Disney’s earnings take a hit as pandemic wreaks havoc on theme parks business August 4, 2020 Disney reported a profitable third quarter but missed analysts’ expectations as it battled the effect of coronavirus on its theme parks business. Revenue for the quarter was $11.78bn, substantially less than the $20.35bn in the comparable period, and missing the expected $12.39bn. Net loss from continuing operations was $4.72bn, or $2.61 per share, in the [...]
Whatsapp launches fact check feature in bid to curb fake news August 4, 2020 Whatsapp has introduced a fact checking feature allowing users to cross-examine the content of viral messages, as the Facebook-owned messaging app attempts to weed out misinformation across the platform. The new feature, which is being rolled out in six countries including the UK from today, will allow users to perform a Google search on forwarded [...]
Rupert Murdoch’s son quits News Corp over ‘editorial disagreements’ August 2, 2020 Media mogul Rupert Murdoch’s youngest son has quit the board of News Corporation citing “disagreements over editorial content”. James Murdoch, once considered a potential successor to his father’s media empire, announced his resignation in a bombshell letter, disclosed by News Corp in a regulatory filing over the weekend. “My resignation is due to disagreements over [...]
Google parent Alphabet sees revenue fall for first time ever July 30, 2020 Google parent Alphabet saw revenue fall for the first time in its history today, although it beat analyst expectations for its second quarter earnings. Revenue fell to $38.3bn from $38.9bn in the second quarter, compared to Refinitiv estimates of $37.4bn. It also beat expectations for earnings per share, which came in at $10.13, instead of [...]
Facebook smashes revenue expectations as more people login in lockdown July 30, 2020 Social media behemoth Facebook has smashed analyst expectations in the second quarter, beating predictions for advertising revenue, earnings per share and user numbers. Shares in the social network shot up 7.8 per cent in after hours trading. In total, revenue rose from $16.9bn last year to $18.7bn in the past three months, ahead of analyst [...]
Tiktok sets up $2bn fund to poach creators from rivals July 30, 2020 Tiktok has today revealed it will be putting more than $2bn aside over the next three years to pay creators on its platform, in a bid to attract more influencers from rivals Instagram and Youtube. Around $300m of that fund will go to creators in the UK and Europe, while $1bn will be set aside [...]
Tories turn to Linkedin to recruit £100k host of White House-style briefings July 29, 2020 Boris Johnson has launched a search for a new £100,000-a-year spokesperson to front Downing Street’s press briefings, as the Prime Minister looks to step back from the limelight. The Conservatives posted the vacancy on their Linkedin page this morning, describing it as a “unique opportunity” to work at the heart of the political circuit. The [...]
Turkey passes controversial law to regulate social media content July 29, 2020 Turkey today passed a law which allows the government to control social media platforms, despite strong criticism that it will increase censorship in the country. The law requires foreign social media sites to appoint representatives based in Turkey to address authorities’ concerns over content. Officials can set deadlines for removal of material they take exception [...]
Rising demand boosts Spotify to 138m paid users July 29, 2020 Spotify said today it had recovered from a coronavirus-related damp start to the second quarter, beating Wall Street expectations to report 138m in paid users. Subscribers to its Premium service, which accounts for most of the company’s revenue, were up 27 per cent from a year earlier. Analyst had on average forecast the company to [...]
Amber Heard slams Johnny Depp trial as ‘incredibly painful’ July 28, 2020 Amber Heard has described ex-husband Johnny Depp’s libel trial at the High Court as “incredibly painful”, adding that it has been “traumatic” to broadcast intimate details of her life to the public over the past few weeks. Depp is suing the Sun’s publisher News Group Newspapers (NGN) and the Sun’s executive editor Dan Wootton over [...]