Twitter this, critics…
Twitter gave its critics something to chirp about with an incredible earnings season. In fact, not only did its earnings rise 35% but the micro-blogging site also picked up millions more active users topping out at over 271 million active users trumping expectations of 267 million. Net revenue for the company was $312 million which was up 124% from a year ago. Twitter says that it has made improvements to its “onboarding” process. Now when new users sign up, the feeds that they’ll apparently enjoy get to them quicker. But Twitter’s excellent quarter likely had a lot more to do with the World Cup and the Twitterverse going full throttle for the event. However, many are still left wondering how advertisers are actually benefitting from the millions of dollars they plunk down on the site. Many will also be wondering if the company can pull off another good quarter without the World Cup and all the tweets that event pulled in. And btw, despite the great earnings, the company still posted a net loss of $145 million.
Hey, where’d it go?
Remember how the app Snapchat turned down a $3 billion offer from Facebook? Remember how Snapchat said that the messages – some of a delicate nature – disappeared forever but really they didn’t? Remember that charges of deception were brought against the company and it settled? Anyways, Snapchat has been in heavy duty money talks with Alibaba Group Holding Ltd., among other potential investors, which could put the company’s value at $10 billion. The messaging company boasts that over 700 million messages a day go through the site. So maybe blowing off Facebook wasn’t such a bad thing after all. Besides, the social networking giant went ahead and came up with a similar app of its own called Slingshot.
Ciao to Fiat?
Remember how long ago it’s been since J.Lo starred in those Fiat ads? Well neither do I. Apparently those ads didn’t prove very effective either otherwise they might have tried similar campaigns, no doubt in this past fiscal quarter where shares of the Italian car company tanked over 50%. FiatSpA, which also controls Chrysler, saw particularly poor numbers in North and Latin America. Net profit for the company was $263 million while a year ago it was $583 million.