Executives told investors revenue will grow more than 50 percent annually for “multiple” years, according to reports on Reuters, Bloomberg and CNBC. That’s more than 12 percentage points above the previous consensus estimate for next year.
Twitter (TWTR) is up 27 percent since Friday, February 5. That makes it the best-performing member of the S&P 500 for the period. It’s also the biggest weekly gain for Jack Dorsey’s social-media company since February 2015.
Alphabet (GOOGL) made the biggest splash, spiking more than 12 percent to new record highs. The search giant benefited from a stay-at-home boom in online advertising. But a lot more is going on.
We’re finishing the busiest and most important week of earnings season. The five most-valuable U.S. companies issued results. Here’s a quick breakdown:
Analysts expected a hike of 14 cents per share in Twitter’s Q3 earnings, but Twitter upped that to 21 cents per share. Refinitv ran a speculative survey that proposed revenues of $702.6 million but again, Twitter overreached, coming in at $758 million. Twitter’s user base is well below Facebook, but the platform is taking measures to enhance active use. It was thought user numbers for Q3 would hit 330.1 million, but they fell behind at 326 million.
We’re talking about digital advertising, a field long dominated by Alphabet (GOOGL) and Facebook (FB). While those two companies control more than half the market, they’ve shown signs of peaking at the very same time AMZN is taking off.