Fortune’s curated selection of tech stories from the last 24 hours. Sign up to get the round-up delivered to you each and every day.
“I don’t think you understand. We can’t treat newspapers or magazines any differently than we treat FarmVille.” — Apple (AAPL) senior vice president Eddy Cue on the company’s 30% revenue cut via iTunes (The Wall Street Journal)
* Zynga’s (ZNGA) contributions to Facebook’s overall revenues declined from 19% last year to 15% this year. In the social network’s amended S-1, filed yesterday, it also revealed some updated stats, including 901 million million monthly active users and 500 million mobile users. As for that much-hyped Instagram acquisition, Facebook paid $300 million in cash, plus 23 million shares, valuing the overall deal at $1.01 billion. (TechCrunch)
* Netflix (NFLX) raked in $870 million in sales last quarter and added 3 million new subscribers to its streaming service, Netflix Instant, bringing the total number of users to 26 million. Despite the good news, Netflix shares dropped $15% due to a weak outlook for the next quarter: the company expects revenues of between $873 million and $895 million, lower than analyst predictions. (The Verge and CNNMoney)
* Quora is no longer just a Q&A site brimming with insider-y Silicon Valley discussions. The company released a breakdown of site topics, with food and entertainment and politics and social sciences coming in second and third, respectively. (AllThingsD)
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