Microsoft Cloud drove record sales and profits for Q2, which saw a year-over-year revenue gain of 8 percent to $56.2 billion for April through June. Net income topped $20 billion, a 20 percent gain that beat analyst expectations and the company’s own estimates. Microsoft Cloud revenue for Q2 was up 21 percent, to $30.3 billion. And the company is beginning to see the results of its investments in artificial intelligence. Q2 is Microsoft’s second record-setting quarter this year, topping the three-month high of $52.9 billion in Q1. The previous profit record was $18.8 billion in Q4 2021. Read more

Have the striking Hollywood writers and actors opened a void that the creator economy is able to fill? Already in demand, top influencers are now being courted by producers and studios hungry for content to fill depleted pipelines. Meanwhile, striking actors and writers are taking their ideas to YouTube, Instagram, TikTok and Twitch, where they can forge a direct relationship with viewers — albeit not one that will result in direct-deposit paychecks. As the definitions of “talent” and “content” continue to blur, the Hollywood landscape could be in for a seismic shift. Read more

Elon Musk has begun rebranding Twitter as X with a simple black letter X-ing out the iconic blue bird logo. The reaction has been mixed so far. Some say it conjures cool, as in “X marks the spot,” while others suggest it evokes a corporate industrial “Big Brother” that could negatively impact the successful brand. Whether it will help Musk and CEO Linda Yaccarino monetize the social service remains to be seen, but it definitely marks a clean break from a colorful past. On Monday, at Twitter’s San Francisco headquarters, feathered features like the company logo that once lorded over the cafeteria were removed, and stylized X logos were projected. Read more

Netflix is updating its mobile user interface to consolidate watch activity in one place. Rolling out for iOS now and Android in August, My Netflix is the new hub for watchlists, downloads and views in progress. The “one stop shop” also collects My List items, notifications, trailers and other content with which users have interacted, including TV shows or movies that have been validated with a subscriber’s thumbs-up. My Netflix replaces the Downloads section globally, and the streamer says the more users interact with it the more customized it will become. Read more

Streaming accounted for 37.7 percent of overall U.S. TV usage in June, a record share for the digital format. Cable TV accounted for 30.6 percent and broadcast 20.8 percent, according to Nielsen’s monthly snapshot The Gauge. TV viewing was up 2.2 percent in June, the first monthly increase since January. The uptick was principally attributed to young viewers and the summer break. Notably, TV consumption among the 2-11 and 12-17 age groups was up 16.3 percent and 24.1 percent, respectively, compared with May. Alternative viewing options — including streaming and video gaming — accounted for 90 percent among those groups. Read more