Twitter reported second-quarter ad revenues of $562 million, a 23% decrease compared to the same quarter a year ago. The company has also been hit by advertisers participating in an ad boycott of social media, linked to the nationwide racial justice protests. But Twitter executives declined to say how much of an impact the boycott has had on Twitter's business.
-- Brian Fung, CNN Business
"While we are cautiously optimistic that these trends could sustain over time, we are also conscious that operating conditions may remain volatile, and that economic conditions could further deteriorate," Snap Chief Financial Officer Derek Andersen said in his prepared remarks. "For example, advertising demand in Q3 has historically been bolstered by factors that appear unlikely to materialize in the same way they have in prior years, including the back to school season, film release schedules, and the operations of various sports leagues."
-- Max A. Cherney, Barron's
It's been my contention all along that the "boycott Facebook" trend was more about reducing costs ahead of plummeting sales, than the altruistic reasons being fed to investors -- Scrib
Facebook, Google, and others will now have to operate within rules set by the Communist Party of China if they want to stay in Hong Kong. If they do that, they will likely face a backlash back at home among their employees and US lawmakers. If they don’t, they lose out on getting any foothold at all within the biggest online market in the world.
-- Charlotte Jee, MIT Technology Review
Pinterest IPO'd this week, so I thought it would be a good opportunity to compare it to its peers in the space (Digital media? Social network? You decide!). Twitter is, of course, the old dog of the group, having launched in 2006 and IPO'd in 2013. Snap sprouted around the same time as Twitter's IPO, in 2012, and IPO'd in 2017. Pinterest falls somewhere in the middle, having launched in 2010 but taking the now-popular long path, to the public markets.
Well it wasn't the chart! Seriously, though, some people trade and some people invest - I do both. I trade the S&P 500 but I also have a portfolio of a half-dozen stocks (now seven!) that I hold. From time-to-time I may add or reduce the amount of money that I have in any particular holding, but they are what they are - permanent holdings (diversification is a farce, prove me wrong!). The subject of this post, though, is a rare addition to the portfolio, that I made today: Twitter.