With many Americans holding holiday gatherings online, the FCC warns that videoconferencing software can be “vulnerable to security breaches,” said Dave Savolaine, a commission consumer education and outreach specialist, on an agency webinar Friday. Password-protecting videoconference calls can prevent intruders from planting malware on devices, he said. He recommends that video call hosts log in before guests arrive to prevent unwanted visitors. Use platforms’ “waiting room” feature "to see who’s knocking on the door before they’re let in,” said Savolaine. The host should lock the video meeting once all expected visitors arrive, he said. “This isn’t just so you don’t have to listen to that one relative who may be obnoxious at your holiday gathering. This is also for the safety of your devices.”
Stay-at-home gaming drove Nvidia to record Q3 revenue of $4.73 billion, up 57% year on year and “well above our” forecast, said Chief Financial Officer Colette Kress on a Thursday call. Gaming revenue of $2.27 billion was “ahead of our high expectations” and a 37% gain, she said. GeForce graphics processing units (GPUs) are generating “overwhelming demand” for desktop gaming PCs during the pandemic, said Kress.
Global shipments of new vehicles with Android Automotive infotainment systems will reach 36 million shipments in 2030, reported ABI Research Wednesday. Android Automotive is “ideal for mass-market vehicles” because it contains “pre-developed” automotive audio, navigation and Bluetooth “extensions,” reducing costs and time to market, said ABI: “Built-in Google services provide access to other connected devices and a smartphone-like experience to the cockpit at lower costs.”
Target executives credited “flexibility” and “agility” for a 21% year-on-year hike in comparable sales. Stores had a 9.9% year-on-year comparable sales bump; digital comps spiked 155%, they said on a Wednesday Q3 call. Sales through same-day services soared 217%. Revenue grew 21% to $22.6 billion. CEO Brian Cornell cited “sharply higher” sales gains in hardlines, with comp growth in the mid-30% range, led by electronics, up 50%. He highlighted strength in computer software, videogames, portable electronics and office equipment. Inventory shortfalls persist amid “huge swings in pace of sales” in some categories, said Chief Operating Officer John Mulligan. Employees are playing “catch-up” in long-lead categories such as electronics that had “an unexpected sharp and sustained explosion in demand.” Target ended Q3 in a better inventory position and expects additional recovery in Q4. It didn't provide guidance due to “continued headwinds facing the consumer and the economy,” said Chief Financial Officer Michael Fiddelke. He referenced uncertainty about the path of the pandemic and continued levels of employment.
October online and other non-store sales rose 3.1% sequentially, up 26% from October 2019, reported the National Retail Federation Tuesday. “Early holiday shopping provided a strong boost,” said NRF CEO Matthew Shay. “Consumers have proven their resilience and willingness to spend as we head into the heart of the holiday season.”
Baidu’s $3.6 billion all-cash buy of YY Live, the Chinese video streaming service, will render ad-free content a more “meaningful piece” of Baidu’s core business, said Chief Financial Officer Herman Yu on a Q3 investor call Monday. Once Baidu closes the transaction in 2021's first half, its ad-supported “legacy business, which has been dragging our mobile ecosystem growth, will become an even smaller piece” of the company’s portfolio, he said. Baidu has “substantial upside from growing nonadvertising revenue,” said CEO Robin Li. Ad-free revenue, as a share of Baidu’s “consumer-facing business,” is much lower than that of its “peers,” he said. “Adding YY Live to our portfolio will allow Baidu to gain immediate operational experience and know-how on building a large live video community,” plus speed its migration to ad-free revenue, he said. Li rationalized the deal amid growing saturation in streaming services, saying “it's only natural for us to integrate with a live streaming business such as YY and further monetize our existing user base and traffic” of 300 million daily active users.
Nearly 70% of U.S. small-to-medium businesses are concerned about cybersecurity vulnerabilities at their locations, blogged Parks Associates Monday. Thirty-seven percent are likely to buy data security services in the next six months. The connected device landscape for SMBs has been steadily growing and “becoming more complicated,” said analyst Jennifer Kent, noting the increased device load on networks from access control devices, cameras, thermostats, lighting and signage. Having employees working at home during the pandemic is “opening new vulnerabilities to a company’s network,” she said.
President-elect Joe Biden cited universal broadband access during a Monday speech as one of his priorities for reviving the U.S. economy. The issue came up in a meeting he and Vice President-elect Kamala Harris had with business and labor leaders, including Microsoft CEO Satya Nadella, Biden said. Broadband is “more important than ever for remote learning,” telework and telemedicine amid the COVID-19 pandemic, the politician said: The U.S. needs to build its “digital infrastructure to help businesses, healthcare workers, first responders and students.” Biden previously cited the issue when he accepted the Democratic Party nomination in August (see 2008210001).
AudioEye ended Q3 with about 22,000 customers, a 500% increase from a year earlier and more than triple its customer accounts since Dec. 31, said Executive Chairman Carr Bettis on a Thursday investor call. The company markets online accessibility tools for the visually impaired and certifies websites for American With Disabilities Act compliance. Though demand for digital accessibility is strong, AudioEye has had new customer deals delayed because of COVID-19, said Bettis. “We've also continued to extend some more flexible pricing and other options to our customers on a case-by-case basis, to help them manage through the impact on their own businesses from the pandemic.” Customer renewals are down “substantially due to events that are out of our control, such as bankruptcy proceedings or outright business closures,” he said.
Remote working drove “significant increased usage” of Webex in fiscal Q1 ended Oct. 24, plus “solid adoption as customers look to us for a flexible work solution that also enables privacy and security,” said Cisco CEO Chuck Robbins on a Thursday investor call. Webex had nearly 600 million participants in October alone, “almost double the number we had in March,” he said. “We are reimagining every aspect of the collaboration experience” with built-in artificial intelligence technology, security and integrated workflow applications to “create a more intelligent work environment and to improve productivity,” he said. The stock closed 7.1% higher Friday at $41.40.