Techmeme
July 29, 2022, 9:05 AM

Top News

Apple:
Apple reports record Q3 revenue of $83B, up 2% YoY vs. $82.8B est., net income down 11% to $19.4B, iPhone revenue up 3% to $40.7B, Mac revenue down 10% to $7.4B  —  iPhone and Services drive June quarter record revenue  —  Active installed base of devices reaches all-time high for all major product categories
Kif Leswing / CNBC:
Apple reports Services revenue grew 12% YoY to $19.6B in Q3 2022 and 860M paying subscribers globally across all its services, up from 825M in Q2 2022  —  KEY POINTS  — Analysts are expecting the company to give fourth-quarter guidance of $1.31 in earnings per share and nearly $90 billion in sales.
Casey Newton / Platformer:
Adam Mosseri says Instagram will roll back some recent changes after a week of mounting criticism, including temporarily reducing the number of recommendations  —  Say goodbye to the full-screen feed, and at least some of those recommendations — for now.  Adam Mosseri explains why
Amanda Silberling / TechCrunch:
Instagram's Dual copies BeReal's front and back camera capture feature, but misses the point: people like BeReal because it's non-addictive by design  —  BeReal is all about friends and habits — not the algorithm  —  We know the drill: Snapchat adds the Stories feature, Instagram nabs it.
Jordan Novet / CNBC:
Intel reports Q2 revenue down 22% YoY to $15.32B, vs. $17.92B est., a $454M net loss, and Datacenter and AI revenue down 16% YoY to $4.6B; stock drops 10%+  —  - Intel slashed its full-year guidance and turned in worse-than expected quarterly results.  — The company launched new chips …
Amazon:
Amazon reports Q2 revenue up 7% YoY to $121.2B, $2B net loss vs. $7.8B net income in Q2 2021, and AWS revenue up 33% YoY; stock jumps 12%+  —  SEATTLE—(BUSINESS WIRE)—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2022.
Richard Lawler / The Verge:
In an email to Twitter Blue subscribers, Twitter says it is increasing the price of the service; in the US, the price will jump from $2.99 to $4.99 per month  —  Who would pay for Twitter?  —  People frequently express their amazement that Twitter is free, but for some people, it isn't …
Makena Kelly / The Verge:
The US House passes the Chips and Science Act, which includes $52B+ for US chipmakers and tax credits to encourage investment; Biden must now sign it into law  —  All that's left is Biden's signature  —  It might get cheaper and easier to buy popular tech products, like gaming consoles and graphics cards …
Cecilia Kang / New York Times:
Lina Khan's attempt to block Meta's Within acquisition upends decades of antitrust standards and could shift how DC regulates competition in nascent industries  —  Lina Khan may set off a shift in how Washington regulates competition by filing cases in tech areas before they mature.
Pete Schroeder / Reuters:
US banking regulators order Voyager Digital to cease and desist from making “false and misleading” claims that its customers' funds were insured by the FDIC  —  U.S. banking regulators have ordered crypto firm Voyager Digital to cease and desist from making “false and misleading” …
@chrislyons:
VeeFriends, Gary Vaynerchuk's NFT project that has amassed ~200K ETH in sales to provide online and in-person community events, raised a $50M seed led by a16z  —  gm! I'm very excited to announce that @a16z crypto is leading a $50M round in @veefriends. We look forward to helping the team fuel expansion plans for its creative, technical and experiential operations that support the growing Web3 community! https://a16zcrypto.com/...
Manish Singh / TechCrunch:
Battle-royale game BGMI, with 16.5M MAUs in India, delisted from iOS and Android app stores after Indian government ban, two years after a ban of Krafton's PUBG  —  Google has pulled the popular battle royale game Battlegrounds Mobile India, more popularly known as BGMI …
Foo Yun Chee / Reuters:
Sources: EU is considering creating a new directorate headed by two top antitrust officials, amid concerns EU competition watchdog may struggle to enforce DMA  —  The European Commission is considering creating a new directorate that may be headed by two top antitrust officials to enforce tough …
More: PYMNTS.com
Olivia Solon / Bloomberg:
Sources: a Chinese government PR division asked to open a stealth account on TikTok, targeting Western audiences; TikTok declined the “sensitive” request  —  A Chinese government entity responsible for public relations attempted to open a stealth account on TikTok targeting Western audiences …

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More News

Nathan Grayson / Washington Post:
Todd Spangler / Variety:
Bloomberg:
Joshua Brustein / Bloomberg:

Earlier Picks

Stephen Totilo / Axios:
Ina Fried / Axios: