Techmeme
July 30, 2020, 5:42 PM

Top News

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:
A recap of antitrust hearing, which was messy but overdue and showed us the beginning of Congress holding powerful tech CEOs to account based on actual evidence  —  Well, we had an antitrust hearing.  —  A long one, too.  The House Judiciary Committee's investigation into the market power of Amazon …
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.
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.
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 …
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.
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 …
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.
Tweets: @shaig
Foo Yun Chee / Reuters:
Sources: EU antitrust regulators are set to open a full-scale investigation of Google's $2.1B bid for Fitbit after EC preliminary review ends August 4  —  BRUSSELS (Reuters) - EU antitrust regulators are set to open a full-scale investigation into Alphabet Inc unit Google's $2.1 billion bid …

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