Natalia Angulo reviewed on Fox Business’ ‘Tech Rewind‘ the top tech stories of the week, including Twitter Inc. (NYSE:TWTR), Yelp Inc. (NYSE:YELP), LinkedIn Corp. (NYSE:LNKD)’s quarterly earnings beating market expectations, while GoPro Inc. (NASDAQ:GPRO) reported a weak quarter. In addition, Facebook Inc. (NASDAQ:FB) unfolded another phase of its ‘mobile first’ strategy.
Twitter Inc. (NYSE:TWTR)’s stock rose 30% last Thursday as its second quarter earnings beat market estimates. The microblogging site also reported a 24% increase on the year, to 271 million monthly active users. However, the stock lost some of its momentum by the end of the week on a lower note.
LinkedIn Corp. (NYSE:LNKD) also posted revenue growth of 47%, beating estimates. The professional social network stock soared 15% on Thursday and closed 11.70% higher on Friday.
The second quarter also saw Yelp Inc. (NYSE:YELP) turning profitable as small business advertising on the website and mobile app gave the much needed push to its revenues.
However, GoPro Inc. (NASDAQ:GPRO), which reported earnings for the first time since its IPO, posted a bigger loss in the quarter, causing the wearable camera maker’s stocks to dip by 9% on Thursday and 15% on Friday.
Talking about new products and strategy, Angulo reported that e-commerce giant, Amazon.com, Inc. (NASDAQ:AMZN) had launched a new 3D printed products store that gave shoppers the option to choose from a huge range of customizable products.
Giving a roundup on the largest social network, she said,
“Facebook Inc. (NASDAQ:FB) is now forcing users to migrate to a new messenger app as it stops allowing mobile messaging on its main apps. The social network already separated the two apps in Europe, where users now send 12 billion messages a day.”
Facebook Inc. (NASDAQ:FB) also closed down its ‘gifts’ service earlier last week to promote its latest e-commerce ‘buy’ venture, Angulo added.
Airbnb Inc. and Uber Technologies Inc. plan to capitalize on the huge corporate travel industry to give a thrust to their growth. The startups will be launching updated versions of their apps, which will offer cheaper solutions for business travel.