Mediagazer: Amazon Q3: revenue up 11% YoY to $158.9B, a $15.3B net income vs. $9.9B in Q3 2023, a $17.4B operating income vs. $11.2B in Q3 2023; AMZN jumps 5%+ after hours (Amazon Inc.)

4:45 PM ET, October 31, 2024

Top News:

Jennifer Maas / Variety:

Amazon reports Q3 ad revenue up 19% YoY to $14.33B, vs. $14.25B estimated, amid the company's push to insert ads into Prime Video — Amazon reported its third-quarter 2024 earnings, revealing ad sales rose 19% year over year amid the company's push to insert ads into Prime Video.

Discussion: Forbes, Deadline, CNBC and Benzinga, more at Techmeme »

Amazon Inc.:

Amazon Q3: revenue up 11% YoY to $158.9B, a $15.3B net income vs. $9.9B in Q3 2023, a $17.4B operating income vs. $11.2B in Q3 2023; AMZN jumps 5%+ after hours — Amazon.com, Inc. (NASDAQ:AMZN) today announced financial results for its third quarter ended September 30, 2024.

Discussion: GeekWire and Cord Cutters News, more at Techmeme »

Annie Palmer / CNBC:

Amazon reports Q3 AWS revenue up 19% YoY to $27.5B and AWS operating income of $10.4B, up from $7B in Q3 2023, and subscription sales up 11% to $11.3B — - CNBC Councils — CNBC on Peacock — Join the CNBC Panel — Supply Chain Values — Select Shopping — Ad Choices

Discussion: The Wrap, The Information, Yahoo Finance and GeekWire, more at Techmeme »

Steven Waldman / Columbia Journalism Review:

Jeff Bezos should donate The Washington Post to a public charity that maintains its quality and independence, as he is too financially compromised to own it — His conflicts of interests are insurmountable. He can take a heroic path to strengthen journalism.

Oliver Darcy / Status:

Sources: potential buyers line up in case Jeff Bezos ever sells WaPo, including Kara Swisher, who would assemble investors and seek to merge it with Vox Media — Potential suitors for The Washington Post are eagerly positioning themselves, waiting for the day in which Jeff Bezos might choose …

Discussion: TVNewsCheck, KHOU-TV, @craig.forman@threads.net, Politico, @oliverdarcy@threads.net, @wagatwe.com and @oliverdarcy.bsky.social

Sarah Scire / Nieman Lab:
A broad group of news outlets attracted new subscribers after WaPo's lack of an endorsement for president; The Philadelphia Inquirer gained 4,200+ subscribers

Discussion: SFGATE, Washington Post, Emi Kolawole on LinkedIn, @wdlindsy@toad.social, Poynter, Just Security, Digiday, Evan Benn on LinkedIn, Foreign Policy, The Free Press, CNN, @davidakin@mstdn.ca, New York Post, Press Gazette and NPR

Dade Hayes / Deadline:

In its Q3 earnings call, Comcast CEO Mike Cavanagh says the company is weighing spinning off its cable networks and open to “partnerships in streaming” — Comcast President Mike Cavanagh delivered an eye-opening update to investors on this morning's third-quarter earnings call …

Discussion: Wall Street Journal, StreamTV Insider, Variety, New York Post, TVNewsCheck, MediaPost, Radio Ink, The Hollywood Reporter, @acrostical.bsky.social, @bristei, New York Times, Advanced Television, Adweek, Axios, WORLD SCREEN and CNBC

Georg Szalai / The Hollywood Reporter:
Comcast reports Peacock's Q3 losses fell to $436M, down from $565M in Q3 2023, revenue rose 82% YoY to $1.5B, and subscribers rose 3M from June to 36M

Discussion: TVNewsCheck, The Desk, Deadline, Streaming Better, The Wrap, Benzinga, Media Play News, The Streamable, Cord Cutters News, IndieWire and Variety

Lillian Rizzo / CNBC:
Comcast reports Q3 net income down 10% YoY to $3.63B and revenue up 6.5% YoY to $32.07B; revenue for media, mainly composed of NBCU, rose 37% YoY to $8.23B

Discussion: Motley Fool, MediaPost, Sportico, The Streamable, Light Reading, The Information, Cord Cutters News, Tv Technology, Bloomberg, Reuters and Barron's Online

Shirin Ghaffary / Bloomberg:

OpenAI unveils ChatGPT Search to let users search for timely information using GPT-4o, after testing the feature in July 2024, a direct challenge to Google — The new option will let the chatbot's users search for timely information much as they would on the web.

