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Bumble dips 5% as Whitney Wolfe Herd steps down 🐝
Change of the guard: Wolfe Herd became the world's youngest self-made female billionaire when she took Bumble public in 2021, but has now said it’s time to “pass on the baton to a leader and a woman I deeply respect”.
Time to pick up the slack: Slack boss Lidiane Jones will take Wolfe Herd’s place at a time when the dating app industry is losing paying users.
AI is coming: Jones said she wants Bumble to integrate AI features and “accelerate people finding the right person”, and since this announcement, the stock has regained 4%. Is AI coming for our love lives?
*Ratings are provided by analysts at Zacks, a leading investment research firm
Uber climbs 5% as it records a second profitable quarter 🚖
Breaking records: Uber has reported record ridership numbers this quarter which has helped it achieve a second straight quarterly profit.
Yearly high: Revenue is up 11% from this point last year, helping to generate $221 million in net income in the last three months. The share price has also hit its highest point this year, at almost $50 a share.
Driving change: Uber had a record-breaking 6.5 million drivers working this quarter, which helped it make more trips than ever before (2.4 billion ). The company’s focus on improving driver experience seems to be paying off.
*Ratings are provided by analysts at Zacks, a leading investment research firm
Disney jumps 4% as it vows to cut costs by $2 billion 💰
Profit, parks and sport: On Wednesday evening, Disney posted better-than-expected profit figures in its quarterly earnings, largely down to its theme park division and ESPN channel.
A $2 bill cut: The company also aims to save on costs without making any more job cuts. The cuts will most likely be made across its struggling linear TV business, as it looks to sell ABC Network and other owned TV stations.
Disney+ is improving: Little Mermaid, Guardians of the Galaxy: Vol. 3 and Ahsoka have all been key pieces of content, helping Disney+ add 7 million more subscribers this quarter, bringing the total count to 148 million.
*Ratings are provided by analysts at Zacks, a leading investment research firm
What have we learned this week? 🤓
Dating apps are on the decline: Whilst Tinder is working on its $500 a month plan to better monetise its shrinking subscriber base, new Bumble CEO Lidiane Jones is instead turning to AI. Will this rekindle the spark dating apps have been lacking?
Uber is finally answering investor concerns: Many analysts wondered if Uber could ever generate its own profit and not need to rely on investors, but it seems it can.
Disney+ is growing, but still has a way to go: With 148 million subscribers, it’s still 50 million subscribers off rival Prime Video and 100 million subscribers off Netflix.
Stock announcements this week 👀
Alibaba: Last quarter, the Chinese ecom giant beat analyst predictions, but can it do it again on Thursday 16th November?
Walmart: Shares hit an all-time high last week as the store underwent upgrades, expanded third-party marketplaces and redesigned its website. But how will earnings square up on Thursday 16th November?
Target: The retailer has shut nine of its stores in the last couple of months and is down 27% this year. But will earnings on Wednesday 15th November give the stock a much-needed boost?
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*Figures and ratings correct as of November 9th 2023.
Past performance does not guarantee future results. Capital at risk when investing. This content is for educational purposes only. Shares does not provide investment advice. If you are unsure about anything, please seek advice from an authorised financial advisor.
