July 29, 2022, 1:02 AM

Top News

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.
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.
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)—, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2022.
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 …
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!
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 …
Caitlin Harrington / Wired:
A look at Apple's union-busting campaign, as some retail workers call on management to stop inflicting “traumatic” pressure on other workers trying to unionize  —  Workers are calling on management to stop inflicting “traumatic” pressure on other workers trying to unionize.
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 …
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 …
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 …
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.

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