Twitter reported its first profitable quarter ever — but it didn’t add any new users. The company reported profit of $91 million on $732 million in revenue. Wall Street was looking for $686 million in sales. But Twitter’s user base didn’t grow at all — it still has 330 million. We’ll listen in on the earnings call this morning at 5 am PT / 8 am ET. We’ll want to hear how the strategy will change without COO Anthony Noto, who resigned last month. [Kurt Wagner / Recode]
Following Snap’s first positive earnings report since going public last march, Snap stock rose 45 percent yesterday — the biggest price jump in the company’s history; it was also its second-biggest trading day. Meanwhile, Snapchat has built a new feature called Live for streaming live video inside the app — but for the time being, it’s only for Snapchat’s publishing partners, including NBC, which will use the video feature during its live coverage of the winter Olympics. [Rani Molla and Kurt Wagner / Recode]
Senate leaders reached a two-year budget agreement yesterday to raise military and domestic spending caps by hundreds of billions, disregarding President Trump’s threats to shut down the government. But Nancy Pelosi, the leader of the House Democrats, said she would not support a budget deal without a promise to debate legislation to protect the young undocumented immigrants known as Dreamers — Pelosi took the House floor for a record-setting eight-hour speech. [Thomas Kaplan / The New York Times]
Software engineer James Damore, the author of the infamous “Google Manifesto,” has dropped his National Labor Relations Board case against Google — to focus on his civil suit against Google. [Mark Bergen]
Here’s what happened on day three of the Uber-Waymo trial over self-driving tech secrets: Relatively restrained and compliant during his first day of testimony, former Uber CEO Travis Kalanick’s strategy yesterday was to play the chump, complaining that he had been betrayed by Alphabet CEO Larry Page, who was “super unpumped” when Kalanick and Uber started their own autonomous-car effort in 2015. At the trial, it also emerged that Uber rival Lyft considered buying Otto, the self-driving truck startup at the center of the lawsuit. [Johana Bhuiyan / Recode]
Internet pioneer John Perry Barlow, a co-founder of the Electronic Frontier Foundation and sometime lyricist for the Grateful Dead, died yesterday at age 70. Best known for his writings on the emerging philosophy of the internet during the ’90s, including 1996’s “A Declaration of the Independence of Cyberspace,” Barlow brought together the countercultural and libertarian strains in early internet ideology. [Cory Doctorow / BoingBoing]
Recode Presents ...
Code Media is next Monday and Tuesday, and the agenda is jam-packed with the most interesting and influential names in media and technology. And we just added three more must-see speakers: Disney EVP Kevin Mayer, NBA Commissioner Adam Silver and Turner CEO John Martin. There are still a couple of tickets left; if you want to join us in Huntington Beach, Calif., check here for availability.
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This article originally appeared on Recode.net.