TECH - Let's Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 21-27 2024) | Benzinga
Here’s what happened in the world of consumer tech in the last week:
Earnings
STMicroelectronics NV (NYSE: STM) reported a first-quarter 2024 revenue decline of 18.4% year-on-year to $3.47 billion, missing the consensus of $3.62 billion. EPS of $0.54 missed the consensus of $0.59.
Spotify Technology SA (NYSE:SPOT) reported fiscal first-quarter revenue of $3.95 billion (3.64 billion euros), up 20% year-on-year, beating the consensus of $3.85 billion. EPS of $1.05 (97 cents) beat the consensus of $0.70.
Related: Spotify Stock Sheds All Gains After Q1 Earnings, But Analysts Are Impressed With the Performance
Meta Platforms Inc. (NASDAQ:META) reported first-quarter revenue of $36.45 billion, which was up 27% year-over-year. The revenue came in ahead of a Street consensus estimate of $36.16 billion.
Elon Musk
Tesla Inc. (NASDAQ:TSLA) and SpaceX CEO Elon Musk responded to the Australian prime minister’s criticism, asserting that he does not consider himself above the law. This comes amid a legal dispute between the tech platform and Australia over the removal of a violent video.
Also Read: Elon Musk Agrees Every American Household Will Have A $1,000-Per-Month Home Robot In 7 Years’ Time
Musk took aim at Social Security on Monday, calling it the “Biggest Ponzi scheme ever.” Social Security provides retirement income and helps millions of Americans qualify for Medicare.
Also Read: Tesla Posts Strongest Session Since January 2022: Is A Trend Reversal Underway?
During its first quarter earnings call, Musk emphasized that the company should be recognized as an AI or robotics company rather than just an auto company.
Gaming
Microsoft Corp. (NASDAQ:MSFT) continues to impress with its latest custom Xbox creation: the X-Men ’97 Xbox Series X and matching controllers. This special edition console features an exclusive comic by Marvel’s Rich Douek and Paco Diaz, showcasing Cyclops leading the X-Men against their foes.
During the third-quarter earnings call, Microsoft CEO Nadella revealed that Microsoft had set new records for game streaming hours, console usage and monthly active devices.
Amazon Inc’s (NASDAQ:AMZN) “Fallout” TV series on Prime Video fuels interest in Fallout games, with Bethesda reporting nearly 5 million players in a day.
Smartphones
In an interview with CBS News’ “60 Minutes,” U.S. Commerce Secretary Gina Raimondo, a member of President Joe Biden’s cabinet, downplayed the significance of Huawei’s new chip technology, stating that it underscores the success of the Biden administration’s export controls on China.
Apple Inc. (NASDAQ:AAPL) is facing a potential market share decline in China due to its strict App ...