Techmeme
July 30, 2020, 8:25 PM

Top News

Apple:
Apple reports Q3 revenue of $59.7B, up 11% YoY, of which $46.5B came from products, $13.1B from services, and net income of $11.2B; stock up 5%+ after hours  —  Revenue up 11 percent and EPS up 18 percent to new June quarter records  —  Apple today announced financial results for its fiscal 2020 third quarter ended June 27, 2020.
Ina Fried / Axios:
Apple confirms new iPhone models will arrive a few weeks later than they have in years past, confirming earlier news reports and supplier comments  —  Apple's financial chief said Thursday that this year's new iPhone models will arrive a few weeks later than they have in years past …
Stephen Nellis / Reuters:
Apple Q3: iPhone sales of $26.42B, up 1.66% YoY and beating expectations of $22.37B, Greater China sales of $9.33B, up from $9.16B YoY  —  (Reuters) - Apple Inc (AAPL.O) on Thursday delivered blowout quarterly results, reporting year-on-year revenue gains across every category and in every geography …
Todd Haselton / CNBC:
Alphabet:
Alphabet reports Q2 revenue of $38.3B, down 2% YoY, net income of $6.96B, down from $9.9B YoY, Other Bets operating loss grew to $1.1B  —  MOUNTAIN VIEW, Calif. - July 30, 2020 - Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2020.
Amazon.com:
Amazon reports Q2 revenue of $88.91B, up 40% YoY, net income of $5.2B, up from $2.5B in Q1 2019, and AWS revenue of $10.81B, up 29%; stock up 5%+ after hours  —  SEATTLE—(BUSINESS WIRE)—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2020.
Chance Miller / 9to5Mac:
Internal emails from 2010 show how an Amazon ad prompted Steve Jobs and Phil Schiller to block in-app purchases of Kindle books on iOS  —  As part of the House Judiciary Committee's antitrust probe into Apple, lawmakers have released a variety of internal emails from Apple.
Juli Clover / MacRumors:
Emails between Eddy Cue and other Apple execs from 2011, revealed in House hearing, show Apple considered 40% cut of first year digital content subscriptions  —  Apple once considered taking a 40 percent cut from some subscription apps, according to documents shared today by the House Judiciary Committee (via Bloomberg).
Steve Kovach / CNBC:
A trove of 1M+ documents from the House antitrust panel builds a far better antitrust case against the tech giants than anything the CEOs said under questioning  —  - Wednesday's Big Tech hearing provided almost no new information or insight into potential antitrust activity by Apple, Amazon, Facebook and Google.
Geoffrey Fowler / Washington Post:
An overview of attempts by tech CEOs to obfuscate and minimize during the hearing, claiming their companies are not that big and data remains under user control  —  No, Google, we're not really in control of our data.  And yes, Facebook, you profit from harmful information.
Robin Givhan / Washington Post:
Democrats at the hearing focused on big questions about the power of Big Tech, while the Republicans focused on Google and how it is “unfair” to conservatives  —  The congressional hearing starring the country's tech titans began as so many video conferences have in the midst of a pandemic …
Casey Newton / The Interface:
Facebook:
Facebook Q2: $18.68B revenue, up 11% YoY, as DAUs rise 12% YoY to 1.79B, MAUs rise 12% YoY to 2.7B; stock up 5%+ after hours  —  Facebook, Inc. (Nasdaq: FB) today reported financial results for the quarter ended June 30, 2020.  —  “We're glad to be able to provide small businesses the tools …
Casey Newton / The Verge:
Bloomberg:
Washington Post:
Rakuten: Amazon's share of US e-commerce fell to 38.5% in June from 42.1% in January; Target's share grew from 2.2% to 3.5% and Walmart's from 4.2% to 5%  —  Amid surging sales, some struggles to address worker safety concerns and get parcels to customers quickly opened the door to rivals.
Dean Takahashi / VentureBeat:
EA reports Q1 revenue of $1.46B vs expectations of $1.06B, up 20.7% YoY, live services increased 16% YoY to $1.1B; player engagement “exceptionally high”  —  Electronic Arts reported financial results that beat Wall Street's expectations with revenue growing 21% to $1.46 billion for the first fiscal quarter ended June 30.

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