The service, which charges users $3 a month for additional features like reading articles ad-free and undoing tweets after they've been sent, has been available on iOS in Canada and Australia since June.
On Tuesday, Twitter announced that it will be expanding to the U.S. and New Zealand and will also be available on Android.
Other Twitter Blue features include a reader mode for tweet threads, bookmarks, folders, and customizable themes and icons for the Twitter app. Members will also automatically be included in the Labs program that lets them know of new features before the general public.
In January, the company acquired newsletter company Revue as several major media personalities began writing paid newsletters for their followers.
"In continuing our commitment to strengthen and support publishers and a free press, a portion of the revenue from Twitter Blue subscription fees goes directly to publishers within our network,” Twitter project managers Sara Beykpour and Smita Gupta wrote in a blog post announcing the expansion. “Our goal is to help each publishing partner make 50% more per person than they would’ve made from serving ads to that person.”
However, Real Money contributor Jim Collins thinks Twitter is not a good investment. “Twitter is still an incredibly overvalued stock. How on earth is it worth $43.5 billion?,” he asks. Get more of his Twitter analysis and his trading strategies on Real Money.
“This is a barely profitable, tiny company that provides a horrible service -- or one that is routinely used by horrible people, anyway,” Collins wrote in a recent column for Real Money. “It generated a grand total of $1.284 billion in revenues in the third quarter. How on earth is it worth $43.5 billion? Granted, that's down from nearly $50 billion before the stock's recent swoon, but, again, it just makes no sense.”
From tech stocks to EVs and earnings, get more trading strategies and investing insights from the contributors on Real Money.
Collins says he bought some weekly puts ahead of the company’s latest results and has “been very happy” to see Twitter shares dropping since.
Here is a breakdown list of the technology and FAANG/MAMAA stocks to watch right now based on their performance over the past week:
Bumble Shares Slump: Wider-Than-Expected Loss
Bumble (BMBL) - Get Free Report shares dropped on Thursday after the online-dating platform reported a wider-than-expected loss for the third quarter. The deficit registered $10.7 million, or 6 cents a share, shrinking from $22.8 million, or 1 cent a share, in the year-earlier period. The FactSet analyst survey called for a loss of $4.7 million, or 1 cent a share.
Revenue jumped 24% to $201 million from $162.3 million a year earlier. Analysts expected revenue of $198.7 million. And adjusted earnings before interest, taxes, depreciation, and amortization hit $54.5 million, beating analysts' expectations of $49.6 million. As for earnings guidance, Bumble expects revenue of $208 million to $211 million for the fourth quarter, besting analysts’ estimate of $205.9 million.
Meta Workplace To Unite With Microsoft Teams
Meta Platforms undefined on Wednesday joined hands with tech giant Microsoft (MSFT) - Get Free Report to integrate its Workplace app with rival Microsoft Teams to enable a streamlined flow of remote-work-related communication between businesses. "You can now share important information from Workplace to Teams, with streaming from Teams Meetings to Workplace coming in 2022," the newsroom section for Workplace showed.
Reuters reported that the integration is largely aimed at "customers of both products." Meta, formerly known as Facebook (FB) - Get Free Report, launched Workplace five years ago and said it had 7 million paid subscribers in May. Microsoft Teams has a larger user base of 250 million users.
Apple Loses App Store Case Court Appeal
Apple (AAPL) - Get Free Report will have to allow alternative payment websites for digital transactions through the App Store, a federal judge ruled, rejecting the company's appeal to stay a previous decision. The decision by U.S. District Judge Yvonne Gonzalez Rogers in Oakland, Calif., means that developers could begin using alternative payment services starting in December. That in turn could potentially enable companies to reduce the 15% to 30% fee Apple charges for digital transactions.
Apple has argued that it would need more time to build new software in policies to replace its payment systems. The judge disagreed. Apple is blocked from forcing developers to use the App Store's payment system. The Cupertino, Calif., tech giant has not yet explained how its App Store policies would change under the order.
When Can You Use Venmo to Make Payments on Amazon?
PayPal (PYPL) - Get Free Report announced that its mobile payment app, Venmo, has an agreement with Amazon (AMZN) - Get Free Report to become one of its approved payment options. The date of the rollout is not set but could come in the first quarter of 2022.
Venmo's popularity has been increasing with over 80 million customers, putting it on course for $900 million in revenue this year. The partnership is expected to counteract the eBay EBAY payment processing relationship ending with PayPal that ended in 2021.
EU Upholds $2.8 bln Antitrust Fine for Google Parent Alphabet From 2017
Alphabet (GOOGL) - Get Free Report lost a round in a legal fight after the EU's General Court upheld a European Commission ruling against the company for antitrust infractions. The Mountain View, Calif., search, cloud-services and advertising giant is facing a 2.42 billion euro ($2.8 billion) fine in the case.
EU regulators ruled in 2017 that Google had pushed its own shopping services on its platforms. The company contested the ruling, leading to a years-long review process. The verdict can be appealed and taken to the EU's highest court. Alphabet told TheStreet that it would need to review the decision before deciding whether to appeal.
Microsoft Launched New Tools For Metaverse
Microsoft launched a set of tools to enable businesses to create immersive spaces with augmented and virtual reality where workers can meet using its software products like Microsoft Teams. The company is strengthening its cloud computing infrastructure and adapting its signature software products to create a more business-friendly version of the so-called metaverse.
"The public perception of the metaverse — as a futuristic world where plugged-in people recreate their whole lives online — is still a ways off. But the business uses are starting to be available now,” Microsoft Chief Executive Satya Nadella told Bloomberg Television on Nov.2.
Poshmark Posts Wider-Than-Expected Third-Quarter Loss
Poshmark (POSH) - Get Free Report shares plunged lower Wednesday after the online apparel resale platform posted a wider-than-expected third-quarter loss and warned the recent privacy changes from Apple would trigger higher marketing spend.
Poshmark said its loss for the three months ending in September was pegged at 9 cents per share, 2 cents wider than the Street consensus forecast, as revenues came in 3 million light of analysts' forecasts at $82.7 million. The company added that Apple's new privacy rules, which prevent sending targeted ads to customers without their consent, will both increase marketing costs and slow sales growth in the months ahead.
Disney Sees Disappointing Growth For Disney+; What Is Disney+ Day?
Walt Disney Co. (DIS) - Get Free Report shares slumped Thursday after the entertainment and media icon posted weaker-than-expected fourth-quarter earnings and disappointing additions to its Disney+ streaming service. Disney added 2.1 million new subscribers to its two-year-old Disney+ over the three months ending on October 2, the group's fiscal fourth quarter, notably shy of the FactSet forecast of around 10.2 million. The gains put the Disney+ total at 118.1 million, compared to 213.6 million for Netflix (NFLX) - Get Free Report as of the end of September.
The company is celebrating Disney+ Day on Nov. 12. It has been celebrating this day to recognize the release date of its OTT Platform. The service, which has over 116 million global subscribers, debuted on Nov. 12, 2019. To mark its second anniversary, Disney is offering $1.99 subscriptions for new and returning customers for a month.