Whitney Wolfe Herd

Bumble joins the AI buzz

This week, Bumble swipes right on AI, Uber records its second profitable quarter, and Disney+ adds 7 million new subscribers.

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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?

Stock analyst rating stating strong buy

*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.

Stock analyst rating saying hold

*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 MermaidGuardians 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

Stock analyst rating stating strong buy

*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.

Meet the authors

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James Ashoo

Senior Content Writer

James has been investing for over five years. His aim is to explain the hard stuff, easily! When he's not chewing your ear off about stocks and crypto, he'll most likely be telling bad jokes.

Harjas Singh

Harjas Singh

Chief Product Officer & Co-Founder

With a wealth of experience in fintech, Harjas is the man in the know when it comes to all things product. Investing features, chatting capabilities and thriving communities – he oversees all development on the Shares app!

Harry Harrison

Harry Harrison

Finance Writer

Harry is an experienced business writer, with a love for all things tech. In his free time, he enjoys reading, playing sport and winning at chess. He also loves posting inside the Shares app!