SAN FRANCISCO (Reuters) – Twitter Inc reported its slowest pace of user growth during the fourth quarter, dimming hopes that the social media phenomenon can sustain its torrid pace of expansion and wiping out more than 10 percent of its value on Wednesday.
The San Francisco company posted better-than-expected quarterly revenue of $243 million in its first results as a public company. But investors focused on the anemic user growth, as well as a severe decline in timeline views, a measure of user engagement.
SAN FRANCISCO, Feb 4 (Reuters) – Twitter Inc, whose
stock has surged 150 percent since it went public in November,
has a lot to live up to when it reports quarterly earnings for
the first time on Wednesday.
A growing number of naysayers warn that Twitter’s stock is
greatly overpriced, and that even mediocre inaugural results
could deflate its soaring valuation, now several times that of
its closest social media peer, Facebook Inc.
SAN FRANCISCO (Reuters) – More than 100 million people will be glued to their TV screens on Sunday, when the Denver Broncos take on the Seattle Seahawks in America’s premier sporting contest, the Super Bowl.
But two fierce rivals, Facebook Inc and Twitter Inc, will also be clashing head-to-head on a “second screen” that TV viewers will tune in for the big game.
SAN FRANCISCO (Reuters) – Zynga Inc will shed 15 percent of its workforce to slash costs and buy mobile game developer NaturalMotion for $527 million to refresh a stalled games pipeline, moves that sent its stock soaring 20 percent in after-hours trading.
Chief Executive Officer Don Mattrick, hired last year, is taking aggressive action to revive a company that developed “Farmville” and once dominated gaming on Facebook Inc’s social network, but is now struggling to adapt to the rise of mobile gaming.
SAN FRANCISCO (Reuters) – Video game maker Zynga Inc said on Thursday it would slash its workforce by 15 percent and posted a narrower-than expected quarterly loss, sending shares up 20 percent.
The San Francisco-based game company, known for its “Farmville” game, is expected to cut about 314 jobs as part of an expanded cost savings plan, the company said.
The privately held Chinese online marketplace posted 51 percent revenue growth during the July-September quarter compared with a year prior, the lowest rate in three quarters, while margins shrank for the second consecutive period. But it swung from a loss one year ago to $792 million in net income ahead of what is billed as the biggest initial public offering since Facebook Inc’s (FB.O: Quote, Profile, Research, Stock Buzz) 2012 float.
SAN FRANCISCO (Reuters) – Stripe Inc has joined the billion-dollar club.
The online payment-processing startup announced Wednesday it raised $80 million from venture capital investors in a deal that values Stripe at a hefty $1.75 billion.
The transaction places the 90-person firm in the rarefied company of startups valued at more than $1 billion just three years after brothers Patrick and John Collison, now ages 25 and 23, debuted their service.
LAS VEGAS, Jan 10 (Reuters) – LG Electronics executive
Frank Lee bounded onto a Las Vegas stage this week
to show off a new phone for the U.S. market, the 6-inch G-Flex,
which boasts a curved screen.
Two hours later, in another room at the same hotel, Huawei
Technologies’ Richard Yu unveiled the razor-thin Ascend
Mate II, bragging it had a battery life of nearly two days.
LAS VEGAS/SAN FRANCISCO, Jan 7 (Reuters) – Yahoo Inc
Chief Executive Marissa Mayer unveiled a handful of new
products, including a competitor to Google Inc’s
predictive search technology for smartphones, in a debut
appearance at the Consumer Electronics Show that drew a big
The former Google executive who took the reins at Yahoo in
the summer of 2012, has moved aggressively to revamp the
struggling Internet company’s business with product makeovers,
acquisitions and a renewed focus on its media offerings.
SAN FRANCISCO (Reuters) – Snapchat, the red-hot private messaging service, said on Thursday that it knew for months about a security loophole that allowed hackers this week to harvest millions of phone numbers and announced changes to its systems.
An anonymous group called Snapchat DB posted the usernames and phone numbers of 4.6 million Snapchat users on New Year’s Eve, days after the startup – headed by 23-year old founder Evan Spiegel – brushed off warnings that its app still contained security loopholes.