Darrell Etherington / TechCrunch: Meta says time spent on Instagram grew 24%+ since Reels launched thanks to AI recommendations, and expects Reels to be revenue-neutral by year end or early 2024  —  Meta shared some updated engagement info around its platforms on its Q1 2023 quarterly earnings call on Wednesday … Lees verder op Tech Meme

Jonathan Vanian / CNBC: Meta’s Reality Labs unit reports Q1 revenue down 51% YoY from $695M to $339M and operating loss up 35% YoY from $2.96B to $3.99B, after losing $13.72B in 2022  —  – Meta’s Reality Labs unit had a $3.99 billion operating loss in the first quarter, after losing $13.72 billion last calendar year. Lees verder op Tech Meme

Yuvraj Malik / Reuters: eBay reports Q1 revenue up 1% YoY to $2.51B, vs. $2.48B est., gross merchandise volume down 5% YoY to $18.4B, and forecasts Q2 revenue guidance above estimates  —  Ecommerce firm eBay Inc (EBAY.O) forecast second-quarter revenue above Wall Street estimates on Wednesday … Lees verder op Tech Meme

Bloomberg: A Brazilian court orders a temporary ban on Telegram in the country after the company refused to share information about neo-Nazi groups with the federal police  —  A federal court ordered a temporary ban on Telegram in Brazil after the messaging service refused to share information … Lees verder op Tech Meme

Amanda Silberling / TechCrunch: Mark Zuckerberg disputes the narrative that Meta is moving its focus away from a metaverse vision and sees AI tech working in tandem with the metaverse  —  Things are looking up for Meta.  The company beat revenue expectations, reporting an increase in year-over-year revenue for the first time in three quarters. Lees verder op Tech Meme

Paul Sawers / TechCrunch: Lookout agrees to sell its consumer mobile security business to F-Secure in a deal valued at around $223M, transitioning into a “pure-play enterprise company”  —  Lookout’s long-running transition to becoming an enterprise security company is all but complete … Lees verder op Tech Meme