Techmeme
July 22, 2022, 10:01 AM

Top News

Annie Palmer / CNBC:
Twitter reports Q2 revenue of $1.18B, down 1% YoY, a net loss of $270M, down from $66M in net income last year, and 237.8M mDAUs, up 16.6% YoY  —  - Twitter reported earnings for the second quarter on Friday that missed analyst estimates on earnings, revenue and user growth.
Jacob Kastrenakes / The Verge:
Twitter says ad revenue grew 2% to $1.08B in Q2 and blames its revenue slide on uncertainty around the Elon Musk acquisition and ad industry problems  —  Musk is creating ‘uncertainty’ for advertisers  —  Twitter would have earned more money over the past few months if Elon Musk hadn't been in the picture.
Zoe Kleinman / BBC:
Twitter reiterates its estimate that the average of false or spam accounts represented fewer than 5% of MAUs in Q2  —  Twitter spent $33m (£27m) on Elon Musk's proposed deal to buy the firm between April and June 2022.  —  It also said its number of monthly daily users had risen to 237m …
Jonathan Vanian / CNBC:
Snap Q2: revenue up 13% YoY to $1.11B, vs. $1.14B est., DAUs up 18% to 347M, vs. 344.2M est., net loss of $422M, up from $152M YoY  —  - Snap missed on the top and bottom lines in its second-quarter earnings report.  — The company authorized a stock repurchasing program of up to $500 million.
Ashley Capoot / CNBC:
Snap opens down 33% following its Q2 earnings report; Snap stock is down 77% year-to-date  —  - Shares of Snap fell 35% on Friday, a day after the company reported disappointing second-quarter results.  — Snap attributed its results to a challenging economy, slowing demand for its online platform …
AJ Vicens / CyberScoop:
Ukraine says hackers attacked TAVR Media, which operates nine radio stations, to broadcast a fake message that President Zelenskyy was in critical condition  —  Cyber criminals attacked a Ukrainian company that operates nine “major” radio stations to spread a message that Ukrainian President …
Richard Lawler / The Verge:
Instagram says all new video posts under 15 minutes will now be shared as Reels and videos under 90 seconds from public accounts will be recommended to others  —  And it's combining the Reels / Video section of your profile under one tab  —  Welcome to the new era of Instagram …
Jon Porter / The Verge:
Tim Copeland / The Block:
The SEC lists nine crypto tokens as securities in its insider trading complaint against an ex-Coinbase staffer; Coinbase petitions for rules classifying tokens  —  - The SEC has arrested and charged a former Coinbase employee with wire fraud.  — In the SEC complaint, it mentions nine tokens and says they are all securities.
Bloomberg:
Emily Birnbaum / Bloomberg:
Apple is on track for its biggest year of US lobbying, spending $4.6M in H1 2022, as Tim Cook becomes one of the country's most politically active tech CEOs  —  Apple Inc. Chief Executive Officer Tim Cook wasn't fully sold on having a team of Washington lobbyists a decade ago.

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Allison Johnson / The Verge:
Ben Horowitz / Andreessen Horowitz:
Ingrid Lunden / TechCrunch: