The social media company’s revenue also exceeded estimates.
Snap’s net loss came in at -10 cents per share for the quarter, compared to the -18 cents per share anticipated by analysts polled by FactSet.The number of daily active users rose +23% year over year to 293 million.
The company launched eight new "Snap Originals" shows and 177 new "Discover Channels.
Twitter shares climbed in after-hours trading Thursday, following better-than-expected second-quarter results.
The social media behemoth’s adjusted diluted earnings came in at 35 cents a share, handily beating analysts’ expectations of 7 cents.Net income was 8 cents a share, bouncing back from loss of - $1.75 per share a year ago.
Revenue increased +74% from the year-ago quarter to $1.19 billion compared to analyst consensus of $1.07 billion.
The platform’s average monetizable daily active users in the second quarter was 206 million - up +11% year-over-year and +3% quarter-over-quarter.
For the third quarter, Twitter is expecting revenue to range between $1.22 billion and $1.3 billion .
On Tuesday, the European Union announced that it has started an investigation into whether Alphabet’s Google has broken EU competition rules.
The European Commission is probing into whether Google is curbing competition by favoring its own online display advertising technology services in the ad-tech supply chain, to the extent of restricting access by third parties to user data for advertising purposes on websites and apps (while reserving such data for its own use).
EC will also study whether Google's policies on user tracking are in line with fair competition principles.
Social media giant Facebook Inc’s smartwatch launch in 2022 could be its foray into the augmented reality space, according to Ark Invest. According to the investment management firm, Facebook seems to believe that a wrist device will be the interface for augmented reality. In March, Facebook revealed that it is working on soft robotics to build all-day writs-based wearable devices that will...
Photo-sharing app Snapchat reached 500 million monthly active users, parent Snap announced.
Chief Executive Evan Spiegel said that around 40% of the Snapchat user base is now located outside North America and Europe.
"[Nearly] one of every two smartphone users in the U.S. is on Snapchat," Chief Executive Evan Spiegel said in opening Snap's partner summit, according to Yahoo Finance.
Snapchat launched series of augmented reality tools, including Scan, which allows Snapchatters to match what is seen through the camera to relevant AR experiences on Snapchat.
The company also announced that it would launch a new app called Story Studio, which has video-editing tools.
Also, Poshmark is partnering with Snap to launch Poshmark Mini, which will be available to Snapchat users in the U.S. in three different ways: Shop Virtual Posh Parties, Shop Poshmark’s Entire Catalogue, and Shop Top-Selling Brands.
Facebook shares rose +5% after-hours trading on Wednesday, as the social media behemoth beat first-quarter earnings expectations.
The company’s net income came in at $3.30 per share, compared with $2.37 per share expected by analysts polled by Refinitiv. Earnings were $1.71 per share in the year-ago quarter.
Revenue surged +48% year-over-year to $26.17 billion in the quarter, vs. $23.67 billion expected by analysts.
Daily active users (DAUs) of 1.88 billion was close to the 1.89 billion forecast (based on FactSet data).Average revenue per user (ARPU) came in at $9.27 vs. $8.40 forecast by FactSet.
Advertising revenue was $25.44 billion, soaring +46% year-over-year, on the back of a +30% year-over-year increase in the average price per ad and a +12% rise in the number of ads delivered.
Earnings were $9.87 a share in the year-ago quarter.
Revenue rose to $55.31 billion, up from $44.16 billion a year ago.
The company’s Google Cloud revenue for the quarter grew +46% year-over-year to $4.05 billion vs. $4.07 billion expected by analysts polled by FactSet.YouTube ads generated $6.01 billion vs. $5.70 billion, according to StreetAccount.
According to a filing Tuesday, Alphabet’s board approved an additional stock repurchase of up to $50 billion on April 23.
Spotify Technology shares got a buy rating from Jefferies, as the latter initiated coverage of the audio streaming company.The analyst also indicated that new technologies are less likely to disrupt Spotify’s business model.
According to Uerkwitz, the company’s shares have substantial long-term opportunity and is trading at a discount to other content platform companies.
Anmuth affirmed his overweight rating on the shares.
Anmuth mentioned that Alphabet is well positioned across ads, clouds, and a number of other key initiatives to both drive and benefit from long-term digital trends.The analyst cited “attractive combination of top-line scale, growth and margins” as factors bolstering the view that valuation is attractive at 27 times the analyst’s 2022 estimated Alphabet GAAP earnings per share, or 22 times 2022 estimated GAAP earnings per share excluding cash and other bets.
According to Anmuth team’s valuation analysis, Alphabet has a market capitalization approaching $2 trillion, or $2,857 per share, which is 25% above where the shares currently trade.
Online dating services company Match Group’s shares got a rating boost from BTIG, citing valuation. Match is the owner of popular dating sites like Tinder, Match.com, and OkCupid.
BTIG analyst Jake Fuller raised his rating on Match to buy from neutral.He also sees upside to second-half 2021 and 2022-2025 numbers due to re-opening tailwinds, new products, the Hyperconnect acquisition and emerging brand/live streaming opportunities.
"The pandemic depressed Tinder ARPU [average revenue per user]," but a rebounding economy will help, the analyst added.
On Sunday, Tencent Music Entertainment Group announced a plan to repurchase $1 billion in shares. The China-based music-streaming service has authorized a buyback of up to $1 billion in Class A shares, in the form of American depositary receipts, over the next year. “The share repurchase program is a strong indication of the board’s confidence in the company’s business outlook and long-term...
Facebook is reportedly planning to start opening its Silicon Valley offices in May, if COVID-19 cases continue to decrease. The social media giant will allow its Menlo Park, California, headquarters at 10% capacity. Its Fremont, California, offices will do so on May 17, its Sunnyvale, California, offices on May 24 and its downtown San Francisco towers on June 7. All Facebook employees can...
Bumble, Inc., which became public in February, posted its fiscal fourth quarter revenue that beat analysts’ expectations. The online dating & networking company also provided an optimistic revenue guidance for the full year. The company’s revenue of $165.6 million came in higher than the $163.3 million expected by analysts polled by FactSet. Bumble incurred a net loss of -$26.1 million,...
Since receiving his Ph.D. in AI from the University of Edinburgh in 1978, Hinton has spent ample time teaching, researching, and innovating within the field.Hinton’s company, DNNresearch, was acquired by Google in 2013 after delivering a significant improvement in object recognition accuracy in photos, though neural nets have application in speech recognition, language processing, and more.
With vast experience in the field and an executive position at one of tech’s biggest and most important companies, Hinton is uniquely qualified to discuss the future of AI (as he did recently with Wired).
Quakes can cause staggering levels of damage and trigger other natural disasters, like tsunamis.Compounding the effects of the initial quake (called a “mainshock”) are a series of aftershocks – smaller earthquakes that can heighten the existing problems in a quake’s aftermath.
Science has been able to establish laws dictating the magnitude and timing of aftershocks – Omori’s law, Båth's law, and the Gutenberg–Richter law are all accepted by the scientific community as accurate representations of aftershock behavior.
Recent analyses from the US Treasury Department and KPMG (the creator of the vaunted, twice-yearly “Pulse of Fintech” report) have offered a rosy outlook for the space, which continues to threaten the way traditional financial institutions do business.
But for all the talk of creating a new financial paradigm, increasing numbers of companies are seeing the value of collaboration with fintech as a path to growth.Traditional financial institutions can transcend their legacy systems, while fintech firms can scale profitably in ways previously elusive – assuming both parties can get out of each other’s way.
Meanwhile, a new type of service called techfin offers a new, different type of disruptive potential.
By most accounts, it isn’t much, and YouTube, who reported $12 billion in revenue in 2017, recently raised the limit on the number of views required to share in advertising revenue.
This skewed distribution of wealth is not the only problem facing major tech platforms – many are experiencing backlash about the way they use the data they have collected about their users.A variety of companies are using blockchain technology, the foundational element of cryptocurrency, to pursue these goals.
Smart contracts, written in code within the blockchain protocol, allow companies to openly execute this vision.
Investing just $100 per year starting at 20 years old, with a minimum 5% return, would mean $17,667.02 sitting in a bank account upon retirement age (65).For investors who can sock away $100 a month instead of $100 a year, the numbers get into six figure territory.
With a help from a professional, or even a little research, achieving returns beyond 5% are well within reach.
Following Twitter’s Q4 earnings beat, several analysts boosted their one-year price targets on the microblogging platform’s shares. KeyBanc analyst Justin Patterson boosted his price target to a Wall Street-high of $80 from $65, as he perceived the Q4 results as a “full swing” recovery in Twitter’s advertising and continued success in strengthening audience engagement and advertisers...
Twitter reported fourth quarter earnings that crushed analysts’ expectations. Despite missing estimates for audience growth, the microblogging website experienced solid year-over-year increase in revenue. The company’s earnings came in at 27 cents per share, up from 15 cents per share a year ago. Excluding items, Twitter earned 38 cents per share. Analysts polled by FactSet on average...