple's Cynthia Hogan is the only member of the vetting committee who is not a politician.
Zoom Video Restated User Numbers
Zoom's stock fell nearly 7% after the correction, which raises questions about how the videoconferencing service measures its usage.
Andreessen Horowitz Raises $515 Million for New Cryptocurrency Investments
It's the second such fund for the venture capital firm, one of the early institutional investors in the digital currency and related businesses.
AT&T Merges Ad Tech Unit With WarnerMedia
The move raises questions about the future of the ad tech unit.
Travel Firms Seek Refunds on Google Ads
The eight companies spent more than a combined $80 million on Google ads in the first quarter.
Comcast’s Video Subscriber Losses Accelerate in First Quarter
The cable giant anticipates an increase in declines in video subscribers due to the economic downturn.
Twitter Sees Record User Growth, Warns of Sustained Revenue Plunge
Twitter set a new record with 24% user growth last quarter. But a late-quarter plunge in ad revenue indicated that the worst is yet to come.
SoftBank Revises Forecast, Predicts Wider Loss on WeWork
Investors appear to have already priced in the pain before the revision, with shares of SoftBank ending a tad up for the day in Tokyo despite the news.
Microsoft: Covid-19 Having ‘Minimal’ Business Impact
Microsoft's cloud services and applications businesses saw significant growth during its fiscal third quarter, but Surface sales saw a surprising decline.
Lime Plans to Lay Off Up to 190 People
It would take Lime's total number of layoffs to about 300 people since January, representing about half the company.
Tesla’s Surprise First-Quarter Profit Boosts Shares
Tesla actually burned $900 million in cash in the quarter, but its sale of regulatory credits helped the carmaker book a net profit.
Facebook Reports Surge in New Users, ‘Steep’ Pullback in Ad Sales
The social media giant reported almost 3 billion users across its suite of apps, but warned that ad revenue growth has been flat this month.
Google to Make ‘Meet’ Video Tool Free for All
Earlier this month, Google’s videoconferencing tool changed its name to “Meet” and updated its layout to mimic its rival Zoom.
Former Warner Music CEO Bronfman Takes Reins at FuboTV
Bronfman's move is the latest twist for fuboTV, a sports-heavy streaming service that had struggled to attract subscribers and was acquired recently by a company called FaceBank.
Trump Administration Puts Amazon’s Foreign Sites on ‘Notorious Markets’ List
The Trump administration made good on a threat to add five of Amazon's foreign sales sites to a list of markets known for piracy.
Juul Plans to Lay Off Nearly 1,000 Employees
The layoffs, which haven’t been finalized, would be the second major round of cuts in the last six months for the San Francisco-based company.
Warren, Ocasio-Cortez Call for Merger Ban During Covid-19 Crisis
Progressive Democrats worry that big companies will increase their market power by swallowing struggling companies during the economic downturn.
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.
By providing your email, you agree to The Information’s Privacy Policy