Plus, Perplexity’s CEO proposes revenue-sharing deal with news publishers that have criticized the startup. And AT&T’s CEO says he doesn’t expect Apple Intelligence to lead to an iPhone sales boom. Zoe Thomas hosts.
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[00:00:00] [SPEAKER_00]: Exchanges. The Goldman Sachs podcast featuring exchanges on the forces driving the markets and the economy. Exchanges between the leading minds at Goldman Sachs. New episodes every week. Listen now.
[00:00:17] [SPEAKER_00]: TNB Tech Minute for Wednesday, October 23rd. I'm Zoe Thomas for The Wall Street Journal.
[00:00:22] [SPEAKER_00]: Tesla has reported a surprise increase in quarterly profit. It's the first increase since the electric carmaker started slashing prices and offering promotions to stimulate new car sales this year as its earnings began to slide. Net income for the third quarter was $2.2 billion. That's up 17% from a year earlier, thanks in part to higher revenue and an uptick in new vehicle deliveries.
[00:00:49] [SPEAKER_00]: Revenue for the quarter was up 8% from a year earlier to $25.2 billion.
[00:00:57] [SPEAKER_00]: The founder and CEO of Perplexity says the company wants to reach revenue-sharing partnerships with news publishers that have criticized it for allegedly misappropriating their content.
[00:01:09] [SPEAKER_00]: Aravind Srinivas made the comments at The Wall Street Journal's Tech Live event today.
[00:01:13] [SPEAKER_00]: It comes just two days after WSJ parent Dow Jones and the New York Post, both owned by News Corp., sued Perplexity for copyright infringement.
[00:01:24] [SPEAKER_00]: Other news publishers, including the New York Times, have sent legal notices requesting that Perplexity's search engine stop using their content.
[00:01:32] [SPEAKER_00]: Srinivas articulated a vision where Perplexity would share advertising revenue with publishers.
[00:01:37] [SPEAKER_00]: The company has already announced partnerships along those lines with a handful of publishers.
[00:01:43] [SPEAKER_00]: And AT&T CEO John Stanky says Apple's upcoming AI-powered update may not be enough to boost iPhone sales.
[00:01:52] [SPEAKER_00]: Stanky told analysts on a call that there will likely be a slow ramp up in consumer interest in Apple intelligence, as opposed to a big bang when it comes out later this month.
[00:02:02] [SPEAKER_00]: He said that's often the case when software launches, but AT&T does expect a seasonal boost to phone sales next quarter.
[00:02:09] [SPEAKER_00]: For a deeper dive into what's happening in tech, check out Thursday's Tech News Briefing podcast.
[00:02:15] [SPEAKER_00]: .