Big Tech Inc. Wrapping up news from the biggest tech companies this week, a short digest of earnings results from companies that you care about is in order. Coinbase met its pre-released Q1 2020 earnings expectations, posting both huge revenue and profit gains. In short, the first quarter was a huge win for the crypto trading house. It had the same sort of quarter that likely led to Robinhood filing to go public. DoorDash blew the, er, doors off its own quarter, leading to its shares spiking by around 25% in todayâs trading. Thatâs one hell of a result. Sure, DoorDash is worth a lot less than it was at its peak, but the company had a great day all the same. Airbnb managed a roughly 2.5% gain today after reporting its own earnings yesterday. It also got an analyst upgrade to boot. In short, the company managed year-over-year revenue growth, but also detailed larger-than-anticipated losses thanks to some one-time items. Worth around $85 billion, Airbnb remains richly valued. And then there was Alibaba, which has lost around a quarter-trillion in value since it got into a scrap with its local administration and swung to a loss after it was served with a multibillion dollar fine by the Chinese government. But the e-commerce giantâs $28.6 billion in total revenue was up 64% compared to its year-ago result. Hot dang. Now you are all caught up! Have a lovely weekend, and weâll see you again Monday afternoon. |