Good morning! Here’s the technology news you need to know this Friday.
1. Google beat its Q2 earnings expectations on both the top and bottom line. Stock was up 5% last night.
2. Amazon sets its third straight record profit, but the stock barely moved. Third quarter operating income guidance came in lower than street estimates.
3. Microsoft is laying off another 2,850 people in the next 12 months. In total, Microsoft laid off 7,400 employees in its last fiscal year, which ended on June 30.
4. Apple isn’t focused on building a car anymore, just software. It has hired Dan Dodge, the founder of QNX, and one of the premier experts in car software.
5. Yahoo is suddenly in a hiring frenzy despite layoffs and its sale to Verizon. The company posted 76 new job openings on July 18. Two days later, it posted a whopping 151 new job openings.
6. Uber is going to become legal in China. The government plans to formally allow the company to operate starting in November.
7. Apple’s tough negotiating strategy may have delayed its TV service. Insiders have spoken about what it’s like to work with Eddy Cue.
8. Brazil has frozen $11.7 million (£8.8 million) of Facebook funds because of a legal case about WhatsApp. The government wants data on WhatsApp users.
9. Oracle is buying NetSuite for $9.3 billion (£7 billion). It’s a cloud-based provider of accounting and financial management services.
10. Apple has sold its billionth iPhone. The product first launched in the summer of 2007.