In today's video I look at fundamentals and recent news for Spotify (SPOT +0.97%), Tencent (TCEHY +1.21%), Digital Turbine (APPS 3.10%), and Fastly (FSLY 1.41%). Below I share a few highlights from the video.
- For Tencent's 2020 fiscal year, roughly one-third of its total revenue came from its gaming segment. On July 19, 2021, Tencent announced its plans to purchase Sumo Group, a British video game developer. This acquisition will contribute to Tencent's growth in the gaming market.
- Spotify stock price declined after the company reported its second-quarter 2021 earnings on July 28. The main reason for the stock price movement is the lack of growth from Spotify's monthly active users. During the earnings call, Spotify's management assured investors that there is a reverse trend and that user growth is back on track.
- On July 29, Digital Turbine and TikTok announce a distribution partnership in North America. The partnership expands on the current collaboration that both companies have in Latin America. Digital Turbine is scheduled to release its fiscal 2022 first-quarter earnings on August 9, 2021, after the market closes.
Click the video below for my full thoughts and analysis.
*Stock prices used were the closing prices of July 30, 2021. The video was published on July 31, 2021.
