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
The software is to blame indonesian investigators say the faulty programming at boeing was the main cause of crashes in ethiopia and in the danger but shoddy maintenance and crude training also played a role. And only 40 percent of people in africa have Internet Access and those who do pay more than on any other continent. Also on the show back in court the ad to the Samsung Electronics and part that is Corruption Case is up for review. This is business africa. Offers welcome to plane crashes in indonesia and ethiopia shocked the world and sent the shares a plane manufacturer of boeing into a tailspin accident investigators in jakarta have now concluded it was a combination of design flaws in boeings 737 jet inadequate training and maintenance problems that led to the lie of their crash a year ago when 189 people lost their lives if one of those failures happened occurred the accident may have been avoided one of the investigators said. In a boeing 737 monks plunged into the java sea o
Some Life Insurance policies will start seeing vapors as smokers. The ecigarette health scare continues to pose risks. But first, our top story. Mark zuckerberg will get a firsthand look at the growing opposition to facebooks plan to create a cryptocurrency. He will testify october 23. The hearing will examine facebooks impact on the financial and housing industries. My first question is, how significant that it is zuckerberg . It is very significant. Anytime the ceo testifies, it is a big deal. I was there in april of 2018 when he last testified and it was a total zoo. Everyone wants to see him and asking questions. I imagine this will be the same. I know they had been trying to get sheryl sandberg. We wrote about that a couple of weeks ago. It looks like they got someone even better which is her boss. Taylor what do we know about the content of the hearing . Kurt this committee focuses on financial services. They also do housing stuff. Facebook has been accused with issues around its
We have details. And whistleblower speaks. Christopher wylie from the Cambridge Analytica scandal joins me. Highlevel trade talks picked up this week in washington after tapering off in july with no clear breakthroughs. Chinas vice premier was greeted by treasury secretary Steven Mnuchin and trade representative Robert Lighthizer before talks resumed thursday. The stakes were extremely high as President Donald Trump threatened to raise tariffs on 215 billion worth of chinese goods on october 15 if there was no progress. The Technology Sector paying close attention to those sessions as intellectual property is playing a prominent role in the negotiations. I spoke to someone from a firm who helps u. S. Firms protect intellectual property. Eric a fairly Large Company in china, just saw 100 million in revenue that files and protects intellectual property for clients that have previously mostly been in china and is now expanding into the u. S. Thats what we are doing here based out of bosto
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