Snap Q3 Earnings
Facebook Q3 Earnings
Facebook kicked off by letting us know that they are not Apple’s biggest fan at the moment. Thanks to a loss in conversion reporting and targeting accuracy, Facebook reported $29.01 billion in revenue instead of $29.45 billion as expected. But nevertheless, they persist. The social giant let listeners in on their plans to bounce back, which include more in-app shopping solutions and, most importantly, reporting improvements that are expected to resolve half of the current reporting loss by EOY.
Additional Q3 Facebook data highlights:
- → Impressions increased 9% YoY
- → Cost per impressions increased by 22% YoY
- → Expecting $31.5 billion Q4 revenue
Twitter Q3 Earnings
Twitter experienced 23% growth YoY during Q3 but missed earnings by 0.3% ($1.284 billion vs $1.285 billion). As a platform, Twitter served as the hub for Summer Olympics news and communication and thus, Summer Olympics ad dollars. Unlike Snap and Facebook, Twitter told their listeners that it is too early to understand the full impact of iOS 14.5 but that it has not been as severe as expected. Social Bulldog speculates that this is due to a large amount of Olympic brand dollars and without that edge, Twitter may start feeling the burn this quarter.
Shopify Q3 Earnings
Two words that Shopify removed from their vocabulary before their Q3 earnings call: “Facebook” and “Apple”. Shopify missed estimates by 4.4% ($1.1 billion vs $1.15 billion) and attributed soft revenue numbers to macroeconomic factors such as the wide release of COVID vaccines and the recovery of brick and mortar stores. They claimed these types of conditions will lead to slower revenue growth in Q4 and 2022 as well.
It was a difficult quarter for e-commerce and performance marketing. While changes to iOS 14 significantly impacted the industry as a whole, some parties mitigated the effects better than others. Shopify is correct, the macroeconomic landscape was drastically different than that of Q3 2020. Overall, we are looking forward to the improvements in reporting and targeting that Facebook plans to roll out. Until then, our current strategy proves to be the optimal way to run direct response ads on Facebook — simplification of ad sets, amplification of signal, and thoughtful testing of offers, creative and messaging.
We are looking forward to efficient times and reduced “headwinds” in November, December, and beyond!
— The Social Bulldog team
Shopify 27-point BFCM Checklist
The 27-Point Checklist to Prepare Your Store for Black Friday Cyber Monday
Snap Q3 21 Earnings Report
Snap plummets 22% after missing on revenue expectations
Facebook Q3 21 Earnings Report
Facebook shares rise as investors focus on earnings beat and look past whistleblower document dump
Twitter Q3 21 Earnings Report
Twitter shares rise after company says Apple privacy changes had less of an impact than expected on third-quarter results
Shopify Q3 21 Earnings Report
Shopify’s Third-Quarter Results Eclipsed by Fourth-Quarter Fears
Social Bulldog is a performance marketing agency and top-tier Facebook Business Partner — to learn more about our services or our referral program please reach out.