Earnings season is here! Today we’re looking at the the top digital marketing platforms and how they held up.

The Earnings Season Reports Are In


Here are the key numbers via Salvador Rodriquez on CNBC:

  • Earnings: $2.12 vs. $1.91 per share forecast by Refinitiv.
  • Revenue: $17.65 billion vs. $17.37 billion forecast by Refinitiv.
  • Daily active users: 1.62 billion vs. 1.61 billion forecast by FactSet.
  • Monthly active users: 2.45 billion vs. 2.45 billion forecast by FactSet.
  • Average revenue per user: $7.26 vs. $7.09 forecast by FactSet.

Facebook CEO Mark Zuckerberg in a statement. “We had a good quarter and our community and business continue to grow. We are focused on making progress on major social issues and building new experiences that improve people’s lives around the world.”

Zuckerberg also spoke on Facebook’s unwillingness to ban political ads. “Some people accuse us of allowing the speech because they think that all we care about is making money, and that’s wrong,” he said. Zuckerberg says ads from politicians will make up less than 0.5% of revenue next year. That feels like a massive case of missing the point, but I digress.


Here are the key numbers via Jennifer Elias on CNBC:

  • Earnings per share: $10.12 vs. $12.42 per share expected, per Refinitiv consensus estimates.
  • Revenue: $40.5 billion vs. $40.32 billion expected, per Refinitiv consensus estimates.
  • Traffic acquisition costs: $7.49 billion vs. $7.48 billion, according to FactSet.
  • Paid clicks on Google properties from Q3 2018 to Q3 2019: 18%
  • Cost-per-click on Google properties from Q3 2018 to Q3 2019: -2%

Google’s advertising revenue hit $33.92 billion in Q3, compared to $28.95 billion in Q3 of last year. Advertising still makes up the vast majority of Alphabet’s revenues. Pichai said that half of advertisers’ Search spend is now from automated bidding.


Here are the key numbers via Sara Salinas on CNBC:

  • Earnings per share: 17 cents, vs. 20 cents expected
  • Revenue: $823.7 million, vs. $874.0 million expected
  • Monetizable daily active users: 145 million

Twitter’s less than stellar showing is being attributed to “a number of headwinds” including advertising dips in July and August and product issues.

“In Q3 we discovered, and took steps to remediate bugs that primarily affected our legacy Mobile Application Promotion (MAP) product, impacting our ability to target ads and share data with measurement and ad partners,” the company said in its shareholder letter. “We believe that, in aggregate, these issues reduced year-over-year revenue growth by 3 or more points in Q3.”

Ad revenue for the quarter came in at $702 million, 8% higher than Q3 2018, but significantly less than the predicted $756 million by FactSet analysts.

Total ad engagements increased 23% year over year, and cost per engagement dropped 12%.


Here are the key stats via Salvador Rodriquez on CNBC:

  • Loss per share: 4 cents vs. 5 cents forecast by Refinitiv
  • Revenue: $446 million vs. $435.1 million forecast by Refinitiv
  • Global daily active users (DAUs): 210 million vs. 207 million forecast by FactSet
  • Average revenue per user: $2.12 vs. $2.10 forecast by FactSet

The company posted a slimmer-than-expected loss for the third quarter while exceeding expectations for user growth and revenue.

Snap’s user base grew by 3 million to 210 million daily active users. This is the third quarter in a row of growth for Snapchat, as Q1-Q3 2018 saw a user shrinkage.

When asked whether TikTok, a similar social video-sharing app, is competition for the platform, CEO Evan Spiegel told analysts, “The value they provide their community is very different than the value we provide ours to really empower communications with real friends…We’re excited to continue deepening that partnership and continue working together.”


Here are the key numbers for Amazon via Eugene Kim on CNBC:

  • EPS: $4.23 vs. $4.62, according to analysts surveyed by Refinitiv
  • Revenue: $70 billion vs. $68.8 billion, according to analysts surveyed by Refinitiv
  • AMAZON WEB SERVICES: $9 billion vs. $9.1 billion, according to analysts surveyed by FactSet

Amazon’s revenue grew 24% to $70 billion for the quarter, by the increased investment in free one-day shipping for Prime members. In fact, Kim points out that, Amazon spent over $800 million in each of the last two quarters to expand its free one-day delivery program to more products and regions. It expects to spend about $1.5 billion more in Q4 to continue building warehouse facilities and increasing product selection.

“Customers are buying more often and they’re buying more products,” Amazon CFO Brian Olsavsky aptly said during a call with reporters.


Here are the key earnings season numbers from William White on Markets Insider:

  • Spotify’s earnings per share are up 53.85% from 26 cents in the same period of the previous year.
  • Revenue for the quarter is up 28% from $1.50 billion in the third quarter of 2018.
  • Operating income increased to a profit from a loss during the same time last year.
  • Net income of roughly $267.50 million is much better than the $47.72 million in Q3 2018.
  • Monthly active users (MUA) of 248 million are up 30% YoY.

You can also find additional information from Spotify’s own press releases.

In particular, we found that the the number of ad supported MUA’s increased by 9% quarter-over-quarter to 141 million. For reference, premium MUA’s are at 113 million, up about 5% Q/Q.

Microsoft and LinkedIn

Emil Protalinski reports on Venture Beat for Microsoft’s earning’s report. Here are the numbers:

  • Revenue of $33.1 billion compared to last quarter’s $29.1 billion.
  • A net income of $10.7 billion vs Q1 2020’s $8.8 billion.
  • Earnings per share of $1.38 vs $1.14 in Q1 2020.

Much to our continued dismay, LinkedIn’s earnings are always tied to Microsoft’s. That means we’re lucky to learn much of anything. Here’s what we know: LinkedIn revenue jumped 25%.

For Q4’s earnings season, we’ll also look at Bing ad revenues.

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