FT News Briefing Wednesday, August 7
Aug 7, 2019
Disney faces a downturn as it misses earnings estimates, causing stock concerns. Meanwhile, Facebook takes legal action against app developers for advertising fraud. Match Group boosts optimism with a raised earnings forecast after a surge in Tinder subscribers. Additionally, insights into the Trump administration's struggle with the dollar reveal limited options to influence its value. The podcast also delves into China's economic strategies and the challenges posed by the U.S.-China trade war.
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Disney's Earnings Miss
- Disney's box office success, including record-breaking films, wasn't enough to meet earnings expectations.
- Increased costs, especially from investments in streaming and the Fox acquisition, impacted their profits.
Facebook Sues Developers
- Facebook sued two app developers for click injection fraud, impacting their advertising revenue.
- The developers infected users' phones with malware to generate fake clicks on Facebook ads.
Match Group's Success
- Match Group's stock surged after exceeding earnings forecasts and raising its outlook.
- Tinder's subscriber growth, adding half a million in the quarter, drove the positive performance.