Alphabet posts strong revenue on video market, stock surges
Alphabet Inc , Google's parent, posted a 21.3 percent increase in second-quarter revenue, exceeding analysts' expectations, as the tech giant continued to nudge its vast advertising business toward mobile and capitalized on the boom in video. The sharp revenue growth suggests that Google is successfully navigating the high-stakes transition from desktop to mobile advertising, said Colin Gillis, an analyst with BGC Partners. Advertisers typically pay less for user clicks on mobile ads than on desktop ads, Google's traditional strength, but the strong earnings performance suggest that is beginning to change, he said.
Amazon revenue beats estimates as cloud sales surge
Amazon's web retail sales in the United States and internationally, the core of the company's business, also topped expectations, and it forecast revenue ahead of expectations for the third quarter. Shares of Amazon, the world's biggest online merchant, were up 2 percent in after-hours trading. "They crushed estimates," said Michael Pachter, analyst at Wedbush Securities.
Oracle to gain cloud clout with NetSuite deal; Ellison profits
Oracle Corp said on Thursday it would buy NetSuite Inc for about $9.3 billion, a deal that gives it a bigger share in the fast-growing cloud computing business and also means a big payday for billionaire Larry Ellison. In addition to being Oracle's executive chairman, entities Ellison beneficially owns hold about 40 percent of NetSuite's shares as of February, according to a regulatory filing. Corporate governance consultants said his links to both companies would increase scrutiny of the deal, but added its structure and strategic sense for Oracle meant it would likely pass.
Facebook shares hit record high as it beats estimates again
The social networking giant beat market expectations for profit and revenue yet again in the latest quarter, pushing up its shares to a record high on Thursday and allowing it to overtake Warren Buffett's Berkshire Hathaway Inc as the fifth biggest U.S. company by market capitalization. Facebook's shares rose as much as 4 percent to $128.33, boosting its market value by $14 billion to $367 billion - enough to eclipse Berkshire's market cap of about $355 billion. At least 24 brokerages raised target prices on Facebook's stock, with a median target of $150.
Expedia revenue misses estimates on higher promotions, discounts
(Reuters) - Expedia Inc , the world's largest online travel services company, reported smaller-than-expected quarterly revenue due to higher promotions for its member loyalty program and discounts to promote new hotel listings. Expedia said revenue per room night fell 5 percent in the second quarter ended June 30 and is expected to decrease through the year 2016. The recent spate of attacks in Europe have had an impact on bookings, Chief Financial Officer Mark Okerstrom told Reuters in an interview.
Baidu posts biggest profit decline since going public
(Reuters) - Baidu Inc , China's largest Internet search company, posted its steepest-ever quarterly profit decline and slowest growth in revenue in nearly eight years, hit by a healthcare scandal that ensnared the company this year. Public uproar has hounded Baidu after a student suffering from a fatal form of cancer blamed the company for directing him to suspect and ultimately ineffectual treatment. Regulators responded by slapping curbs on the firm's lucrative healthcare advertising business, spurring Baidu to lower its revenue forecasts for the second quarter.
Watch Matt Damon grow up in supercut that spans 28 years
Matt Damon is one of those actors who has become one of the most recognizable and bankable stars in the movie industry. Burger Fiction has put together a great 13-minute supercut of all the times Matt Damon appeared in film and television, capturing both his range of roles and maturation as a living organism. The clip starts all the way back in 1988 with a young Matt Damon appearing in Mystic Pizza all the way to older, grizzled Matt Damon in this week’s movie Matt Damon Beats Up Bad Guys, or as the marketing materials call it, Jason Bourne.
CBS All Access and Showtime streaming services have about 1 million subscribers each
The company says its All Access and Showtime subscription services have 2 million total subscribers, with user bases evenly split between the two. "That’s well ahead of where we’d thought we’d be this early in the game," CBS CEO Les Moonves said today on the company's quarterly earnings call, according to The Wrap. All Access was the first internet TV service to launch from one of the major big-name networks. With the addition of Showtime OTT (over-the-top) in July 2015, the network has a viable and relatively inexpensive set of options for interested viewers to stream CBS programming live and on-demand.
How two coders cracked all the secrets of Pokemon Go
The thing that makes Pokemon Go enjoyable--apart from the endless nostalgia trip--is the game's sense of discovery. You have to actually go out into the world on adventures to make meaningful progress in the game, in stark contrast to Candy Crush. But as you'd expect from a game this popular, people are making guides and maps to ease the burden on new players. The most well known is The Silph Road, an encyclopedia of knowledge for any Pokemoners. Gizmodo 's Bryan Menegus met the duo that founded the site, and sheds some light on how and why you go about making a giant Pokemon database for free. DON'T MISS: iPhone hack finally lets you play Pokemon Go in landscape mode The Silph Road wasn't always meant to be a repository of Pokemon information. Originally, it was meant to facilitate in-game trading. When that wasn't a feature at launch (although it may still be in the works), the founders neatly pivoted into making a map of where Pokemon lurk in the real world. Their volunteer-driven database exists as a layer on top of Google Maps. Users submit reports when they sight Pokemon in the wild, which helps other users be more focused in their searching. But as Gizmodo explains, this is just the beginning: "All that is just a prelude to the launch of their webapp, which they only discuss in vague terms, but it’s purpose is to take advantage of the chance personal encounters Pokémon Go encourages. Silph wants to translate their online community into codified physical space. “In your neighborhood, everybody’s going to be grouped together automatically via the webapp and it will allow you to say[…]‘Hey everybody on Instinct, I want to take down these two gyms,’” Moops explains excitedly, “It’s a way of allowing the community to reach out to each other without having to use real-world knowledge of each other.” Silph has had problems with growing too fast: servers have been taken to breaking point, and the mass of users strains Sliph's connection to Google Maps. But despite the problems, the founders are still delighted with their site, which has grown exponentially alongside Pokemon Go. The full interview is well worth a read.