Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
Solid iPhone sales boost Apple’s stock, pushing the world’s most profitable company closer to that $1T valuation. The Hustle Sponsored by Surging services and stable iPhone sales boosted Apple’s stock more than 4% Apple reported higher than expected earnings and...
By: Wes Schlagenhauf
August 1, 2018
Solid iPhone sales boost Apple’s stock, pushing the world’s most profitable company closer to that $1T valuation.
Surging services and stable iPhone sales boosted Apple’s stock more than 4%
Apple reported higher than expected earnings and revenue results for its 3rd quarter yesterday, bumping Apple’s market cap as high as $972B in after-hours trading.
As fears of a massive sell-off of tech stocks continue, Apple’s strong earnings should soothe the worried minds of investors -- and make Amazon sweat in the ongoing race to $1T.
Not ‘trillion-dollar’ good… but still pretty darn good
Although Q3 is typically Apple’s lowest performing quarter, the company reported positive results across the board with an overall 32% increase in profits. But, Apple investors should be particularly excited about the 31% growth in Apple’s services division.
Apples services (which include the app store, music-streaming, and iCloud storage) typically take a back seat to iPhone sales, but their growth proves Apple can compete beyond hardware.
It doesn’t hurt that Apple’s hardware sales also remained strong -- with iPhone sales increasing 20%, Apple watches and AirPods growing 37% (the only slight decrease was iPads and Macs, down 5%).
Frazzled tech investors can take a deep breath
After a lackluster earnings report wiped a historic $120B+ off Facebook’s market cap last week, investors feared a broader tech slump when Netflix, Amazon, and Alphabet stocks all subsequently slipped.
But now, thanks to Apple’s strong earnings and stable sales, tech investors can put aside the panic buttons and pick up the popcorn to watch the final leg of the race to $1T play out.
Just a Keynote away from $1T
Box office flop: MoviePass takes all the good things about MoviePass away to survive
You guys as tired of reading about MoviePass as we are of writing about it? Well, don’t take it for granted: Soon, it could be gone.
MoviePass, whose parent company borrowed $5m last week to keep the lights on, may have finally jumped the shark: On Monday, after users reported outages on the app, they laid out their new rules to stay afloat.
‘Say hello to my little survival plan…’
MoviePass is (well, was) a service that let subscribers pay a monthly fee of $9.95 to see multiple movies a month.
But, as of Monday, the subscription service announced they will soon raise prices to $14.95 a month, and limit availability for new, major-releases (we blame Mission Impossible).
The company said the changes aim to reduce its costs by 60% as they continue to take more measures to trim the fat.
We need to talk about Helios and Matheson…
If there’s any company suffering a bigger headache over MoviePass’s existence than MoviePass, it would be their parent company, Helios and Matheson Analytics.
The company reported an average cash deficit of $45m for both June and July, and last week did a 1-for-250 reverse stock split (merging floundering corporate stock to form smaller, more valuable shares) in an effort to keep their share price above $1 and avoid being kicked off the NASDAQ entirely.
Unfortunately, it didn’t help. After MoviePass announced the new rules, Helios and Matheson’s stock plunged 60% (shares most recently clocked at $0.46), flirting yet again with being delisted off the exchange.
Optoro raises $75m to help e-commerce retailers find new homes for returns
As the volume of e-commerce sales continues to grow (increasing 16% last year), so does the problem of e-commerce’s unruly alter-ego: returns.
To address the costly problem, ‘returns optimization’ startup Optoro raised $75m to expand its platform that helps e-tailers find new homes for returned e-commerce products
Riding growing e-commerce to success
Since 2010 -- the year Optoro was founded -- e-commerce has grown from justs 4.2% of overall retail sales to about 10% today. According to the Commerce Department, US e-commerce totaled $453.5B last year.
But as online purchases increase, so do online returns, posing a problem for retailers that can’t process a high volume of returned merch.
We’re talking half a billion
Last year, 10% of retail sales were returned, and e-commerce sales are returned at an even higher rate (up to 40%). Optoro estimates the annual market for US returns is $380B.
Since many e-commerce retailers don’t sell returns at full value, this growing volume of returns translates to huge losses. That’s where Optoro comes in: The platform uses data analytics and multi-channel analytics to find returns new homes, ensuring that losses stay as low as possible.
Now Optoro, which has raised $244.4m to date, will use this cash to expand its platform in time for the biggest blitz of the year: holiday returns.
Their marketing automation platform helps you manage and optimize your marketing efforts, from lead qualification and custom email campaigns to prospect pipelines and social calendars.
For agencies, they give you re-brandable client management tools to provide clients with rich insight at a price that helps you grow revenue. And for businesses, SharpSpring lets you finally make sense of your fragmented funnel.
Plus, their pricing is a fraction of the cost of competitors: Compare the top 6 marketing platforms right on their site (as a fellow lean company, we love this).