Alibaba to invest 1 billion in cloud business expansion
Alibaba plans a 1 billion dollar investment in its cloud computing unit after opening a Silicon Valley data center as Amazon reports cloud revenue up 80 percent year over year. CEO Daniel Zhang highlights big data and cloud computing as core to Alibaba's future strategy.
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Facebooks Costs Jump Beats Grow While Shares Waver
Facebook reported 39 percent revenue growth to 4.04 billion in Q2, but costs rose 82 percent, driving net income down 9.1 percent to 719 million. Per share, 25 cents vs 30 cents a year ago. Adjusted 50 cents vs 47 cents expected. Shares fluctuated after hours. CFO Dave Wehner tempered expense guidance to 55 60 percent for 2015.
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Facebook Surges as Earnings Hit $4.04 Billion Revenue
Facebook reported 50 cent earnings and a 39 percent revenue rise to 4.04 billion, beating Wall Street estimates. Shares closed near a 52-week high after hours trading, with the company valued around 267.6 billion. Analysts cite mobile strategy, ads model, and key acquisitions as drivers.
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Gartner
Facebook merger strategy praised for wisdom and high batting average
Debra Ahe Williamson of eMarketer calls Facebook's merger strategy wise and effective as it blends WhatsApp and Instagram. The plan boosts ad revenue, pressures Google while Twitter lags, and positions Facebook as a more versatile tech player amid media, wearables, and search evolutions.
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Yelp falls on grim quarter as Levchin exits
Yelp tumbled 28 percent after reporting a second quarter loss of 1.3 million or two cents a share, versus a 2.7 million profit a year ago. The company cut full year revenue guidance from 574 million to 579 million, blaming weaker sales headcount growth and the shutdown of its brand advertising product. Max Levchin announced his departure as chairman.
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Levchin resigns Yelp chairmanship after 11 years
Max Levchin, Yelp chairman since 2004 and PayPal co founder, resigns effective immediately to pursue other interests. The board will consider a new chair at the September meeting. Yelp notes 83 million monthly mobile visitors in Q2 and that mobile traffic surpassed desktop for the first time. Revenue for Q3 expected at 139 to 142 million, below estimates. CEO Stoppelman remains optimistic about Yelp's local advertising and content strengths.
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PayPal
Yelp
Wall Street
Jeremy Stoppelman
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