Earnings Insights Q2 2020: MSFT, TWTR, SNAP, LUV, T
After Netflix and the banks kicked off earnings season last week, the companies reporting this week get a bit more diversified as different industries step into the spotlight. This week is the appetizer after last week’s amuse-bouche, and the next two weeks will constitute the main course of this earnings season.
Without further ado, let’s get into the earnings insights for companies reporting in the week starting July 20. Keep in mind that all the data below is desktop data only.
MSFT Earnings Insights
Microsoft Earnings Date: July 22, 2020
Teams’ incredible COVID spurred growth left Slack far behind.
- Microsoft Teams continued to grow at a torrid pace in Q2, with growth of 813% in MUVs to teams.microsoft.com. Microsoft now has over 33 million MUVs to its teams subdomain, almost three and a half times more than Slack’s 9.2 million MUVs.
- Analyzing visits to Microsoft.com, URLs containing the string “store/cart” using segment analysis reveals the number of visits increased 22.4% YOY, indicating a higher purchase intent for products sold on the website.
- MUVs to portal.azure.com, Microsoft’s cloud console, grew by 27.8% YOY. This represents a significant deceleration from the average growth rate of the past four quarters, which stands at 51.7%.
TWTR Earnings Insights
Twitter Earnings Date: July 23, 2020
Twitter’s massive growth in total pages viewed is a result of higher engagement, and less so of new users.
- The number of total page views for twitter.com in Q2 reached 140 billion, the highest figure on record. Year over year (YOY), total page views rose an astounding 91.1% This growth was mainly a result of more engaged users, as worldwide monthly unique visitors (MUVs) declined 2.8% YOY in Q2.
- The number of visits to twitter.com rose 18.6% YOY in Q2, while the number of pages viewed per visits increased 61% YOY. Twitter got more out of its existing users this quarter.
- Traffic to ads.twitter.com declined 2% YOY but rose 10.3% Quarter over quarter (QOQ). June 2020 was the first month since July 2019 to have positive YOY traffic growth to the ads subdomain.
LUV Earnings Insights
Southwest Earnings Date: July 23, 2020
Air travel has been deeply impacted by COVID, but the worst of it may be behind us as we begin Q3.
- Traffic to URLs containing “booking/confirmation” was down 66% YOY in Q2, as travelers remain reluctant to book new flights during the COVID pandemic. Traffic to these URLs fell 82% YOY in April, 64% in May, and 53% in June.
- This trend can also be seen in referral traffic from southwest.com. In Q2 2019, 13% of outgoing traffic was to PayPal domains as part of the checkout process. This number dropped to only 4% in Q2 2020, as fewer customers completed a plane ticket purchase.
- Unfortunately, traffic to “air/cancel-reservation” URLs remained high in Q2, even though the peak of cancellations happened in March. In Q2 2020, these pages were visited 46.8% more than in the comparable quarter last year.
T Earnings Insights
AT&T Earnings Date: July 23, 2020
AT&T’s HBO is suffering from a post-Game of Thrones hangover, but HBO MAX’s launch is showing positive preliminary results
- HBO MAX recently launched in late May, and the service already had 2.7 million MUVs in June in its first full month of operation
- The general HBO service is suffering from the post-Game of Thrones era, as MUVs to hbo.com fell 63.4% YOY. The comparable quarter last year coincides with the release of the final season of Game of Thrones, which is making this year’s figures pale in comparison. QOQ, MUVs to hbo.com increased by 21.2%.
- Traffic to the URL containing “buy/phones” on att.com rose 10% YOY, indicating an increased interest from consumers buying phones from AT&T’s website.
SNAP Earnings Insights
Snap Earnings Date: July 21
Interest in advertising on Snap was high in Q2, as well as the interest in the company’s new camera.
- Visits to Snap’s ads subdomain were up 63.4% YOY in Q2, driven in part by a very strong month of May, in which visits to the ads subdomain grew by 81% YOY.
- Snap’s ads subdomain also grew 5.2% QOQ, led by the two strongest months of traffic to the ads sunbdomain in May and April at #1 and #2 respectively.
- Snap’s new camera significantly increased the number of MUVs to snapcamera.snapchat.com. In April, 1.3 million MUVs visited the subdomain. The interest somewhat faded over the course of the quarter, but still remained relatively high with 439K MUVs in June.
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