10 things in tech you need to know today

The relaunch of the Nokia 3310 helped Nokia post higher than expected profits.

The relaunch of the Nokia 3310 helped Nokia post higher than expected profits.
Rob Price/BI

Good morning! Here’s the technology news you need to know this Thursday morning.

1. Facebook beat Wall Street expectations in its fourth-quarter results announced yesterday, but it announced a significant decline in usage of its service and what may be the first-ever drop in daily users in the US. The amount of time users are spending on the site declined by 50 million hours a day, CEO Mark Zuckerberg said.

2. Microsoft modestly beat Wall Street expectations in its earnings yesterday. It reported revenue of $28.92 billion (£20.3 billion), and earnings per share of $0.96 (£0.68).

3. The cryptocurrency boom helped Samsung post a record $50.2 billion (£35.3 billion) profit in 2017. The crypto boom has increased demand for chips, but the company’s mobile division saw a 3% decline year-over-year in its profits.

4. Pandora is laying off 5% of its staff and shifting its focus away from California because it’s too expensive. It wants to expand its presence in Atlanta, Georgia due to a lower cost of living.

5. Walmart is reportedly in talks to acquire a stake in Flipkart, Amazon’s biggest rival in India. Walmart was reportedly interested in investing in Flipkart nearly two years ago.

6. Nintendo had its best Q3 in eight years thanks to the Switch. Nintendo posted an operating profit of 116.50 billion yen ($1.07 billion/£756 million) for the third quarter, up almost four-fold year-on-year.

7. Nokia reported better-than-expected quarterly profits. Its profits included a one-off payment of €210 million ($260 million/£183 million) from Huawei.

8. A Wall Street analyst downgraded Apple and said there’s a big problem with the iPhone X. BMO Capital Markets said that the iPhone has hit a plateau.

9. Amazon is reportedly on the hook for four more Woody Allen movies, and is considering a “hefty payout” to kill the deal. Allen has recently come under renewed scrutiny over allegations that he sexually abused his adoptive daughter, Dylan Farrow, when she was seven years old.

10. GDPR could wipe 2% from Google’s revenues, according to Deutsche Bank. The European Union’s new privacy and data protection act comes into force in May.