Despite announcing a better-than-expected Q3 earnings report with revenue of $616 million, up 8 percent year-over-year, Twitter confirmed that it plans to lay off 9 percent of its employees, reports Recode. In a blog post that surprised many, the company also announced that it would discontinue its Vine mobile app for sharing short videos. (The website will remain online so fans can watch the Vines already created.) Vine has recently experienced a mass exodus as influencers have transitioned to Snapchat, Facebook and YouTube. Meanwhile, rumors continue to circulate that Twitter could be up for sale sometime soon. Continue reading Twitter Struggles with Financial Stability, Shutters Vine Videos

Facing stiff regulatory hurdles, Netflix has decided to shift gears regarding its plans for expansion into China. Rather than launching its own streaming subscription service as originally planned, the company will instead focus on licensing content to Chinese online service providers for now. “We still have a long-term desire to serve the Chinese people directly, and hope to launch our service in China eventually,” the company said while announcing its impressive Q3 earnings and subscriber jump. Netflix added more than 130 countries to its global presence this year, but a move into China would involve a “challenging” regulatory environment. Continue reading Netflix Adjusts China Plans, Pursues Licensing Deals for Now

While Twitter has shown its potential as a communication and news-sharing platform, and continues to experiment (for example: streaming deals with the NFL and a SoundCloud partnership), the company has struggled to turn a profit and satisfy investors. With all the recent hype surrounding a possible acquisition, NPR asks if “it’s worth pondering the idea of Twitter getting out from under the pressures of Wall Street and turning itself into a nonprofit.” Rather than bending to the relentless pressure of competing for growth and profit, pursuing ad revenue and adjusting how its algorithms sort tweets, the platform could possibly prove most useful to journalists, politicians and grassroots movements if it was “free of investor pressure.” Continue reading Could Twitter Better Serve Communities as a Social Non-Profit?

Amazon announced its fifth consecutive quarterly profit yesterday, and its third consecutive record-setting profit. Revenue increased 31 percent; sales rose to $30.4 billion from $23.19 billion. The company’s cloud computing division, Amazon Web Services, accounted for an impressive 56 percent of Amazon’s operating income, and it grew 58 percent in the last quarter. “The results show Amazon moving toward investors’ long-held hope of consistent profitability after a lengthy period of heavy investments and quarterly losses,” notes The Wall Street Journal. “Overall, Amazon posted a second-quarter $857 million profit, or $1.78 a share, compared with $92 million, or 19 cents a share, a year earlier.” Continue reading Amazon Posts Record Profit and Significant Growth for AWS

Google’s quarterly profit rose 24 percent, while revenue increased 21 percent to $21.5 billion, thanks in large part to its advertising and push into mobile, according to The Wall Street Journal. Google is also experiencing success with its cloud services division. Parent company Alphabet reported 33 percent growth of its non-advertising business over the previous year, surpassing Wall Street expectations. “The strength of the quarter is about mobile,” said Google chief exec Sundar Pichai. “Our investment in mobile now underlines everything that we do today, from search and YouTube to Android and advertising.” Continue reading Google Reports Strong Quarter Based on Strength of Mobile

Twitter announced lackluster Q2 earnings, with $602 million in revenue for a net loss of $107 million. While the company improved over Q2 2015, when it lost $136.6 million, and monthly active users increased from 310 million to 313 million, its numbers fell short of Wall Street expectations and the company’s stock dropped more than 10 percent in after-hours trading. Despite new deals for live-streaming sports in the near future, the platform is not keeping up with the growth of social rivals such as Facebook, WhatsApp, Messenger, Snapchat and LinkedIn. Continue reading Twitter Struggles with Worst Quarterly Revenue Growth Ever

In a private meeting with no media in attendance, more than 100 executives from some of the world’s largest financial institutions met at NASDAQ’s New York City office. They gathered to delve deeper into the promise of blockchain, the technology behind Bitcoin, which became active in 2009. These financial institutions have been wary of Bitcoin, because users are anonymous and can engage in money-laundering and other banking violations. What they looked at was digital U.S. dollars, a “fiat currency” that avoids those risks. Continue reading Wall Street Firms Gather to Discuss Blockchain, Digital Dollars

