The sudden collapse of Silicon Valley Bank has put more than a quarter of Roku’s cash at risk. The streaming company had $487 million, representing 26 percent of its cash, in Silicon Valley Bank, the company disclosed in an SEC filing Friday.
Yuji Naka has pleaded guilty to insider trading charges filed last fall. The Sonic the Hedgehog co-creator has admitted to violating Japanese financial law by buying shares in the game studio Aiming before its team-up with Square Enix on Dragon Quest Tact became public.
Microsoft has reportedly cleared a major regulatory hurdle as it tries to move toward finalizing its Activision Blizzard purchase. The company’s licensing offers to competitors are expected to appease European Union (EU) antitrust concerns about the $69 billion acquisition, according to Reuters.
Paramount+ will get a bit more expensive later this year as it folds in Showtime's streaming service.
As many Apple watchers have predicted, the company's financial results this quarter are a break from the last few years of nonstop growth. The iPhone maker reported a revenue of $117.2 billion for its first fiscal quarter (ended December 2022), which is five percent down year over year, marking the first time Apple's revenue is down since 2019.
It's no secret that the huge tech companies are still making money hand over fist, but there's also a noticeable slowdown going on. Google's parent company Alphabet is not immune — the company just reported its earnings results for Q4 of 2022, and just barely grew revenue year over year. The $76 billion the company pulled in during the quarter is up only one percent from Q4 of 2021.
Almost 20 years in, Facebook is still growing. The social network now has 2 billion daily active users, Meta reported alongside its fourth-quarter earnings. The report marks the first time Facebook, which added 16 million users last quarter, has reached 2 billion daily users.
Electric vehicle maker Rivian is laying off another six percent of its workforce. The company reduced its headcount by the same proportion of workers back in July.
PayPal is about to become the latest tech company to lay off a substantial part of its workforce. The payments firm announced Tuesday plans to cut approximately 2,000 employees, a number that equates to about seven percent of its total staff. According to PayPal president and CEO Dan Schulman, the layoffs will occur over the next few weeks, with some parts of the company affected more than others.