Techmeme
July 27, 2018, 7:35 PM

Top News

Paresh Dave / Reuters:
Twitter posts record Q2 profit of $100M, beats estimates on revenue of $711M, up 24% YoY, but monthly users fell by 1M from Q1 to 335M due to increased removals  —  SAN FRANCISCO (Reuters) - Twitter Inc (TWTR.N) posted record profit on Friday with second quarter revenue that beat financial analysts' estimates …
Michelle Castillo / CNBC:
Twitter closes down more than 20% after company reports 1M QoQ decline in monthly active users  —  - Monthly active users (MAUs): 335 million vs. 338.5 million, according to StreetAccount and FactSet estimate  —  Twitter shares closed more than 20 percent down on Friday after the company reported …
Chloe Aiello / CNBC:
New York State Public Service Commission votes to revoke approval of the 2016 Charter/TWC merger, saying company failed to meet broadband buildout obligations  —  - The New York State Public Service Commission voted on Friday to revoke its approval of the 2016 merger agreement between Charter Communications and Time Warner Cable.
Claire Boston / Bloomberg:
SEC filing: MoviePass ran out of money and couldn't cover the bills causing service outage on Thursday, had to take out short term $6M+ loan due in early August  —  Helios and Matheson Analytics Inc., the parent company of MoviePass, received a short-term loan for more than $6 million …
Steven Musil / CNET:
Facebook bans Alex Jones from using his account for the next 30 days after removing four of his videos for violating its community standards  —  Alex Jones, the founder and star of conspiracy site Infowars, has been suspended by Facebook — and may face harsher consequences.
Taylor Lorenz / The Atlantic:
A look at the rise of “flop accounts” on Instagram, which some teens use to discuss hot-button topics and consider as more reliable than traditional media  —  It's harder and harder to have an honest debate on the internet.  Social-media platforms like Twitter, Reddit …
Romain Dillet / TechCrunch:
Norway-based browser maker Opera opens up 19.5% on its first day of trading in US after raising $115M in its IPO  —  Opera is now a public company.  The Norway-based company priced its initial public offering at $12 a share — the company initially expected to price its share in the $10 to $12 price range.

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Shona Ghosh / Business Insider:

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