Huawei Cuts 2019 Earnings Guidance by $25 Billion
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| Huawei Cuts 2019 Earnings Guidance by $25 Billion | |
| Number | 866 |
| Broadcast Date | JUNE 17, 2019 |
| Episode Length | 4:48 |
| Hosts | Rich Stroffolino |
Huawei cut its earnings guidance by at least $25 billion, IBM rolls out bias monitors for AI, and Genius claims Google stole its lyrics.
Headlines
- Huawei CEO Ren Zhengfei announced lowered revenue expectations for the year since being put on the US Department of Commerce Entity List which bars US sales the company. In the statement, Ren said the company's international smartphone shipments declined 40% in the past month. The company's initial guidance expected 2019 revenue between $125 billion and $130 billion, but Ren announced it now expects revenue around $100 billion for 2019 and 2020 before a revival in business by 2021. In 2018, Huawei generated $104 billion in revenue.
- In its Q2 financial results, Broadcom disclosed the ongoing trade-ban with Huawei will decrease sales by $2 billion in 2019. Huawei accounted for 4% of overall Broadcom sales in 2018, and CEO Hock Tan stated there are no obvious substitutes on the market to make up the sales.
- IBM rolled out bias monitors for its AI platform, Watson OpenScale. These monitors search AI training datasets for protected attributes, including sex, ethnicity, marital status, and age, and flag them for additional monitoring, allowing organizations to track any bias through production. The monitors will also identify specific values in protected attributes that should be monitored as well. In addition, the Watson team will work with IBM's Promotory subsidiary to expand monitored attributes with an eye for future data compliance.
- The music lyrics site Genius has filed two complaints with Google since 2017 alleging that the search engine violated Genius' terms of service and anti-trust law by taking lyrics from its site and surfacing them in general search results. Genius claims it used a watermarking system in lyrics using curled and straight apostrophes in a set sequence within a song that spelled out "RedHanded" in Morse Code. Genius found Google copied this sequence in over 100 lyrics search results. In a statement, Google stated it licenses information that surfaces in "information panels" from partners, and would terminate agreements with any that were "not upholding good practices." Genius does not hold a copyright to any of the lyrics on its site, so it is unclear how any legal action on its complaints would proceed.
- The site for Amazon's Instagram competitor, Amazon Spark, has been shut down. Spark originally launched in 2017, and provided Prime members a feed of shopable images and stories. The URL for Spark redirects to a new FoundItOnAmazon site, which resembles the existing Interesting Finds page.
- The New York Times reports that the United States Cyber Command has stepped up digital incursions into Russia's power grid, according to interviews with current and former government officials. According to sources, the US has implanted reconnaissance probes into the control systems of the Russian power grid since at least 2012. Under broader powers granted to the USCC by Congress and Presidential Memoranda, the agency is now authorized to take more aggressive action without the need for direct Presidential approval. The move is reportedly a response to Russian interference in the US 2016 presidential election, and as a deterrent to any interference in the 2020 election. There is no evidence that cyber attacks by the US or Russia have shut off the power grid in either country.
- Walmart began rolling out Delivery Unlimited, a delivery subscription that costs $98 annually or $12.95 a month. Customers can order through Walmart Grocery and select a delivery time window. Walmart previously offered online ordering, with either a flat $9.99 delivery fee, or free in-store pickup.
- The transport app Citymapper announced the shutdown of Ride, its hybrid bus and taxi service. Ride launched as Smartbus in 2017 in London, providing two buses that ran routes the company found were underserviced by public transit. In 2018 the company added shared 8-seater vans and taxis, operated by drivers on a fixed salary rather than paid per ride. Citymapper cited regulatory constraints and the need to focus on other projects for the shutdown.
- American Airlines announced it completed rolling out satellite-based broadband Wi-Fi to its entire mainland fleet, currently the largest carrier by passenger volume and fleet number. As part of the rollout, passengers can stream 12 free cable channels to devices while in flight for free, including on international flights. Satellite service is offered through either Gogo or ViaSat.
Links
| Preceded by: "Week in Review for the Week of 6/10/19" |
Huawei Cuts 2019 Earnings Guidance by $25 Billion |
Followed by: "Facebook Announces Libra Cryptocurrency" |