Samsung credits strong smartphone and mobile display sales for income growth
Samsung has been reporting steep profit declines and record-breaking losses over the past quarters, and while it has yet to go back to its previous numbers, it sounds optimistic for the future in its latest earnings report. The company credited the strong sales of its mobile flagship devices and its…
Mark Zuckerberg: Threads has ‘just under’ 100 million monthly active users
Meta’s increasingly aggressive push to promote Threads seems to be paying off. Mark Zuckerberg said the app currently has “just under” 100 million monthly active users, and that he thinks there’s a “good chance” the app could reach 1 billion users in the next couple of years. “I thought for…
Microsoft’s $68.7 billion purchase of Activision Blizzard finally gets UK approval
UK’s antitrust regulator has given Microsoft the green light to buy Activision Blizzard for $68.7 billion following a protracted back and forth. The regulator called Microsoft’s concession to sell cloud gaming rights to Ubisoft a “gamechanger that will promote competition.” With the last major obstacle out of the way, the…
NVIDIA records mega profits thanks to its AI chip business
If you’ve been wondering who’s making the most money from the AI boom, NVIDIA may have the answer in it’s latest earnings report. The company announced revenue of $13.51 billion in the second quarter, more than doubling the $6.7 billion it made last year and crushing market expectations. On top…
Intel walks away from its $5.4 billion takeover of Tower Semiconductor
After announcing the deal last year, Intel will no longer acquire Tower Semiconductor for $5.4 billion, the company announced in a press release. It was unable to “obtain in a timely manner the regulatory approvals required under the merger agreement” it wrote — specifically in China, according to Bloomberg. Tower…
PayPal introduces its own stablecoin that’s pegged to the US dollar
Almost three years after PayPal started supporting cryptocurrency for all US accounts, the fintech company has launched its own stablecoin that’s pegged to the US dollar. PayPal USD, the payment processor said, is “100 percent backed by US dollar deposits, short-term US Treasuries and similar cash equivalents.” The company first…
Nintendo sees record first quarter profit thanks to Zelda and the Mario movie
Nintendo just announced its highest first quarter profit ever thanks to sales of The Legend of Zelda: Breath of the Wild and The Super Mario Bros. Movie. The company earned 185.44 billion yen ($1.3 billion) on sales of 461.34 billion yen ($3.2 billion), easily battering its previous fiscal Q1 record…
Samsung blames Q3’s drop in revenue to decline in smartphone shipments
Samsung has reported KRW 0.67 trillion ($527 million) in operating profit for the second quarter of 2023, which is just slightly higher than last quarter’s, thanks to its memory business posting a narrower loss. That figure is also, however, much, much smaller than the KRW 14.1 trillion ($10.8 billion) operating…
Meta had its best quarter since 2021 despite losing more money on the metaverse
Meta just had its best quarter since 2021, even as it continues to lose massive amounts of money on the metaverse. In fact, the company said it expects to lose even more money on its efforts in the year to come. Reality Labs, the Meta division overseeing its virtual and…
ASUS will manufacture and develop new Intel NUC mini PCs
Intel has announced ASUS as the company’s first partner for its Next Unit of Compute (NUC) mini PC business. The two companies have entered a non-binding agreement that will see ASUS manufacture, sell and support the 10th- to 13th-generation products in Intel’s NUC line. ASUS will also develop future NUC…