Techmeme
July 28, 2022, 10:20 PM

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's Services revenue grew 12% YoY to $19.6B, its slowest growth since Q4 2015; the unit's Q3 gross margin was 71.5%, versus Apple's overall margin of 43.3%  —  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
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.
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 …
@chrislyons:
VeeFriends, Gary Vaynerchuk's NFT project that provides online and in-person community events, raised $50M 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 now must 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 …
Matthew Sparkes / New Scientist:
DeepMind says AlphaFold has predicted, in 18 months, the structure of almost every protein cataloged by science, 200M+ in total, a biology problem for decades  —  Artificial intelligence firm DeepMind has transformed biology by predicting the structure of nearly all proteins known to science …
Amanda Silberling / TechCrunch:
Instagram's new feature Dual copies BeReal's front and back camera capture quirk, but misses that 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.
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 …
Tom Warren / The Verge:
Sony begins testing support for a 1440p video output option on the PlayStation 5, a widely requested feature, alongside curated gamelists and new social tools  —  Beta testers get access today  —  Sony is starting to test 1440p resolution support for its PlayStation 5 console, a highly-requested addition.
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.
Sara Fischer / Axios:
Sources: Meta begins telling its ~50 US news partners that the company will not renew its three-year deals from 2019 to pay for content in Facebook's News Tab  —  Meta on Tuesday began telling its news partners in the U.S. that the company no longer plans to pay publishers for their content …
Bloomberg:
An in-depth look at the issues facing Afterpay, Klarna, Affirm, and other BNPL players, such as economic uncertainty, competition, regulators, and customer debt  —  For three days each week during the month of April in 2014, a seasoned product manager named Lulu Young, an engineering manager …
Chris Welch / The Verge:
Google Pixel Buds Pro review: good ANC, improved sound, lengthy battery life, and no frequent dropouts, but transparency mode, audio fidelity, and mic need work  —  Google's premium buds have more features — without deal-breaking flaws  —  It wasn't a sure thing that the Pixel Buds Pro would turn out to be good.
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.
Amanda Silberling / TechCrunch:
Twitter tests a status feature for tweets, letting select users in the US and Australia add a label from a predetermined list “to provide more context”  —  Facebook is trying to be TikTok, but now, Twitter is bringing us back a little bit of Facebook (or LiveJournal, or Myspace).
Kharishar Kahfi / The Block:
Space and Time, a decentralized blockchain data platform, raised a $10M seed led by Framework Ventures, and says it is building a new cryptographic protocol  —  Framework Ventures is leading the seed funding round.  —  The $10 million in funds will be used to add engineers to work on the decentralized database.
More: CoinDesk

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