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. 

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.