Just earlier this month, Facebook (FB) - Get Facebook, Inc. Class A Report announced that its Messenger platform had reached 1.2 billion users. On Thursday, the company was able to announce another user-based milestone, as its Instagram property hit 700 million users.
It took just four months to reach the milestone, an impressive feat no doubt. While popular with younger users, Instagram has had to resort to blatantly copying some of Snap's (SNAP) - Get Snap, Inc. Class A Report top features in order to keep users actively engaged.
This isn't a bad thing per se. In fact, it really shows just how powerful Facebook and Instagram have become. Even though it was borrowing features from other platforms, users have rapidly embraced them. That could mean trouble for Snapchat down the stretch.
It's just one more component that's keeping the Facebook engine churning, as the stock hit a new 52-week in Wednesday's session. User growth continues to pile up at a rapid pace, which pushes ad revenues higher. Thanks to its big margins, these top-line gains trickle down to the bottom line. This drives the stock higher, as investors continue to cheer more profits.
Purchasing Instagram for some-$1 billion in 2012 was one of CEO Mark Zuckerberg's best moves.
Shares of Facebook closed at $146.56 Wednesday, up 0.05% after hitting new 52-week and all-time highs.
At one point, Tesla's (TSLA) - Get Tesla Inc Report Model S held the No. 1 spot among Consumer Reports' ultra luxury cars list. However, that's changed now that CP has moved the vehicle down to No. 3.
So what happened? Where Tesla's batteries catching fire like a Samsung (SSNLF) phone? Have new vehicles arrived in the market that are far more attractive?
In CP's view, no. Instead, the publication said Tesla has "taken too long to enable automatic emergency braking, which used to come standard on vehicles the company produced before late October 2016 and which is supposed to help prevent crashes," according to SiliconBeat.
Tesla said it will add the feature in an update to its vehicles on Thursday. CP isn't having it though. They reasoned that they were "assured" the feature would be ready by the end of 2016. Now in late-April, the nearly five-month long wait was too much.
Consumer Reports also lowered its rating for the Model X for the same reason. However, unlike the decline to 85 from 87 for the Model S (again, putting it No. 3), the Model X sits near the bottom of the luxury midsize SUV category, with a rating that fell to 56 from 58.
Shares of Tesla closed at $310.17 Wednesday, down 1.2% despite hitting a new 52-week and all-time high during the session.
Think Twitter (TWTR) - Get Twitter, Inc. Report losing out on the NFL streaming deal to Amazon (AMZN) - Get Amazon.com, Inc. Report is going to stop the company from upping its streaming-video game? Think again.
Investors were certainly disappointed that Twitter - which had done pretty well in year one - wasn't about t0 secure a second year of streaming live Thursday Night NFL football games. Instead, Amazon's $50 million bid for the rights (five-fold what Twitter paid the year before) won out.
That was a blow for Twitter. But the company came back with more plans of streaming on its own. CFO and COO Anthony Noto said the company plans to air live video 24/7. This includes both its mobile app and desktop platforms. Noto told BuzzFeed that "our goal is to be a dependable place so that when you want to see what's happening, you think of going to Twitter."
That has to be music to investors ears. While it's unclear what route Twitter will take in this broadcasting effort, one thing is clear: Twitter is the source for live news for millions of people. Be it sports, politics, finance or global events. If you want breaking news, you best tune into Twitter.
So if Twitter can take that up a notch, and say build out non-stop video coverage of various events, situations news, and entertainment, it could have a serious impact on its user growth.
Shares of Twitter closed at $15.82 Wednesday, up 7.9% after the company beat on earnings per share and revenue expectations.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.