According to an SEC filing, PayPal-owned peer-to-peer payment service Venmo is under investigation by the Federal Trade Commission to determine whether the company “engaged in deceptive or unfair practices in violation of the Federal Trade Commission Act.” PayPal received a Civil Investigative Demand (CID) from the FTC on March 28. “The CID could lead to an enforcement action and/or one or more consent orders,” explains PayPal, “which may result in substantial costs, including legal fees, fines, penalties, and remediation expenses and actions, and could require us to change aspects of the manner in which we operate Venmo.” Continue reading Popular Payment Service Venmo Under Federal Investigation

Apple’s 13-year run of quarterly revenue growth has come to an end; the company reported that revenue for its second fiscal quarter, ending March, declined 13 percent to $50.6 billion. The reasons are many: its huge size makes sustained momentum difficult; it has suffered setbacks in China, its second largest market; it lacks a hot new product; and, with iPhones accounting for half the smartphones in the U.S., phones have likely reached a saturation point. Sales of iPhones fell 16 percent in Q1 2016 compared to the same quarter last year. Continue reading Apple’s Growth Stalls, China Shutdown Could Signal Trouble

Twitter reported revenue of $595 million for Q1 2016, below Wall Street expectations, adding to its growing list of woes. User growth, an area of concern since its 2013 IPO, remains modest, with an average 310 million monthly users in Q1 2016, up from 305 in Q4 2015. But most of the growth came from outside the U.S., where markets are less mature and therefore less lucrative. One ray of hope is Twitter’s deal with the NFL to live-stream Thursday Night Football games, which has drawn interest from other sports leagues. Continue reading Twitter Hopes to Prove Live-Streaming Value with NFL Games

In Q4 2015, Twitter’s monthly active users declined by about 2 million, to 305 million worldwide, an indication of the social media company’s malaise that has dampened Wall Street enthusiasm. But Twitter just completed new research, using analytics firm Crimson Hexagon, resulting in data it hopes may turn around investors’ lukewarm perceptions. Analyzing tweets for 33 movies released in 2015, from trailer release to post-premiere, Crimson Hexagon came up with results that put a more positive spin on Twitter use. Continue reading Tweets and Seats: Twitter Studies Link to Box Office Success

Since Jack Dorsey returned last year as chief executive of Twitter, he has done everything he could think of to improve the company’s fortunes, including lay-offs, new executives and a board shake-up. Recent numbers, however, have shown that not much has changed — its monthly 320 million visitors in Q4 2015 are the same as the previous quarter. The pressure is on to find a formula that works, and Dorsey is betting that tweaking existing features and adding an algorithmic timeline might help sustain and build the user base. Continue reading Twitter Hopes to Attract Users with Improved Timeline Feature

Traditional TV networks are pulling out all stops to succeed with their non-traditional streaming platforms. CBS is launching a new “Star Trek” series in 2017, which will air exclusively on its CBS All Access app; HBO inked a deal with former “Daily Show” host Jon Stewart to create new content for HBO Now; and NBCUniversal is cranking out original series and specials for its Seeso comedy channel, due to launch in January. Meanwhile, Vice Media plans a 24/7-cable channel with A+E Networks. Continue reading Programming Free-for-All Favors Consumer Power of Choice

On the first day of Variety’s Big Data Summit, the main takeaway was that data — from online, set-top boxes, smartphones and even retail sales — has become a tidal wave that threatens to overwhelm even data experts. The industry needs data scientists capable of searching through the mass of data to find nuggets of insight and actionable data, making them highly sought-after, or, as AOL Publisher Platforms global head Tim Mahlman said, “rock stars.” “You can get lost (in data) if you’re not smart about it,” he said. Continue reading Big Data Summit: “Data Is a Tidal Wave” Overwhelming Experts

Twitter hasn’t kept up with other social media platforms with advertising offerings, say some critics, but newly reappointed chief executive Jack Dorsey hopes to buoy the company’s fortunes with an array of new video advertising products. One of Twitter’s major advantages from the advertiser’s point of view is its emphasis on international, national and local live events. Whether Dorsey’s bid to curry favor among advertisers works to appease Wall Street, however, remains to be seen. Continue reading Twitter Expands Video Ad Tools with Generous Revenue Share