Microblogging platform Twitter Inc. (NYSE: TWTR) slipped to a loss in the first quarter of 2020 from a profit last year, due to the growing impact of COVID-19 on the global operating and economic environment and their effect on advertiser demand. The results exceeded analysts’ expectations.
Revenue rose by 3% reflecting a strong start to the quarter that was impacted by widespread economic disruption related to the COVID-19 in March. The company said the reduced expenses resulting from coronavirus disruption partially offset the revenue shortfall, which resulted in an operating loss.
The average monetizable DAU grew by 24% year-over-year, driven by typical seasonal strength, ongoing product improvements, and global conversation related to the COVID-19 pandemic. Given the unprecedented uncertainty and rapidly shifting market conditions of the current business environment, the company is not providing quarter revenue or operating income guidance for Q2.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,