July 28, 2022, 4:40 AM

Top News

Meta - Investor Relations:
Meta reports Q2 revenue down 1% YoY to $28.8B, net income down 36% YoY to $6.69B, and Family of Apps daily active people up 4% YoY to 2.88B  —  Announces Plans for Chief Financial Officer Transition and Chief Strategy Officer Appointment MENLO PARK, Calif., July 27, 2022 /PRNewswire …
Salvador Rodriguez / Wall Street Journal:
Meta reports its first-ever YoY quarterly revenue decline and issues a lowered Q3 forecast, citing a weak ad demand environment and macroeconomic uncertainty  —  Facebook parent Meta Platforms Inc. META 6.55%▲ posted its first decline in revenue and issued a muted outlook …
Nelson Wang / CoinDesk:
Meta's Reality Labs division posts a $2.81B loss for Q2 2022, vs. $3.67B est., on $452M in revenue, compared to a $2.96B loss for Q1 2022 on $695M in revenue  —  Meta reported revenue of $452 million for the division, down from $695 million in the first quarter.  —  Jul 27, 2022
Jordan Novet / CNBC:
Mark Zuckerberg: the economic downturn will broadly impact the digital ad business and Meta thus plans to “steadily reduce headcount growth over the next year”  —  - It appears the economy has begun a downturn, said Mark Zuckerberg, CEO of Meta Platforms, on the company's Q2 earnings call.
Amanda Silberling / TechCrunch:
New York Times:
The FTC files to block Meta's acquisition of VR company Within, saying Meta “chose to buy” instead of compete, the first antitrust lawsuit filed under Lina Khan  —  The move is a blow to Meta's metaverse efforts and signals a shift in how the Federal Trade Commission is approaching tech deals.
Richard Speed / The Register:
Microsoft details Austria-based malware group Knotweed, which has used Windows and Adobe zero-day exploits to attack European and Central American organizations  —  Reports seeing ‘offensive actor’ flinging SubZero malware  —  Microsoft has published an analysis of a Europe-based …
Frederic Lardinois / TechCrunch:
Google unveils Chrome OS features: video editing in Google Photos, PDF editing in Gallery, light and dark themes, and the ability to save a virtual desk  —  Google today announced that it is adding a new movie editor and a few new video editing features to Google Photos …
Abner Li / 9to5Google:
Google delays phasing out third-party cookies in Chrome to H2 2024, after deferring the plan from 2022 to 2023, citing the need for more Privacy Sandbox tests  —  Google was originally planning to get rid of third-party cookies in its browser by 2022, but that was later pushed back to 2023.
Jason Schreier / Bloomberg:
Interviews with 20+ people detail GTA developer Rockstar's attempts to change its “boys' club” workplace culture, starting in 2018, after complaints and burnout  —  In the summer of 2020, after a police officer killed George Floyd, Rockstar Games quietly shelved a mode of play …
Kevin Breuninger / CNBC:
The US Senate passes the Chips and Science Act, including $52B+ for US chipmakers plus tax credits to encourage investment; the bill now heads to the House  —  - The Senate passed bipartisan legislation aimed to help the U.S. compete with China by injecting tens of billions of dollars into the domestic production of semiconductors.
Dustin Volz / Wall Street Journal:
Former US national security officials form the Open Source Intelligence Foundation to promote analyzing public data like social media posts for intel-gathering  —  Social media, satellite images, mobile-phone data can yield as much insight as traditional espionage, but few rules exist
Mark Gurman / Bloomberg:
Sources: Apple has hired Luigi Taraborrelli, who was most recently Lamborghini's head of chassis and vehicle dynamics, to work on its self-driving electric car  —  Apple Inc. has enlisted one of Lamborghini's top car-development managers in a sign that it's stepping up work …
Kif Leswing / CNBC:
Qualcomm reports Q3 revenue up 37% YoY to $10.93B, vs. $10.88B est., net income up 53% YoY to $3.36B, and chip segment revenue up 45% YoY to $9.38B  —  - Qualcomm reported third-quarter earnings after the bell on Wednesday, slightly beating Wall Street expectations, but guidance …
Ingrid Lunden / TechCrunch:
Spotify has “decided to stop further production of Car Thing units” and will take a €31M charge, citing factors like “product demand and supply chain issues”  —  Spotify's push to complement its music streaming with a big move into podcasting and related content appears …
The Hollywood Reporter:
Chris Stokel-Walker / Gizmodo:
Internal TikTok PR documents reveal suggested responses to difficult questions, including downplaying AI, parent company ByteDance, and “the China association”  —  Leaked documents detail what TikTok tells the media—and what it doesn't.  —  Leaked documents from within TikTok reveal …
Emma Roth / The Verge:
Financial Times:
Sources: Twitter CEO Parag Agarwal has sought to spend more time with advertisers to keep the company's $4.5B/year ad business afloat amid its Musk legal battle  —  Legal battle to enforce $44bn sale has exacerbated tensions between leadership and staff  —  Twitter is suffering from falling morale …

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Jeff Stone / Bloomberg:
Taylor Lorenz / Taylor Lorenz's Newsletter:
Ry Crist / CNET: