Tencent posted its first quarter results, where revenue across all business segments slipped -0.12% from the year-ago quarter to 135.47 billion yuan —below FactSet consensus estimates for 140.82 billion yuan. The Chinese company’s profit attributable to shareholders decreased by -23% from a year ago. Revenue from the business segment that includes gaming (which is Tencent's largest source of...
Tesla CEO Elon Musk has decided to put his Twitter acquisition on hold temporarily, according to his latest tweets on the same. "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted, while adding he was "still committed to acquisition." The initial tweet followed a May 2 story published by...
Twitter shares climbed +6% in the afternoon, on reports that the microblogging company is nearing a deal with Elon Musk that could be announced as soon as Monday. The Wall Street Journal reported that the deal was expected by market close. Earlier this month, Tesla CEO Musk offered to buy Twitter for $54.20 a share, or about $43 billion. Twitter had adopted a so-called poison pill to avoid a...
Micro-blogging website Twitter shares climbed on Monday, but are still lower than the takeover bid offered by Elon Musk last week. Musk , Tesla’s CEO, tweeted on Monday that he would eliminate all board members, taking collective salaries to "$0 if my bid succeeds, so that’s ~$3M/year saved right there". Last week, Musk announced a surprise $43 billion takeover bid, around a week after he had...
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BuzzFeed is shrinking its workforce and shifting the focus of its news division as the digital media company, in a bid to boost its profitability. The company is offering voluntary buyouts in its 100-person newsroom and some top editors are leaving. They include Mark Schoofs, the editor in chief of BuzzFeed News, Ariel Kaminer, the executive editor for investigations, and deputy editor in...
Match Group reported its fourth-quarter earnings, that fell short of analysts' expectations. The dating app company incurred a loss of -$0.47 per share, compared to the Street expectations of earnings of $0.60 a share. Revenue came in at $806 million in the quarter, below analysts’ expectation of $821 million. Total revenue per payer (RPP) rose +8% year over year to $16.16 million. RPP from...
Alphabet reported its fourth quarter earnings that surpassed analysts’ expectations. Revenues also came in higher than anticipated. The tech behemoth’s earnings for the quarter was $30.69, well above the $27.34 expected by analysts according to Refinitiv. Revenue of $75.33 billion also beat expectations of $72.17 billion according to Refinitiv. Google’s advertising revenue in the quarter rose...
Twitter reported a loss for its third quarter. The social media company’s non-GAAP loss for the three months ending in September came in at -54 cents per share, compared to a profit of 19 cents per share in the year-ago quarter. The figure is missed the Street expectations of a profit of 17 cents a share. Total revenues rose +37% year-over-year to $1.28 billion. Group advertising revenues...
Shares of Google parent company Alphabet fell Tuesday during after-hours trading, even as the technology behemoth reported revenue that crushed analysts’ expectations. Alphabet’s third quarter revenue climbed +41% from the year-ago quarter to $65.12 billion, exceeding the $63.34 billion expected by analysts polled by Refinitiv. The company’s earnings came in at $27.99 per share, well above...
Shares of Snap plunged -23% during after-hours trading Thursday, after the social media company said its ad business was hurt by changes in Apple’s ad tracking rules. “Our advertising business was disrupted by changes to iOS ad tracking that were broadly rolled out by Apple in June and July,” Snap said in a statement. “While we anticipated some degree of business disruption, the new...
Pinterest shares climbed on Wednesday, and were up nearly +13% for the day., following a report that suggested the company is being considered for a takeover by online payments group PayPal . According to Bloomberg News, PayPal is looking at buying the social media platform, and is in talks for a potential price of $70 a share – which implies Pinterest being valued at around $39 billion. Late...
IAC/InterActive's digital media unit, Dotdash will acquire Meredith Corp. in an all-cash transaction valued at $2.7 billion. The combined entity will be named Dotdash Meredith and will be led by Dotdash CEO Neil Vogel, according to the two companies’ statement. Under the terms of the deal, Dotdash will pay $42.18 a share for Meredith. Meredith is a publisher of magazines such as People,...
Facebook Chief Technology Officer Mike Schroepfer is planning to resign his position after a transition period. Schroepfer will transition to become the company's first senior fellow. The social media behemoth mentioned in a statement that it will replace Schroepfer with its head of Facebook Reality Labs Andrew Bosworth in 2022. As CTO, Bosworth will continue to oversee the Facebook Reality...
Total average revenue per paying user rose to $20.88, compared to $18.12.
The company incurred a loss of -6 cents a share in the second quarter, compared with break-even per share a year ago.Analysts expected a break-even per share figure for the latest quarter.
For full year 2021, Bumble is expecting revenue in the range of $752 million to $762 million, higher than consensus forecast of $736.46 million.
Analysts polled by FactSet expected adjusted earnings of 24 cents a share.
Revenue surged +70% year-over-year to $1.31 billion in the quarter, surpassing analysts’ estimate of $1.28 billion.Zillow’s revenue from the Internet, Media & Technology segment came in at $476.1 million (vs. $280 million a year ago, and compared to analysts’ expected $467 million); revenue from for its core Premier Agent offering for professionals was $348.8 million (vs. $192 million a year-ago, and compared to analysts’ expected $345 million).
The company’s revenue from its Homes segment was $777.1 million (vs. $454.3 million in the same quarter last year, and $751 million expected by analysts polled by Factset).
Revenue, however, beat expectations.
The online dating service conglomerate, posted second-quarter earnings of 46 cents a share, compared to the 49 cents a share expected by analysts polled by FactSet.The figure, however, is higher than 36 cents a share during COVID-19 pandemic-induced depression in the year-ago quarter.
Revenue climbed +27% year-over-year to $707.76 million, also exceeding analysts’ forecast of $693.5 million.
Chief Executive Shar Dubey continues to be optimistic about momentum while entering the second half of the year.
Twitter CEO Jack Dorsey confirmed to investors that Bitcoin will be a “big part” of the company’s future.
Dorsey also emphasized that Bitcoin would have a major role in the company’s future plans on boosting decentralized finance and payments.
Last week, payments services company Square said that it is building a new business focused on “decentralized financial services” using Bitcoin.
Earlier this year, Dorsey formed a $23.6 million Bitcoin fund with Jay Z and also bought a majority stake in Jay-Z’s TIDAL music service, reflecting his interest in applying blockchain technologies in the music business.
Facebook shares climbed on Friday, after Credit Suisse analyst Stephen Ju raised his price target on the social media giant’s shares.
Ju hiked his price target to $480 from $400, while maintaining his outperform rating.
“As Facebook (and the broader online ad industry) continues to benefit from budget recovery for the second quarter, our focus shifts back to offense and product development,” Ju wrote in a commentary.
“At the time of its last disclosure (the third quarter of 2020), the core Facebook app had 200 million business profiles and 10 million advertisers, while Instagram had 4 million advertisers,” Ju wrote.
“From a near-term tactical perspective, our conversations with advertisers continue to suggest ad budget recovery across most sectors.”
Alphabet shares climbed on Friday, following price target hikes at Credit Suisse, ahead of second quarter earnings release next week.
Credit Suisse analyst Stephen Ju boosted his price target on the Google-parent’s shares by 21.5% to $3,350 per share.Ju mentioned the impact of new product launches that will increase the company’s total addressable advertisement market to around $3 trillion on the back of a strategy that targets both larger and small-to-medium sized businesses with real-time inventory listings that can link to its search and map features.