Oil prices rebounded slightly on Friday but are still expected to show losses for the week due to concerns about slowing growth in the US and China. US crude futures rose 2.7% to $70.41 per barrel, while the Brent contract increased by 2.5% to $74.33 per barrel.
Twitter Earnings Report on July 22
2021-07-22 • Updated
What will happen?
Twitter, the US IT company, will present its earnings report for the second quarter on July 22 after the stock market closes (23:00 GMT+3). The release will be followed by an investor conference call at 1:00 MT, July 23.
What to expect?
Investors do not expect too much from the company’s report on Thursday. User expansion is slowing after the pandemic-driven bump, while the economic environment is becoming uncertain for growth stocks amid surging Delta variant cases.
In the first-quarter report, Twitter warned investors about a slowdown for the second period. For the rest of the 2021 year, the company predicts “low double digits” user growth, with the lowest numbers in the 2nd quarter.
Main rivals: Google, Facebook
Unlike main competitors, Twitter does not earn money from direct response advertising. Direct response advertising is the main feature small business uses to attract new customers, which is the reason it bumped after the lockdown was over. In the business model, Twitter relies on big brand advertising, which makes 85% of this total sale.
As the report will be posted during the post-market session, the price movements might be highly volatile. The short float is 2.61%, which means a huge growth should not be expected. It looks like after the weak report the price will drop down to the 50-period moving average at $67. If the price breaks this support, it will go down to $64.
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