Discussion: Adweek, Reuters, TechCrunch, Fast Company, Gizmodo, Yahoo Finance, Forbes, MarTech, Eric Herbel on LinkedIn, VentureBeat, Quartz, Ars Technica, The Information, Wired and CNBC, more at Techmeme »

Gerrit De Vynck / Washington Post:

OpenAI says ChatGPT Search draws on articles from the WSJ and others it has deals with, and will direct election-related queries to sources like AP and Reuters — The artificial intelligence developer's chatbot can now search and summarize the web. — SAN FRANCISCO — Artificial intelligence …

Discussion: Fast Company, Android Authority, 9to5Mac, BGR, GeekWire, 9to5Google, Engadget, The Verge, Financial Times, Android Authority, Search Engine Land, VentureBeat and DNyuz, more at Techmeme »

Kali Hays / Fortune:

Internal memo: Block CEO Jack Dorsey says Tidal is in for another mass layoff; insiders say as many as 100 people could be laid off, or ~25% of Tidal's staff — Block CEO and founder Jack Dorsey wants streaming music app Tidal to operate like a startup again - and that means layoffs

Discussion: Music Business Worldwide, CMU, The Verge, @7sleepersmusic@mastodon …, @Jeremiah@alpaca.gold, Music Ally, Billboard, @kalihays1@threads.net, Digital Music News, Entrepreneur, Engadget, San Francisco Chronicle and Benzinga, more at Techmeme »

John O'Nolan:

Ghost's CEO details the organization's governance structure and says the open-source CMS generates ~$7.5M in annual revenue and has been profitable for 12 years — Ghost is a distributed non-profit foundation which gives away all of its intellectual property under a permissive MIT license.

Discussion: @markjaquith, @johnonolan, @drdevroy, @duanestorey, @dangillmor@mastodon.social, @ianb@mastodon.well.com, @quillmatiq@threads.net, @dvdwinden@threads.net, @prschulz@threads.net, Erik Enge on LinkedIn and @ben@werd.social, more at Techmeme »

ProPublica:

An investigation finds eight deceptive operations on Meta's platforms that collectively controlled 340+ Pages and placed 160K ads to collect users' information — Co-published with Tow Center for Digital Journalism — Deceptive Political Ads: Eight deceptive advertising networks …

Discussion: Forbes, Gizmodo, Marketing Dive, Craig Silverman on LinkedIn, Tech Transparency Project, @craigsilverman@mastodon …, @ProPublica@newsie.social, @KimPerales@toad.social and AdExchanger, more at Techmeme »

Nico Grant / New York Times:

Media Matters: from May to August 2024, the top 30 conservative YouTube channels posted 286 videos containing US election misinformation, racking up 47M+ views — In June 2023, YouTube decided to stop fighting the most persistent strain of election misinformation in the United States …

Discussion: Reclaim The Net and Media Matters for America, more at Techmeme »

Andrew Webster / The Verge:

Disney+ rolls out a top 10 list on the app's home screen, in line with Netflix, Max, Apple TV+, and Prime Video — As Disney Plus has grown, finding things to watch has become increasingly challenging. So the streaming service is rolling out a top 10 list featured on the home screen in hopes of improving discoverability.

