10 Things You Need To Know This Morning

mark zuckerberg

Photo: Darren McCollester, Getty Images

Good morning! Here’s the news:

  • Facebook’s second quarter earnings report modestly beat Wall Street’s low expectations, but stocks tanked anyway, falling below $25 a share for the first time.
  • However, in a matter of weeks, Facebook has managed to create the world’s second largest mobile advertising business out of thin air.
  • Facebook’s CEO Mark Zuckerberg said during the earnings call that it doesn’t make sense for Facebook to build its own phone. However, that doesn’t mean the company won’t try to make a platform for other manufacturers to use on their phones.
  • Here are all the charts that Facebook released breaking down its numbers for the earnings call.
  • Samsung dominated Apple in smartphone sales last quarter, according to a new report. It looks like Apple’s new product time table may be starting to hurt it.
  • Apparently Apple and Samsung can’t even agree on where they will sit in the upcoming patent trial, according to AllThingsD. This doesn’t bode well.
  • Time Warner should be terrified of Google fibre, Google’s new Internet and TV service, which was unveiled on Thursday.
  • Twitter just blocked Instagram from using its API to find friends to follow on the photo-sharing service. Ouch!
  • This guy turned down a $500 million offer for his startup when he was 33, and he is thrilled about it now.
  • Don’t miss these new leaked photos of Apple’s early iPhone and iPad prototypes. 

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