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July 22, 2022, 4:00 PM
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| Annie Palmer / CNBC: |
Twitter reports Q2 revenue down 1% YoY to $1.18B, vs. 1.32B est., a $270M net loss, down from $66M in net income a year ago, 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.
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Tweets: @aparanjape, @davepell, @alistairmbarr, @carnage4life, @carnage4life, @newley, and @ryan_browne_
| Jacob Kastrenakes / The Verge: |
Twitter says Q2 ad revenue grew 2% YoY to $1.08B and blames its revenue slide on uncertainty around Elon Musk's “pending 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 false or spam account average estimate, saying it performed an internal review and found they 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.| Bloomberg: |
Source: FTX is in advanced talks to acquire South Korean cryptocurrency exchange Bithumb — FTX, the crypto trading platform co-founded by billionaire Sam Bankman-Fried, is in advanced talks to buy South Korea's Bithumb, a person with knowledge of the matter said.
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| Mike Allen / Axios: |
Amazon SVP of global corporate affairs Jay Carney plans to join Airbnb in September 2022 as global head of policy and communications, succeeding Chris Lehane — Jay Carney, who was White House press secretary under President Obama, will move from Amazon to Airbnb as global head of policy and communications.
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Tweets: @mikeallen, @swin24, @liz_jarv, and @kenklippenstein
| oversightboard.com: |
Meta's Oversight Board Trust says the company is giving $150M to the trust as part of ongoing financial support, after its initial $130M contribution in 2019 — Today the Oversight Board Trust announced that Meta has made a commitment that provides for ongoing financial support for the Oversight Board.| Ashley Capoot / CNBC: |
Snap's stock opens down 33% following its Q2 earnings report that missed expectations, and is down 78%+ year-to-date — - Shares of Snap fell 38% on Friday, a day after the company reported disappointing second-quarter results. — Snap attributed its results to a challenging economy … | Jonathan Vanian / CNBC: |
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| Natasha Mascarenhas / TechCrunch: |
Instacart co-founder Apoorva Mehta, who stepped down as CEO in 2021, says he'll step down as executive chairman and leave the board once the company goes public — A year ago, Instacart co-founder Apoorva Mehta left his role as chief executive of the grocery delivery unicorn and took on an executive chairman position.| Bloomberg: |
Interview with 3AC founders Su Zhu and Kyle Davies, who could be hiding in UAE, on its “regrettable” collapse, leveraged bets, Luna, risk management, and more — After five weeks in hiding, the disgraced founders of Three Arrows Capital spoke extensively about the spectacular implosion … | Harry Baker / UploadVR: |
Meta introduces a Mature Worlds Policy for Horizon, a content rating system that will default to 18+ if creators do not apply a rating within the next month — Meta is adjusting its content policies for Horizon Worlds and introducing a new content rating system for “mature audiences”.
Tweets: @martinsfp and @caseynewton
| Associated Press: |
California approves new rules to let state and local office candidates accept cryptocurrency campaign donations if they immediately convert them into US dollars — Candidates for state and local offices in California will soon be able to accept cryptocurrency campaign donations.
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CoinQuora, The Block, Watcher Guru, and Finbold
| Jon Brodkin / Ars Technica: |
FCC chair asks carriers to explain how they use geolocation data, as Congress debates a law that may preempt the FCC from regulating carriers' privacy practices — Inquiry launched as Congress debates bill that could gut FCC's privacy authority. — Federal Communications Commission …
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Tweets: @jrosenworcel, @jrosenworcelfcc, @adam_k_levin, @briankrebs, and @karlbode
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