3 Buzzing Social Media Stocks: Facebook Gets Local, Zynga Beats Wall Street, and Groupon’s New App
Facebook (NASDAQ:FB): The social media giant has upped its game against local biz competitors such as Yelp (NYSE:YELP), with new mobile pages that are redesigned with actions, local business details, and ratings in mind. Facebook is making a grab for traffic that flows through Yelp looking for hours, ratings, phone numbers and addresses, in hopes of making the social media site a more potent local commerce tool.
Zynga (NASDAQ:ZNGA): The social media gaming company beat Wall Street estimates, with earnings of $0.01 per share — beating by $0.05. Revenue of $229.8 million beat by $20 million, though it was down 20 percent year-over-year. Despite stronger than expected performance, shares fell over 13 percent in after-hours trading likely due to lower than anticipated second quarter guidance numbers.
Groupon Inc. (NASDAQ:GRPN): Not a whole lot of news has come from the daily deal giant since the dramatic departure of former CEO Andrew Mason, and the company’s vice president of mobile David Katz confirmed that it was more or less business as usual. Tuesday, though, saw the release of updated editions of its iPhone and Android apps, which now include a universal search feature that will allow users to search for marketplace deals in nearby areas, and include offers in addition to the the time-sensitive discount coupons.
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