Techmeme
July 29, 2022, 2:16 AM

Top News

Apple:
Apple reports record Q3 revenue up 2% YoY to $83B, 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.
Reuters:
Apple expects a faster sales growth in Q4, citing easing parts shortages and strong iPhone demand; Tim Cook says Apple is also “being more deliberate” in hiring  —  Apple Inc (AAPL.O) on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening …
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 Group revenue down 16% YoY to $4.6B; stock down 5%+  —  - 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; the stock jumps 10%+ after hours  —  SEATTLE—(BUSINESS WIRE)—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2022.
@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/...
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 …
Richard Lawler / The Verge:
In an email to Twitter Blue subscribers, Twitter says it's 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 …
Todd Spangler / Variety:
Roku misses with Q2 revenue up 18% YoY to $764M, vs. $805.2M est., 200M fewer streaming hours at 20.7B, and 1.8M active accounts added to 63.1M; stock down 25%+  —  Roku fell well short of Wall Street financial forecasts for the second quarter — and the streaming platform saw the number of hours streamed by customers drop from Q1.
Taylor Locke / Fortune:
Variant, an early stage crypto-focused fund, has raised $450M for a third fund focused on the “user-owned web”, after previously raising $22.5M and $110M  —  Each “crypto winter” is different from the last, but every winter—or what non-crypto people would call a bear market …
Bloomberg:
An in-depth look at the issues facing Afterpay, Klarna, Affirm, and other BNPL players, such as economic uncertainty, competition, regulators, and consumer debt  —  For three days each week during the month of April in 2014, a seasoned product manager named Lulu Young, an engineering manager …
Bloomberg:
As advertisers struggle with Reels, Meta tries to ease them into the format, including, sources say, by encouraging them to test their video ads on TikTok first  —  Reels — the short videos that Facebook and Instagram are pushing — are getting more popular, parent company Meta Platforms Inc. says.
Joshua Brustein / Bloomberg:
Hours before Sky Mavis told users it was hacked, CEO Trung Nguyen moved about $3M worth of Axie Infinity's main token AXS; Sky Mavis says it was to help users  —  This spring, Sky Mavis, the startup that makes the video game Axie Infinity, announced it had suffered a devastating hack.
Marguerite Reardon / CNET:
Senate and House Democrats plan to introduce a bill to reinstate Obama-era net neutrality rules and reestablish the FCC's authority over broadband networks  —  Senate and House Democrats are set to introduce a bill to reinstate Obama-era net neutrality rules and to give the FCC authority over broadband networks.
More: The VergeTweets: @michaelguimarin

Sponsor Posts

Termina:
AI Powered Diligence at Scale  —  VCs and founders deploy Termina AI Scans on >12% of all known series A+ deals to uncover hidden risks and opportunities.  Explore how you too can invest and build better companies with AI.
Zoho:
Top live chat software in 2025  —  When it comes to customer communication, every second counts for businesses because it leads to either a treasure trove or an empty cave.  To help with this …
SBS Comms:
Expect Better: SBS Comms  —  The media landscape is changing fast, so don't be slow — out with the old, in with the new.  SBS helps tech companies like GitHub, Cloudflare, Flexport, Ramp and more modernize comms and secure impactful results.
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Techmeme Ride Home:
Arm Upends The Entire Semiconductor Industry
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe to Techmeme Ride Home.
The Logan Bartlett Show:
Andy Price (Artisanal): Executive Hiring Advice from the Founder of Tech's Top Recruiting Firm
A podcast hosted by Logan Bartlett, an investor at Redpoint Ventures, covering tech with industry insiders.
Subscribe to The Logan Bartlett Show.
Decoder with Nilay Patel:
The FCC is a weapon in Trump's war on free speech
A show from the Verge about big ideas - and other problems.
Subscribe to Decoder with Nilay Patel.
Generative Now:
Mike Krieger: Product Building Lessons from Co-Founding Instagram to Leading Product at Anthropic
A podcast from Lightspeed dedicated to highlighting the stories, strategies and insights behind today's most exciting AI companies.
Subscribe to Generative Now.
Channels with Peter Kafka:
BuzzFeed wants to build a... social network?
Media and tech aren't just intersecting - they're fully intertwined. To understand how those worlds work, Peter Kafka talks to industry leaders, upstarts and observers.
Subscribe to Channels with Peter Kafka.
Invest Like the Best:
Marc Andreessen - The Battle For Tech Supremacy
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
Subscribe to Invest Like the Best.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 2:16 AM ET, July 29, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Chris Welch / The Verge:
Ina Fried / Axios:

Earlier Picks

Sara Fischer / Axios:
Matthew Sparkes / New Scientist: