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Facebook Shares Plummet in an Earnings Letdown (The New York Times)
Unhappy with Facebook’s first financial report as a public company Thursday, investors fled the stock in droves even as Mark Zuckerberg, the company’s chief executive, extolled its growth prospects to industry analysts. Facebook’s stock lost 18 percent of its value Thursday. VentureBeat Wall Street had tempered expectations for Facebook. The social network barely exceeded those expectations by posting $1.18 billion in revenue and earnings per share of $0.12 for the second quarter of 2012. USA Today Like nearly every business in social media and beyond, Facebook is betting a large portion of its future on mobile ads. “Mobile is a huge opportunity,” Zuckerberg said on the conference call with analysts. There had been speculation prior to the call that Zuckerberg might skip the conference call. Bloomberg Businessweek A new type of advertising, called Sponsored Stories allows advertisers to pay to highlight certain posts from others, so their friends and other members on the site can see them. Zuckerberg said this new ad product is already generating a million dollars a day in revenue, with half coming from mobile. ABC News Zuckerberg also shot down rumors about a Facebook smartphone. ”There are a lot of things you can build in other operating systems as well that aren’t really taking, that aren’t really like building out a whole phone, which wouldn’t make much sense for us to do,” he said. AllFacebook Both Zuckerberg and chief operating officer Sheryl Sandberg noted the importance of social ads. Sandberg called local social sharing, which is a necessary benefit for small and medium sized business, “the holy grail of the Internet.”
Twitter Suffers Second Outage in Five Weeks (Reuters)
A data center glitch brought down Twitter for roughly two hours on Thursday, as the micro-blogging service suffered its second widespread outage in five weeks and another blow to its reputation and reliability. Users trying to log on to its website were greeted only by an incomplete error message: “Twitter is currently down for. We expect to be back in.” Mashable Twitter said it is “deeply” sorry for the inconvenience it has caused users. “We are sorry,” Twitter said via a blog post. “Many of you came to Twitter earlier today [Thursday] expecting, well, Twitter. Instead, between around 8:20 a.m. and 9:00 a.m. PT, users around the world got zilch from us. By about 10:25 a.m. PT, people who came to Twitter finally got what they expected: Twitter.” CNET Typically, if one data center goes down, there’s another one in place for emergencies and redundancy. But the company said in its blog post that the parallel systems went down at nearly the same time.
Olympic Organizers Rush to Delete Leaked Opening Ceremony Footage From YouTube (SocialTimes)
Leaked footage of the Olympics’ opening ceremony was removed from YouTube Thursday in an attempt by the organizers to ensure that today’s ceremony will be a surprise. During the rehearsal, the show’s artistic director, Danny Boyle, appealed to spectators to “save the surprise” and not to share footage of the rehearsal before the event, but that didn’t stop some spectators from uploading videos of the rehearsal to YouTube.
Instagram Soars to 80 Million Users, 4 Billion Photos (VentureBeat)
Instagram Thursday announced that it has surpassed 80 million users who are sharing photos with friends via its iPhone and Android apps. The nearly two-year-old photo-sharing and filtering service, the property of Facebook pending close of that deal, is also celebrating nearly 4 billion photos shared.
Patent Troll Says it Owns GPS, Sues Foursquare (GigaOM)
A Nevada-based shell company has filed a lawsuit against Foursquare, claiming the popular app is violating two patents that cover familiar navigation features. Silver State’s short legal filing doesn’t describe how exactly Foursquare infringed on the patent.
How BuzzFeed Wants to Reinvent Wire Stories for Social Media (Nieman Journalism Lab)
Ben Smith wants to increase the impact of breaking news and decrease the echo from redundant reporting. Smith said the idea of the wire story needs to be reworked in the era of social media.
Twitter Bomb Joke Man Wins Appeal (ZDNET)
Paul Chambers, found guilty of sending a menacing message after joking that he would blow up Robin Hood Airport in Doncaster, England, has had his conviction overturned by the High Court. David Allen Green, Chambers’ solicitor, sent two tweets on Friday after the judges handed their ruling down: “Win” and “Acquittal.”
NYPD Officer Does Reddit Q&A, Further Confuses Us About Legal Implications of Jay-Z’s ’99 Problems’ (BetaBeat)
If “Law and Order” doesn’t provide you with sufficient insight into those who protect and serve our fine city, perhaps this Reddit thread can help. A user named 10-13 decided to initiate an “Ask Me Anything” post about his experience as an NYPD officer.
Here’s How to Win 1,000 Snickers Ice Cream Bars (AllTwitter)
Do you love ice cream sandwiches? How would you like to win 1,000 of them? Get out your fat pants and start tweeting for your chance to win!