Social Media Stocks Gone Positive During the Epidemic

Social Media Stocks Gone Positive During the Epidemic

Because of the coronavirus occurring worldwide, people have been at home for a long time. But now businesses are slowly returning to normal. Social media was at the forefront of the sectors that never stopped during this crisis. Unlike the global economy, these companies proved that social media is continuous without experiencing a virtual pause.

Facebook

Facebook Inc's (NASDAQ: FB) announcement of the Shops platform came at a time when small businesses needed the lifeline. By establishing Shops, Facebook not only helped many small businesses in need, but also helped economic recovery with this innovation in e-commerce. Other e-commerce platforms have benefited from the crisis as Etsy Inc's (NASDAQ: ETSY) doubled compared to three years ago and Shopify (NYSE: SHOP) became Canada's most valuable company during the epidemic. Facebook made a series of moves to keep its user base stable. Although the company warns of 'uncertainty' in the context of the future of the advertising business, it has experienced a significant increase in the number of new users using at least one of the Facebook applications in the quarter. It managed to keep its first quarter revenues above estimates, which increased by 17.6 percent year-on-year, reaching $ 17.74 billion.

Twitter

Many people were very active on Twitter (NYSE: TWTR) platform during the epidemic period. However, the company is currently in the limelight of political events. Recently, after President Trump called violence against American citizens, he created a model for appropriate "content management" on his page. Twitter closed the tweet with a warning. On April 30, Twitter reached $ 807.6 million in its first quarter 2020 non-GAAP earnings, with revenue of 2.6 percent per year, at $ 0.11 per share. it exceeded the 4.5 percent of the Zacks Consensus Estimate. The expected growth of the company for the next year was recorded as 43.9%.

Snap

Shares in Snap Inc (NYSE: SNAP), which saw an increase in users, rose 5% last Thursday. The company's popular app, Snapchat, gained 11 million daily active users in the first quarter of 2020, an increase of 20 percent compared to 2019. The time spent on voice and video calls increased by more than 50% in late March compared to the previous month. First quarter revenues increased 44 percent over the previous quarter to $ 462.5 million.