Discussion: Decider, BGR and The Walt Disney Company

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Dominic Ponsford / Press Gazette:
Guardian Media Group CEO Anna Bateson shares details of Tortoise Media's bid for The Observer and says “difficult decisions” are ahead if the deal falls through

Discussion: Press Gazette, New Statesman and Sky News

@baltsunguild:
The Baltimore Sun Guild's news members plan a byline strike November 3-10, citing sliding journalistic standards and union-busting proposals from management

Discussion: @baltsunguild and r/Journalism

Charlotte Tobitt / Press Gazette:
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Discussion: Financial Times, GB News, OK!, Deadline, The Sun, ofcom.org.uk, Telegraph, City A.M., Sky News, The Guardian, Variety, The Media Leader, The Mirror and Politics.co.uk

Meta Investor Relations:
Meta reports Q3 revenue up 19% YoY to $40.59B, net income up 35% to $15.69B, and family daily active people up 5% to 3.29B on average for September 2024

Discussion: @munster_gene, @rpn@threads.net, @lanceulanoff@threads.net, @mikeisaac, Music Ally, Quartz, @lexnfx, @firstadopter, Associated Press, New York Times, Reuters, Fortune, The Times, The Information and Deadline, more at Techmeme »

Mia Sato / The Verge:
Fox, ABC, and others are broadcasting graphic and hateful ads paid for by political candidates during the World Series; the FCC requires stations accept the ads

Discussion: Advocate

Andrew Webster / The Verge:
Nintendo launches Nintendo Music, an iOS and Android app that lets Switch Online subscribers stream or download gaming tunes from Nintendo titles

Discussion: UPROXX, CNET, Android Authority, SamMobile, DNyuz, Music Ally, Engadget, Ars Technica, Screen Rant, Gizmodo, Digital Trends, Deseret News, Digital Music News, 9to5Google, Variety, BGR and Comic Book, more at Techmeme »

Earlier Picks:

Ben Strauss / Washington Post:
A look at the feud over NFL reporters talking to players in locker rooms, after the players union cut off long-accepted access, calling the practice “outdated”

Discussion: Awful Announcing, @benjstrauss and Associated Press

Committee to Protect Journalists:
Journalists and experts explain why 2024 has been dangerous for press in Pakistan, with at least six journalists killed over direct or suspected work ties

Discussion: Al Jazeera, Civil Georgia, @sonalidhawan_, CBS News, Voice of America and Reuters

Corbin Bolies / The Daily Beast:
Dozens of NYT Tech Guild members picketed on Wednesday, protesting drawn-out contract negotiations and raising the possibility of an Election Day strike

Discussion: 6abc, @zohrankmamdani, @nytguildtech and @brndngrffth

Kyle Orland / Ars Technica:
How The New York Times used LLMs to help reporters sort through hundreds of hours of audio to report on the Republican-affiliated Election Integrity Project

Discussion: LinkedIn, Matthew S Smith on LinkedIn, New York Times, @mttaggart@infosec.exchange and @arstechnica@mastodon.social

Alexandra Canal / Yahoo Finance:
Roku reports Q3 revenue up 16% YoY to $1.06B, vs. $1.02B est., 85.5M streaming households, up 2M QoQ, and Q4 guidance below est.; ROKU drops 11%+

Discussion: Billboard, Benzinga, Streaming Better, Media Play News, The Hollywood Reporter and The Wrap

New Jersey Digest:
The Star-Ledger, New Jersey's largest newspaper, plans to end its print edition on January 30, 2025, citing growing costs and a shrinking demand for print

From Techmeme:

Kent Walker / The Keyword:
Google says the DOJ's “wildly overbroad proposal goes miles beyond the Court's decision”, would hurt US consumers, and jeopardize the US' global tech leadership

Paige Smith / Bloomberg:
The CFPB will supervise tech companies with digital wallets, like Apple Pay, Google Pay, and Venmo, with 50M+ annual transactions, treating them more like banks

Jay Peters / The Verge:
Adam Mosseri says Threads is rebalancing ranking to prioritize content from people that users follow, warns that creators' “unconnected” reach may go down

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