Snap, Twitter Show Where the Party Is
Social media made a splash on Thursday as its second-quarter earnings kicked off. Both Twitter Inc. and Snap, Inc. reported better-than-expected quarters, beating Wall Street’s estimates on both their top and bottom lines. Twitter’s sales growth shows it might be gaining more traction incrementally, at least among advertisers, but Snap’s record usage and revenue growth show its Snapchat platform remains the life of the party. Taken together, the reports shed a positive light on what investors can expect next week from Facebook and Pinterest, which are set to report earnings on Wednesday and Thursday, respectively.