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28 Jul 2023 — 4 min read

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T-Mobile Earnings:

T-Mobile US recorded its best Q2 subscriber growth in eight years, exceeding Wall Street's expectations. The US carrier added 760,000 postpaid phone subscribers, more than rivals AT&T and Verizon, due to its cheaper plans and 5G services following the $23 billion acquisition of Sprint in 2020.
Despite the growth, Q2 revenue dropped by 2.6% to $19.20 billion, slightly under projections. T-Mobile's churn rate, a measure of customer attrition, was lower than its competitors at 0.77%. Its adjusted earnings per share of $1.86 also outperformed analyst predictions. The firm also raised its full-year forecast for wireless subscriber growth.

Apple App Store Update:

Apple has announced that App Store developers will soon need to explain the reason for using certain APIs in their apps, focusing on those classified as "Required Reason APIs".
The move aims to prevent fingerprinting, a method for tracking users across apps and websites. Starting with the launch of iOS 17 and other updated operating systems, developers will be alerted if they use these APIs without an explanation.
By spring 2024, apps that fail to provide a valid reason for using these APIs will be rejected. Apple will allow appeals for any rejections under this rule.

McDonald's Earnings:

McDonald's reported earnings with sales of $6.5 billion, surpassing the projected $6.4 billion in sales. Sales growth was seen across all operating segments, indicating a consolidated global comp growth of 11.7%.
The company is also working on a new spinoff restaurant brand called CosMc's, set to be tested in early 2024. More details about this venture will be shared at McDonald's investor day in December.

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