Companies are continuing to report earnings for the first quarter of 2018, and this week the spotlight was on some of our favorite social media channels. Facebook (FB) and Twitter (TWTR) reported positive quarterly earnings, while Snapchat (SNAP) is scheduled to announce earnings early next week.
Good news for you and the markets
Strong earnings from Facebook and Twitter is good news for you as a MoneyLion Plus member. You’re invested in the Vanguard Total Stock Market ETF (VTI), which invests in both companies. In fact, Facebook is one of VTI’s 10 largest holdings (out of 3,610 holdings, as of 3/31/2018).
So if you thought all your hours of social media usage were going to waste, they may actually be adding to your bottom line. Continue to interact with your MoneyLion Plus community via the Facebook members group, and maybe you’ll even propel Facebook’s revenues (and your investment returns) higher! 😆
Digging into the earnings reports
The online news and social networking platform, Twitter, reported first-quarter results that beat most analysts’ expectations. Revenues increased by 21% to $665 million, well above the $605 million that analysts had anticipated. The company's earnings per share, or EPS, was $0.16, topping Wall Street’s $0.12 EPS expectation.
Facebook appeared to be unshaken by the alleged data-privacy scandal that surfaced in mid-March and by Mark Zuckerberg’s testimony before Congress. In fact, Facebook reported huge earnings and revenues in the first quarter. The social media giant earned $11.97 billion in quarterly revenue, exceeding the $11.41 billion predicted by analysts. The company’s EPS was $1.69, topping the $1.35 EPS previously anticipated.
Finally, Snapchat is scheduled to come out with its first-quarter report on May 1. The company recently announced the release of second-generation spectacles (a camera you can wear on your face). In recent months, the company has faced strong competition from Facebook-owned Instagram, which has impacted Snapchat’s user growth and resulted in analysts anticipating a loss of $0.28 per share.
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