With their latest quarter results, tech giants such as Tesla (NASDAQ: TSLA), Amazon (NASDAQ: AMZN), Apple (NASDAQ: AAPL), Facebook (NASDAQ: FB) and Microsoft (NASDQ: MSFT), among others, erased any doubt that they can maintain their level of dominance. But even Big Tech faced issues related due to chip shortages and disrupted supply chains that made Apple and Amazon deliver first disappointing results in years. Moreover, there’s little doubt that both tech giants can mitigate the disruption in the quarters ahead. But last week, we also learned that many (if not each) of these companies ignored the noise and focused on doing what they are good at: proving the tech doubters wrong again.

Lyft

Lyft Inc (NASDAQ: LYFT)’s net loss for the third quarter shrank from 2020’s $459.5 million to $71.5 million. The company also posted an adjusted EBITDA profit of $67.3 million, a goal it met earlier than its rival Uber Technologies (NASDAQ: UBER). Revenue grew 13% quarter-over-quarter and 73% year-over-year due to 2020 comparable figures, but it also recorded record revenue per active rider at $45.63, which is up 14% YoY. With a materially improved driver supply and expected tailwinds, service levels are expected to further improve in the undergoing quarter after Lyft’s financials showed resiliency that supports a more positive earnings outlook.

Roku

Roku Inc’s (NASDAQ: ROKU) third quarter earnings revealed continued international expansion as management is targeting both new revenue streams as well as international markets. It already expanded into Germany with plans to enter Peru and Chile later this year. Aside from rapid revenue and account growth the company has enjoyed over the past year, benefiting from Apple’s Apple TV+ and Disney’s (NYSE: DIS) Disney+ platforms, Roku is also benefiting from a rising trend of advertising dollars being shifted from linear television to streaming. In simple words, it is a company that has been at the right place, at the right time. Aside from the company’s dominant market share in streaming advertising it owns with its Roku channel, Roku also gains revenue through subscriptions. However, stock tanked upon the report as management warned supply chain disruptions would slow its growth in the near term as well as pressure its profit margins.

Airbnb

Can Airbnb maintain its lofty valuation? The company who pioneered the home-sharing market showed it is weathering the Delta variant of the coronavirus as revenue grew 67% to $2.2 billion in the third quarter. With profits surging 280%, Airbnb Inc (NASDAQ: ABNB) saw its highest revenue and income ever, erasing concerns for its growth plans and maintenance of its lofty evaluation. Moreover, Airbnb has an attractive business model and competitive strengths that are consider superior to its rivals such as Expedia Group Inc (NASDAQ: EXPE) and TripAdvisor Inc (NASDAQ: TRIP).

Peloton

As travel resumes with people going back into the world, earnings of Peloton Interactive Inc (NASDAQ: PTON) confirm Americans are abandoning home gyms. The stationary bike and workout content company’s stock dropped by more than 30% as the company reported weaker than expected earnings due to a slump in revenue, while also cutting its annual forecast by more than 10%. Meanwhile, shares of Planet Fitness (NYSE: PLNT) rose 13% on November 4

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after the gum chain reported better than expected results. Aside from supply chain constraints and a drop in demand for home workouts, the company is also still dealing with the consequences of the public relations nightmare stemming from a recent fatal incident involving a child on its Tread+ product.

Despite the ongoing pandemic that sometimes seems to be never-ending, people are going back into the world- one that has been refined by COVID-19 and technological innovation.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full





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