FB under fire... Facebook reports earnings today, while in the thick of a public-trust crisis. First, WSJ’s bombshell coverage of internal FB files underscored Instagram’s toxicity for teens. Then, two whistleblowers said FB puts profits over user safety. Last quarter, FB’s booming ad sales drove revenue to a record $29B. But it warned that Apple’s iOS update, which now lets users opt out of ad tracking, could hurt profits. It already hurt Snap, whose stock plunged 22% Friday after it dropped disappointing results.
Restocking TP… During the pandemic, Amazon won over IRL shoppers as we scanned digital shelves for lockdown essentials. Amazon’s sales hit a record $125B for the quarter ending last December, but year-over-year growth slowed last quarter. Still, the ’Zon could make up half of US online sales this year. Ahead of holiday demand and supply-chain troubles, it plans to hire 150K seasonal staff, 50% more than last year. Amazon is set to drop earnings on Thursday.