Facebook posts strong quarter but reiterates slowing ad growth
Despite handily beating Wall Street expectations, Facebook again cautioned that revenue growth could slow in the second half of the year as the company literally has no more room in its main News Feed to stick ads.
In response, the company has been pushing hard for new places to put ads, including video and in its wildly popular messaging products.
Wall Street shrugs: Investors seemed mixed on what to make of the news, with shares trading up fractionally in after-hours trading.
Another take: "Don't Worry About Facebook's Growth. Be Happy." via Shira Ovide, a Bloomberg columnist.
"Facebook continues to be one of the fastest growing and most profitable tech companies in the world," Ovide wrote.
Meanwhile: COO Sheryl Sandberg told CNBC that the company remains in investment mode even after growing its workforce 43% year-over-year, to roughly 20,000 workers. "We think we have a lot of opportunities to connect more people, to help people share more, to build more community and you'll see us invest aggressively."
Sara and Kia have more here.
Difference is startling in telecom and tech industry reaction to Trump's transgender troop ban
While nearly all the major tech companies (or their top executives) spoke out against President Trump's move to ban transgender people from serving in the military, one group of companies was noticeably silent.
As was the case with the travel ban, the four major cellular carriers — AT&T, Sprint, T-Mobile, and Verizon — stayed silent. Verizon declined to comment to Axios on the matter, while Sprint, T-Mobile, and AT&T representatives did not respond to requests for comment.
My thought bubble: One reason that the telecom giants may be treading carefully is the number of issues close to home that remain before the administration. AT&T is trying to buy Time Warner, which is under antitrust review, while T-Mobile and Sprint might want to pursue their own merger deal at some point, together or with other partners. And then there's net neutrality, spectrum, and other issues.
Yes, but: The rest of the tech industry mainly responded with near-universal condemnation of the ban, with Google CEO Sundar Pichai and Salesforce CEO Marc Benioff among the first to criticize the move. Apple CEO Tim Cook, Facebook CEO Mark Zuckerberg, Twitter and Square CEO Jack Dorsey, Microsoft President Brad Smith, Intel CEO Brian Krzanich, Airbnb CEO Brian Chesky also spoke out against the ban on Wednesday.
It's not a "big, big, big" Apple plant, but...
Foxconn, which is a major contract manufacturer to Apple, announced plans for a $10 billion plant in Wisconsin on Wednesday.
Yes, but: The plant is expected to produce LCD panels for televisions, not make anything for Apple.
Which still leaves us a mystery just what Trump was talking about in an interview with The Wall Street Journal when he talked about three "big, big, big" plants that Apple is building in the U.S.
Apple has declined to comment.
Verizon tops JD Power customer support survey
Contrary to some perceptions, consumers are generally pretty happy with the customer support they get from their wireless carriers, according to a new survey from JD Power.
Verizon edged out AT&T to top JD Power's study of customer satisfaction among full-service wireless carriers. T-Mobile was a close third while Sprint finished last and received below-average marks.
In the prepaid segment, though, Sprint's Boost Mobile topped the rankings followed by its Virgin Mobile brand, while AT&'T's Cricket Wireless and T-Mobile's MetroPCS brands received below-average rankings.
Meanwhile, after Verizon issued its second quarter earnings this morning, pre-market shares crept up. Verizon's posting met Wall Street expectations for earnings per share and exceeded expected revenue. Verizon said it increased LTE network usage year over year via its introduction of unlimited data plans.
On tap: It's a busy day of earnings reports...Black Hat continues in Las Vegas, while Def Con Hacking Conference kicks off there as well.
Trading places: Former Twitter executive Michael Sippey said he is joining Medium as head of product as Medium is acquiring his latest startup, Talkshow...Kris Duggan plans to step down as CEO of HR software maker BetterWorks amid allegations of sexual harassment; Duggan plans to stay on as CEO until a successor is named and then become president, per Bloomberg...Meg Whitman stepped down from the board of PC maker HP Inc. but remains CEO of Hewlett Packard Enterprise.
ICYMI: A healthy chip business and strong sales of the Galaxy S8 helped Samsung's quarterly earnings top estimates...PayPal topped Wall Street estimates and raised its financial outlook for the year...CNBC's Christina Farr scooped details on 1492, a secretive Amazon unit working on digital health records and telemedicine projects...China's Xiaomi became the latest tech company to introduce its own digital assistant-powered smart speaker, the $49 Mi AI Speaker...Google pulled the plug on Instant Search, which started showing results while you typed, to improve the experience on mobile.