Uber beat revenue expectations in the first quarter but faced heavy losses stemming primarily from write-downs as it girded for the full impact of the coronavirus pandemic, the company reported Thursday.
Why it matters: Uber is among the companies significantly impacted by measures to curb the current virus spread as people stay home as much as possible, though its food delivery business is seeing a huge boost for the same reason.
Zoom agreed to step up security protections for all of its users under an agreement with the New York attorney general's office announced today.
The big picture: Zoom is keen to placate lawmakers and regulators as it deals with the increased scrutiny that has accompanied the popularity of its videoconferencing service during the coronavirus pandemic.
Sidewalk Labs, the urban tech segment of Google parent Alphabet, is pulling out of its long-planned smart city project for Toronto's waterfront, citing "unprecedented economic uncertainty."
Why it matters: The move suggests pursuing futuristic transformations may take a back seat as already strapped cities focus their resources on managing the coronavirus pandemic and its economic impact.
With much of the world sheltering in place, there has been a noted increase in domestic violence, as experts had feared. Not all abuse is physical, though: Many abusers are using smartphones and apps to inflict additional pain.
Why it matters: Technological forms of abuse, ranging from sharing intimate photos to hacking accounts and stalking, can persist even after survivors have physically escaped their abusers.
Sinclair Broadcast Group agreed to pay a record $48 million to settle three Federal Communications Commission investigations into its practices, the agency said Wednesday.
Why it matters: Despite the big penalty, the conservative-leaning broadcaster will keep its licenses after accusations the company misled regulators in its failed bid to buy Tribune Media.
Food delivery company GrubHub's stock dropped by more than 5% in after-hours trading after it delivered mixed Q1 results, with strong revenue, widening losses and a year-on-year decrease in daily average orders.
Why it matters: The coronavirus pandemic is expected to help delivery services as Americans remain home and shift how they interact with restaurants. Yet tech companies that enable them also face mounting costs relating to their workers' health and safety, and GrubHub's Q1 results suggest existing headwinds going into the crisis.
Lyft's stock price shot up by 15% in after-hours trading after the company beat Q1 revenue estimates yet also posted a loss per share more than double what analysts expected.
Why it matters: With the coronavirus keeping most Americans home, Lyft is in crisis mode, cutting 17% of its workforce just last week. The report indicates the company was making solid progress getting more revenue out of its riders before the pandemic hit.
Facebook's independent Oversight Board will be led by two U.S. constitutional scholars, a former prime minister of Denmark and a former official with the Organization of American States.
The big picture: The board is a first-of-its-kind internet governance body, which Facebook spent $130 million to fund to provide independent review of its content moderation decisions.
The future of a major nuisance for millions of Americans hangs in the balance Wednesday as the Supreme Court weighs whether federal limits on robocalls are unconstitutional.
Why it matters: A decision barring restrictions on robocalls could open the floodgates to many more than the tens of billions Americans already endure — and expand the treatment of corporate activities and political organizations' expenditures as constitutionally protected speech.
