In the last week (and a bit) we’ve had quarterly earnings calls from Facebook, Yahoo, and Google. The results were a mixed bag.
Facebook beat market expectations with a hefty 51% rise in revenue YoY, with continued, albeit it slowing, user growth. Mina drivers of this growth appeared to be an 25% increases in average revenue per user, growth from users in the developing world, and the Audience Network hitting a $1bn run rate.
Yahoo had less positive news to share, posting a frightening $4.4bn loss on the quarter and announcing a 15% cut to the workforce and a tightening of the future strategy. It seems most investors are hoping for a buyer to come along and scoop up the troubled company.
In contrast, Google stole the show with a another strong quarter, temporarily sending their valuation ahead of Apple’s.
Alas, the valuation didn’t hold, as the share price declined for the remainder of the week. The only major news from Google this week was the departure of Search Head, Amit Singhal, but I’m sure he’s not to blame for al of that drop!
Twitter will be holding it’s earnings call next week, but in the meantime they’ve updated their homepage for users that aren’t logged-in to the service. One of the many monetisation efforts that investors have been shouting for.
A company that’s felling the love from investors is Magic Leap, which received nearly $800 million in funding this week, achieving a valuation of £3.7bn. Impressive backing for a business with no sales and no product yet. Is this further evidence of a tech bubble building.
Finally, this week saw the inaugural Prolific North Live event take place at the Emirates Old Trafford, bringing together thousands of people in the northern marketing community for a day of exhibitions and seminars.
I managed to head along for the afternoon and was pleasantly surprised by the overall quality of the event. Bring on the next one!