Right as Twitter announced its Q2 earnings — the first report under interim-CEO Dorsey — two company execs announced their departure on Twitter.
Todd Jackson, former director of product management, and Christian Oestline, former vice president of product management, are leaving for Dropbox and Google respectively.
Jackson had been at the company for about a year and a half, and Oestline had been there about two.
Jackson will joining Dropbox as its head of product, replacing Ilya Fushman, who left for Index Ventures last month. Dropbox has been slow to innovate on its core product, and several sources told Business Insider that the product function at the company has been broken.
Oestline will be joining YouTube.
Thank you @Twitter for an incredible two years. Working with the awesome people at this company has been a highlight of my career.
After dropping 4.7% on Monday, Tesla Motors Inc (NASDAQ:TSLA) stock is rebounding today and is currently up over 4%. The stock surge came as Global Equities Research analyst Trip Chowdhry explains how General Electric Company’s (NYSE:GE) move into battery storage business is not a threat to the electric vehicle (EV) maker. On Monday, Tesla stock […]
Yelp shares fell as much as 15% in after-hours trading on Tuesday after the company slashed its outlook for full-year earnings.
In its second-quarter results, the company said it expects net revenues to be between $544 million and $550 million, which would be 54% higher year-over-year. Adjusted earnings are expected to be between $72 million and $78 million.
The company is lowering its outlook “based on slower sales headcount growth and the elimination of its brand advertising product.”
As for its most recent performance, the company posted revenues of $133.9 million, ahead of the consensus estimate for $133.5 million according to Bloomberg. Yelp posted a loss of 2 cents, worse than the estimate for 1 cent. Adjusted earnings per share came in at $0.12, versus the forecast for $0.16.
In the statement, CEO Jeremy Stoppelman said: “We continue to demonstrate solid topline growth, with total net revenue increasing 51% year over year to approximately $134 million.”