Table of Contents
Twitter wants the world to know that the service is doing just fine without former President Donald Trump. This January, the number of users grew faster than the average of the past four years, the short message service emphasised on Tuesday. Trump’s account was suspended indefinitely after his supporters attacked the US Capitol in early January.
In the past quarter, the growth in the number of users accelerated again somewhat. For some time now, Twitter has only mentioned the number of users that the service can reach daily with its advertising in its apps or in the web version. It rose from 187 to 192 million within three months. Twitter had cracked down harder on extremist views and misinformation about the virus and vaccines during the US election campaign and the Corona crisis. Some of the measures had had a “small but measurable” negative effect on user numbers.
Trade with the Best Forex Brokers for Social Trading
Revenue rose 28 per cent year-on-year to around $1.29 billion. Quarterly profits jumped from just under 119 million dollars to 222 million dollars. For the current quarter, Twitter expects at least a 16 per cent increase in turnover to 940 million dollars.
Investors sent Twitter’s NYSE-listed stock up 13.20 per cent to $67.77 in US trading by the close on Wednesday. In an initial after-hours reaction on Tuesday, the share price initially fell by five per cent.
Cisco struggles with strong competition
The network specialist Cisco holds out the prospect of a return to growth in the current quarter. Cisco anticipates sales to grow by 4.5 to 5.5 per cent, as the company announced after the US stock exchange closed on Tuesday. In the second business quarter, which ended on 23 January, sales stagnated at 12 billion dollars. The quarterly profit fell by 11.6 per cent to a good 2.5 billion dollars.
Cisco is actually in the business of products that are in high demand with working and learning from home in the Corona pandemic: Networking equipment and video conferencing software. But competition is fierce – and some Cisco customers, such as companies with their own networks, are holding back on investment while cloud services boom. The software division, which includes the video conferencing service Webex, brought in $1.35 billion in revenue.
Cisco shares, which are listed on the NASDAQ, lost 4.42 per cent to 46.36 US dollars.
Record results for Deutsche Börse
After the stock exchange’s close, business results of the DAX index member Deutsche Börse were still being published. Both the turbulence on the stock markets and the increased interest in trading due to the corona crisis brought the company higher profits last year. The bottom line was a 10 per cent higher adjusted surplus of 1.25 billion euros, as the stock exchange operator announced on Tuesday evening.
However, experts had expected an even larger profit and a higher dividend. The share price, which had recently been under pressure, rose slightly in the after-hours trading hours. CEO Theodor Weimer was confident for the current year. This year, net revenues are expected to rise to 3.5 billion euros and the operating result (Ebitda) to 2 billion euros. Shareholders are to receive a dividend of 3.00 euros per share, which is ten cents higher. Net revenues, i.e. revenues minus volume-related costs, rose by 9 per cent to 3.2 billion euros in 2020. Group costs also increased.
Société Générale suffers first annual loss in decades
The Corona crisis and the planned restructuring of the group have caused the first annual loss in more than three decades for the major French bank Société Générale in 2020. The bottom line was minus 258 million euros after a profit of 3.25 billion a year earlier, the institute announced in Paris on Wednesday. According to Bloomberg news agency records dating back to 1988, it was the first annual loss.
However, the bank earned more than analysts expected in the fourth quarter, which went down well in the financial market. The Société Générale share is currently up 3.65 per cent to 18.04 euros on the Paris stock exchange. However, the stock is still trading around 40 per cent cheaper than a year ago, before the Corona pandemic hit the world and the financial markets.
Uber goes under
In the fourth quarter, Uber posted a loss per share of 0.54 US dollars. Thus, the ride service provider performed slightly worse than analysts had expected, who had previously forecast EPS of -0.53 US dollars after -0.640 US dollars in the same period of the previous year.
Overall, the company’s revenue for the quarter was $3.165 billion, down from $3.747 billion a year earlier, and below analysts’ estimates of $3.61 billion.
On the NYSE, Uber shares lost 2.55 per cent to 61.57 US dollars in after-hours trading.
The world’s largest beverage producer, Coca-Cola, had to make significant cuts at the end of the year, given continuing burdens from the corona crisis. In the fourth quarter, profits fell by 29 per cent year-on-year to 1.5 billion US dollars, as the Pepsi rival announced in Atlanta on Wednesday. Group-wide sales fell five per cent to 8.6 billion dollars. However, Coca-Cola stressed that it was still on course for recovery after the slump in business at the beginning of the pandemic. The stock, which is included in the Dow Jones benchmark index, was up in early US trading.
Steff has been actively researching the financial services, trading and Forex industries for several years.
While putting numerous brokers and providers to the test, he understood that the markets and offers can be very different, complex and often confusing. This lead him to do exhaustive research and provide the best information for the average Joe trader.