Techmeme
July 30, 2020, 6:00 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.
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:
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.
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.
Mark Gurman / Bloomberg:
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.
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:
Facebook's Q2 results demonstrate a surge in usage across its products but it warns engagement may not last after the pandemic; ad revenue grew despite boycott  —  More people at home means more people on Facebook  —  The surge in Facebook usage during early shelter-in-place orders in the United States was not just a blip.
More: Reuters
Shubham Agarwal / Digital Trends:
TikTok says it will pay US creators $1B+ in the next three years, up from the $200M announced before, unveils $70M fund for creators in some European countries  —  After reports of Instagram poaching TikTok creators emerged, TikTok says it's ramping up its Creator Fund to over a billion dollars …
Bloomberg:
Tim Cook says Apple pushed back the time period that US employees would come back to the office until early 2021  —  Apple Inc. Chief Executive Officer Tim Cook said the company has pushed back a plan to return to its U.S. offices.  —  “We've kicked the time period that U.S. employees …
Canalys:
Analysis: Huawei shipped 55.8M devices globally, down 5% YoY, overtaking Samsung, which shipped 53.7M, down 30% YoY, to become the world's top smartphone vendor  —  Shanghai (China), Bengaluru (India), Singapore, Reading (UK) and Portland (US) - Thursday, 30 July 2020
Javier Espinoza / Financial Times:
Telegram files EU antitrust complaint against Apple, saying Apple must “allow users to have the opportunity of downloading software outside the App Store”  —  Messaging company is latest company to criticise restrictions and fees  —  Telegram, the messaging app …
Associated Press:
EU imposes its first ever cyber sanctions, hitting six people and three organizations including GRU, for involvement in WannaCry, NotPetya, and other attacks  —  BRUSSELS (AP) — The European Union on Thursday slapped sanctions on six people and three organizations, including Russia's military …

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