We’re on the other end of nearly every single SaaS earnings report that you can name, with the exception of Slack, and shares of software companies are holding onto their year’s gains. Which means SaaS and cloud companies have made it through a somewhat steep gauntlet largely unscathed. There were exceptions, of course, but when […] …Continue Reading

The broader market melt up has helped buoy shares of Apple to new highs this morning. In early trading today, the market capitalization of the tech industry giant and FAAMG member crossed the $2 trillion mark before slipping just beneath the threshold. Shares of Apple have advanced just over 59% in 2020, despite the company’s […] …Continue Reading

Lyft is sticking to its previous target to hit quarterly adjusted profitability by the fourth period of 2021, a milestone it says it can achieve even with fewer rides. The company reiterated its quarterly adjusted profit target timeline — a milestone based on earnings before interest, taxes, depreciation and amortization — during its second-quarter earnings […] …Continue Reading

As TikTok’s fate remains in flux, its smaller rival Likee has been making waves around the world, garnering 150 million monthly active users as of this June. That’s according to the earnings report of Chinese internet company Joyy, the owner of Likee. For comparison, TikTok recorded about 200 million daily active users in early 2020, […] …Continue Reading

Today after the bell, Lyft reported its second-quarter financial performance. The American ride-hailing company’s results helped illustrate just how much the economy has changed in the wake of COVID-19 and its resulting disruptions to life, travel and work. Uber’s own results, which were shared last week, provided hints of what was coming for Lyft. The […] …Continue Reading

Today after the close of regular trading Tesla, a well-known American electric vehicle company, announced that it intends to split its shares 5 for 1. The split announcement comes after a sharp rally in the value of Tesla equity in recent quarters. The company’s shares quickly rallied on the news, picking up 8% in after-hours […] …Continue Reading

Uber reported its second-quarter earnings Thursday, and buried in the blizzard of less-than-rosy numbers is a stunning figure that illustrates how much the company has changed during the COVID-19 pandemic. Uber’s delivery business — better known as Uber Eats — is now bigger than its original and core ride-hailing division, based on adjusted net revenue. […] …Continue Reading

Today after the bell, American ride-hailing giant Uber released its second-quarter results. The company’s revenue fell compared to both the year-ago quarter (Q2 2019), and the sequentially preceding period (Q1 2020). Investors had anticipated Uber’s declines due to COVID-19, and the company had spent time earlier this year assuring the investing public that it had […] …Continue Reading

Apple has a strong quarter despite coronavirus, Impossible Foods is coming to Walmart and NASA launches a new Mars rover. Here’s your Daily Crunch for July 30, 2020. The big story: Apple beats Q3 expectations Apple’s latest earning report suggests that the company is thriving despite COVID-19, with revenue of $59.69 billion in the third […] …Continue Reading

Today after the bell, Apple, Alphabet, Facebook and Amazon reported their earnings results. Each bested expectations, and all but one are up sharply in after-hours trading. Coming on the heels of a day’s worth of congressional hearings in which the four companies highlighted competition and downplayed their market position, the results are loud. The group’s […] …Continue Reading

COVID-19 isn’t keeping Apple down. The company smashed Wall Street expectations, delivering Q3 revenue of $59.69 billion, beating down the $52.25 billion analysts had expected. The company also announced earnings per share of $2.58 compared to Wall Street expectation of $2.04 EPS. Despite the coronavirus pandemic, Apple’s overall revenue was up nearly 11% year-over-year, reflecting […] …Continue Reading

Tesla extended its profitability streak to four quarters today, its longest period of profitability to date according to Q2 earnings it disclosed after the market closed. Tesla hit that profitability mark despite nearly flat quarter-over-quarter revenues — and a 5% drop compared to the same period last year — thanks to a reduction in operating […] …Continue Reading

Today after the bell, Netflix reported its Q2 financial performance. After its second-quarter numbers were out, the popular video streaming service saw its value drop sharply, with its shares off 10% in after-hours trading as of the time of writing. What happened to the high-flying Netflix, a company that you might have expected to report […] …Continue Reading

After a heated run, SaaS and cloud stocks dipped sharply during regular trading on Monday. According to the category-tracking Bessemer cloud index, public SaaS and cloud stocks dropped around 6.5% today, a material blow to the value of some of the world’s most highly valued companies, measured by sector-averaged revenue multiples. After recovering all their […] …Continue Reading

After going private in 2016 after accepting a $32 per share, or $4.3 billion, price from Apollo Global Management, Rackspace is looking once again to the public markets. First going public in 2008, Rackspace is taking second aim at a public offering around 12 years after its initial debut. The company describes its business as […] …Continue Reading