Internet earnings trend
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Internet Services & Social Media Industry
Moreover, the practice of social distancing in a bid to contain the virus outbreak has bolstered growth of online shopping services globally, which, in turn, is expected to have remained a major tailwind. Further, the growing proliferation of video conferencing tools, thanks to the increasing remote working trend, is anticipated to have remained a positive in the quarter under review.
Additionally, increased user engagement on social media platforms, owing to the coronavirus outbreak-led lockdowns and shelter-at-place guidelines, is likely to have aided growth of the Internet companies that offer such platforms. Prospects for Internet Stocks In the coronavirus-hit world, Internet stocks have beengaining from the rapid adoption of cloud computing services, which are helping organizations to remotely process a lot of information, build and run crucial applications and services, and enable employees to work from anywhere across the globe.
Additionally, the emergence of remote health diagnostic and telehealth, which is spurring the Internet usage penetration, internet earnings trend likely to have been beneficial for Internet stocks in the third quarter.
Further, the increasing adoption of high-speed Internet services and the strengthening deployment of 5G technology have been tailwinds.
Also, the rising adoption of Internet-of-Things IoTand increasing proliferation of streaming services, online delivery services, online gaming and online payment services are expected to have aided the performance of the companies in the industry further.
Furthermore, the strengthening demand for SaaS-based or Software as a Service applications is expected to have remained another growth-driving factor for Internet stocks in the quarter under review.
Story continues How to Make the Right Pick?
With the presence of several industry participants, finding the right Internet stocks with the potential to beat on earnings can be daunting. Our proprietary methodology, however, makes this task fairly simple.
You could narrow down your choices by looking at the stocks that have the perfect combination of the two key elements: a Zacks Rank 1 Strong Buy2 Buy or 3 Hold and a internet earnings trend Earnings ESP. Earnings ESP is our proprietary methodology for determining the stocks that have the maximum chances of beating estimates at their next earnings announcement.
The Zacks Consensus Estimate for the bottom line has moved upward from a loss of 5 cents to a gain of 8 cents over the past 30 days.
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MercadoLibre, Inc. The Zacks Consensus Estimate for earnings has been revised upward by 1. Alphabet Inc.
Paycom Software, Inc. Etsy, Inc.
By Agence France-Presse Updated: 28 October IST Businesses are under pressure to engage customers online or lose them, according to Microsoft Highlights Microsoft Surface line of laptop computers also had a "blowout" quarter The shift to the cloud and work-from-home appears to be here to stay Microsoft is positioned to benefit with its Azure computing platform Microsoft on Tuesday said its profit in the recently ended quarter continued to soar as the pandemic boosted a trend toward business being taken care of in the internet cloud.
Facebook, Inc. Twitter, Inc.
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