Tech stocks suffer a big sell-off after earnings fail to impress Wall Street

traded lower Friday, a day after the companies released quarterly reports that failed to wow Wall Street.Twitter stock plunged to close down more than 21% Friday after the company reported disappointing user growth. Twitter grew its total monetizable daily active users by just 1 million people from last quarter to 187 million users, falling shy of analysts' expectations of 195 million mDAUs for the third quarter.

"The good news is we did have a big surge in usage in March," Chief Financial Officer Ned Segal told CNBC's "" on Friday. "The great news about that is we're retaining that group of people better than we have historical groups because of all the product work we've done. So, the way it's flowed through our monetizable daily active usage, we ended up growing our DAU by a million sequentially this quarter, but 42 million year over year."in the U.S.

"Globally, FB was benefiting from higher usage per day as global lock-downs substituted screen time for in-person social time," Needham analysts said in a note Friday.but didn't offer fourth-quarter guidance and reported a 20% year-over-year decline in iPhone sales. The iPhone decline was due to a launch that was delayed by about a month. New iPhone 12 sales weren't included during the quarter.

"While we acknowledge the concerns around 4Q20 profitability as investments in the fulfillment network push into 4Q and COVID-19 costs remain elevated, we think these investments should lead to greater share gains going forward as eCommerce adoption accelerates due to COVID-19," JPMorgan analysts said in a note Friday.

Jack Dorsey‘s physical appearance, expressions, and his choice of words during his Senate hearings gave me absolutely no confidence in his ability to lead Twitter. Dump the stock people. Dump the stock, looks like jack is failing big time.

Sell off probably also section 230 related

However investors see bargains. Today’s action was stupid

Obama's fault

Twitter is garbage too

How much did dorsey lose today? lol

Those who have sound vision while they are on earth will spend their eternity in the Kingdom of GLORY. ExpressFridayVigil 회개와거룩함10.31.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street rebounds as market eyes tech results, strong U.S. dataU.S. stocks closed higher on Thursday, with the technology heavyweights rallying ahead of major earnings reports and upbeat domestic economic data calming investor jitters about surging coronavirus cases. Yup and then Apple dropped 5% haha. Ouch. Stimulus is more than enough Buy buy buy
Source: Reuters - 🏆 2. / 97 Read more »

Asian shares look for rebound following tech earningsAsian markets looked to continue an upward swing on Friday, after a rebound in U.S. equities and strong corporate earnings set the stage. After 4 yrs of the self-proclaimed genius and Tariff man cost the American consumer- U.S. trade deficit rose in August to the highest level in 14 years. This underworld filter... Could the photographer have done a better job?East Asia is all about the dark background.
Source: Reuters - 🏆 2. / 97 Read more »