Google's Strong Quarter: Daily Crunch

Google has published its most recent earnings report, Spotify is preparing for price adjustments, and Excel is becoming more accommodating to personalized data types. This is your Daily Crunch for October 29, 2020.

Key development: Google experienced a strong quarter

Alphabet, Google’s parent company, unveiled its third-quarter earnings this afternoon, exceeding Wall Street forecasts largely due to YouTube’s performance, which generated $5.0 billion in revenue—an increase from $3.8 billion during Q3 2019.

Google Cloud also demonstrated growth, with revenue climbing from $2.4 billion last year to $3.44 billion in the latest quarter. In total, Alphabet reported revenue of $46.2 billion and earnings per share of $16.40, compared to analyst expectations of $42.88 billion in revenue and $11.21 EPS.

Following the report, the company’s stock price increased by 8.5% during after-hours trading.

Major technology companies

Spotify’s CEO indicates the company will ‘implement further price increases’ — CEO Daniel Ek stated that these adjustments will occur in Spotify’s more established markets, although specific plans were not detailed.

Microsoft enables users to integrate custom data types into Excel — This functionality allows for the creation of a “customer” data type, for instance, incorporating comprehensive customer information from an external service directly into Excel.

Reasons why Apple’s Q4 earnings will appear different this year — Due to a delayed iPhone launch this year, Apple’s latest release fell outside the timeframe for inclusion in Q4 results.

Startups, funding, and venture capital

Donut introduces Watercooler, a streamlined platform for online coworker interaction — The company also announced a total funding of $12 million, with Accel leading the investment.

Atmos, a one-click housing startup, secures an additional $4M from Khosla, real estate investors, and TikTok personality Josh Richards — CEO Nick Donahue reports that users have begun designing the “initial twelve homes” on the platform.

Commissary Club aims to foster community among formerly incarcerated individuals — While 70 Million Jobs concentrates on employment opportunities for people with criminal records, Commissary Club is intended as a space for community building.

Insights and analysis from Extra Crunch

European startup funding surged in Q3, but early-stage deals appeared to decline — The ongoing trends of later-stage and larger funding rounds are reshaping the private capital environment.

PayPal is well-positioned to lead in the ‘buy now, pay later’ market — Button’s Stephen Milbank argues that the primary obstacle to wider adoption of buy-now-pay-later services is their limited availability.

Changes to Twitter’s API access are driving away third-party developers — On August 12, Twitter launched a complete overhaul of its 2012 API.

(Note: Extra Crunch is our subscription service, dedicated to providing accessible information about startups. You can register here.)

Other news

Europe plans to restrict tech companies from prioritizing their own services and utilizing third-party data — Commission EVP Margrethe Vestager confirmed that upcoming legislation, expected in a few weeks, will seek to prohibit what she termed “unfair self-preferencing.”

Comcast reports nearly 22M Peacock sign-ups — However, the number of paid subscribers versus free users remains unclear.

Examining tech optimism amidst the current economic climate — The newest episode of Equity explores significant startup opportunities for the next decade.

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