Shares are down in after hours trading. We will have a report. And, libra grilling. Facebook Ceo Mark Zuckerberg is anticipated to face lawmaker questions on the social networks controversial cryptocurrency on wednesday. We cover what to expect. First, our top story. Snap fell as much as 10 in late trading after reporting thirdquarter earnings. The Company Reported revenue and user growth beating analyst estimates. It has been boosted by an increase in downloads to the revamped android version. But questions remain about longterm monetization. To break it down for us, i want to bring in Jitendra Waral from bloomberg intelligence. First lets talk about the third quarter, daily active users. I have a chart here that i am showing in my terminal. Seems like those daily active users knocked it out of the park. Jitendra q3 numbers were pretty strong. It is the q4 guidance that fell short. Looking at the backdrop here, the stock is up 154 year to date. The valuation, to sustain that valuation
Maria we have a big show this morning. Joining the conversation, Deirdre Bolton is here this morning, real clear politics cofounder and president tom bevin and pwc partner, mitch rochell. Thank you for being here. We have a market under pressure as a result of some i guess digestion over this trade deal. Take a look at the markets where were looking at a triple digit decline this morning for the dow industrials. Bloomburg is reporting that china wants more talks before signing phase one of the strayed deal. The u. S. Trade deal. The u. S. And china made progress on friday. China agreed to buy 40 to 50 billion worth of Agricultural Products while the u. S. Will suspend a planned tariff increase set to go into effect tomorrow. Beijing addressing currency and Financial Services concerns but setting aside issues like intellectual property and forced transfer of technology. Senior counsel to the president Kellyanne Conway spoke with me yesterday and heres how she saw it. That would be two a
Number of homes, fire. A stressful few days for residents impacted by the fire. Most are back home but unfortunately some residents returning to find their homes damaged or destroyed by the seller and to fire. The family was evacuated safely here but the fire tore through the homes while they were gone and moved in about six months ago finished relationship you were here the Team Coverage watching evacuations will happen. All of them have been lifted the containment line around half of the fire. Someone hundred thousand evacuees returned to their homes late on saturday and early sunday. The fire burning nearly 2000 acres in two days across the Northern Edge of the san fernando valley. Cheryl schapiro has lived in the neighborhood for 30 years and said this is the fourth wildfire. This is the only one they could prepare for. The other ones had times to pack up their cars and get things ready. We got our dogs and medications and leave. We had no time to do anything. Reporter hurt home wa
Things are better around the rest of the bay. It is fine. The visibility 10 miles in San Francisco. The same story for livermore. Temperatures this morning and santa rosa are still in the 30s. 39 degrees. 42 and novato. Mill valley m 43 lafayette at about 45 in oakland we dipped down to 49 degrees. 39 walnut creek. A bit of a chilly start waking up. 43 inserted saratoga. 42 in palo alto. In san jose about 49 degrees. Morgan hill is in the 30s. Once the fog dissipates, and it will, we will actually be having another lovely sunny day. We stay with the cooler temperatures we had yesterday. We see the upper 60s at the coast and in the end it will work its way to the low 80s. Another day with sunshine and another system off of the pacific right now starting to get its act together. It will roll into the northwest. The question is whether it will bring rain to us. I will have the answer in the extended forecast. For now i will send over to sell to ask how things are doing with the commute. I
And, libra drilling. Facebook Ceo Mark Zuckerberg is anticipated to face lawmaker questions on the controversial cryptocurrency on wednesday. We cover what to expect. First, our top story. In latel as much as 10 trading after reporting thirdquarter earnings. Revenue and user growth beat analyst estimates. It has been boosted by an increase in downloads to the revamped android version. Questions remain about longterm monetization. Someone fromng in bloomberg intelligence. I have a chart here that i am showing in my terminal. Seems like those daily active users knocked it out of the park. Were prettys strong. Q4 guidance fell short. The stock is up 154 year to date. Evaluation, to sustain that valuation level, it fell short. The user number is the hardest one to really beat. Everything else is in their control. Monetization, cut costs if they want, but the user growth is the harder metric. The fact that they are projecting better than expected user growth in 4q as well, it is showing tha