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- Julieeeee22Julieeeee22
  ·2021-07-29
  Great reading informative
  GameSquare Esports Reports Strong Revenue Growth in Q2 2021 Driven by the Influencer Revenue Stream
  TORONTO, July 28, 2021 (GLOBE NEWSWIRE) -- GameSquare Esports Inc. (CSE: GSQ; FRA: 29Q1) (“GameSquar
  GameSquare Esports Reports Strong Revenue Growth in Q2 2021 Driven by the Influencer Revenue Stream
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- Julieeeee22Julieeeee22
  ·2021-07-29
  Good
  Facebook's slowdown warning hangs over strong ad sales, while Zuckerberg talks 'metaverse'
  (Reuters) -Facebook Inc said on Wednesday it expects revenue growth to “decelerate significantly,” s
  Facebook's slowdown warning hangs over strong ad sales, while Zuckerberg talks 'metaverse'
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(CSE: GSQ; FRA: 29Q1) (“GameSquar","content":"<p>TORONTO, July 28, 2021 (GLOBE NEWSWIRE) -- GameSquare Esports Inc. (CSE: GSQ; FRA: 29Q1) (“<b>GameSquare</b>”, “<b>GameSquare Esports</b>” or the “<b>Company</b>”), an international gaming and esports company, today announced its results for the second quarter ended May 31, 2021 (all amounts in CDN dollars, unless otherwise indicated). The Company has scheduled a conference call to discuss its Q2 FY2021 financial results and provide a business update on July 29, 2021, at 8:00am ET (5:00am PT). A complete set of Financial Statements and Management’s Discussion &amp; Analysis for the three and six-months ended May 31, 2021 are accessible on SEDAR at www.sedar.com under GameSquare’s profile.</p>\n<p><b>Q2 FY2021 Highlights</b></p>\n<ul>\n <li>GameSquare reported revenue of $1.1 million as Code Red’s influencer vertical had another strong quarter, and was up nearly 60% from Q1 FY2021, while talent management revenue grew by 15% versus Q1 FY2021;</li>\n <li>Ended the quarter with $4.3 million of cash on hand;</li>\n <li>Closed an upsized $7.0 million bought deal private placement in March;</li>\n <li>Closed the acquisition of Reciprocity, which includes earn outs for performance of up to US$7 million of revenue and US$1.4 million of EBITDA in the 12 months following the closing of the transaction;</li>\n <li>Announced select customer wins including production of the largest NCAA esports tournament with Van Wagner, The Drew League, and Dexerto;</li>\n <li>Named Tony Hawk and Jordan Belfort as advisors to the Company;</li>\n <li>Announced the passing of board member, Maurice J. Colson; and</li>\n <li>Appointed Paul LeBreux to the Board of Directors.</li>\n</ul>\n<p><b>Subsequent Events to Quarter End</b></p>\n<ul>\n <li>Acquired 100% of NextGen Tech, LLC. (dba. as Complexity Gaming) (“<b>Complexity</b>”), a leading esports organization and <a href=\"https://laohu8.com/S/AONE.U\">one</a> of only four esports organizations to have an exclusive partnership with Twitch;</li>\n <li>Closed a private placement for US$7.0 million, which was subscribed to and filled by the Jerry Jones family and Goff Capital, the former majority shareholders of Complexity;</li>\n <li>Closed a bought deal financing of $8.5 million led by Canaccord Genuity, Eight Capital, Haywood Securities and Echelon Wealth Partners;</li>\n <li>As at July 26, 2021, the Company had a record cash balance of nearly $15 million;</li>\n <li>Completed the acquisition of Swingman LLC (dba. Cut+Sew and Zoned) (“<b>Cut+Sew/Zoned</b>”), a digital lifestyle marketing agency;</li>\n <li>Appointed Paradigm Sports to GameSquare’s advisory board.</li>\n</ul>\n<p><b>Management Comments and Outlook</b></p>\n<p>“Code Red, our esports agency, had another strong quarter, with its ongoing focus on the influencer segment leading to growth of 57% over Q1 FY2021, and its talent management business growing more than15% versus the prior quarter,” said Justin Kenna, CEO of GameSquare. “We made rapid progress on our acquisition strategy in Q2 and into Q3. In Q2, we closed the Reciprocity acquisition and have focused on integration and advancing substantial commercial opportunities. The strength of our balance sheet and rapidly expanding platform capabilities has given large customers like Van Wagner the confidence to award us major contracts, including the production of the largest NCAA esports tournament. We expect these internal media, content and execution capabilities to accelerate the monetization of our recently acquired Complexity unit, an outstanding team-based organization.”</p>\n<p>“The acquisition of Complexity post quarter-end is transformational for GameSquare,” added Mr. Kenna. “Adding the Jones and Goff families as major investors and signing an agency of record deal with the Dallas Cowboys is an incredible milestone for GameSquare. As a top tier organization with a world-class CS:GO team, Complexity is a media entity unto itself, generating more than 3.2 billion viewer minutes annually with 3.4 million monthly active unique visitors. While the team is world-class, we are only starting to monetize Complexity’s tremendous potential. We believe that the outstanding talent at Code Red, GCN, and Cut+Sew/Zoned, our most recent acquisition, are equipped to accelerate our business objectives of revenue growth and profitability.”</p>\n<p>“Since going public in October 2020, we have successfully sourced, financed, purchased, and integrated accretive businesses,” said Kevin Wright, President of GameSquare. “We have acquired outstanding strategic assets that position us to capitalize on the accelerating growth of esports audiences. We are confident that we have the right mix of businesses and people to be a leader in bridging the gap between global brands and the massive esports audience through our unique blend of digital agency and team-based assets. With a record cash balance of nearly $15 million as of July 2021, we have the capability to invest in the monetization of our core asset portfolio. For the remainder of 2021, our focus will be on operational execution within our portfolio of companies. However, we will continue to look for opportunistic M&amp;A of great companies that operate in the digital agency vertical or are complementary to what we view as one of the most attractive areas of the esports ecosystem.”</p>\n<p><b>Financial Review</b></p>\n<p>GameSquare’s revenues were $1,106,816 for the three months ended May 31, 2021, and $2,152,071 for the six months ended May 31, 2021. The core business of Code Red showed strong sequential results as the influencer component of the business posted quarterly revenue of $714,808, a sequential increase of 57% over Q1 FY2021 revenue, and talent management revenue grew to $202,571, an increase of over 15% compared to Q1 FY2021.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"><b>Three months ended</b></td>\n   <td colspan=\"3\">Three months ended</td>\n   <td colspan=\"3\"><b>Six months ended</b></td>\n   <td colspan=\"4\">Six months ended</td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"><i>($ Canadian) </i></td>\n   <td colspan=\"3\"><b>May 31, 2021</b></td>\n   <td colspan=\"3\">May 31, 2020</td>\n   <td colspan=\"3\"><b>May 31, 2021</b></td>\n   <td colspan=\"3\">May 31, 2020</td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"><b>Revenues</b></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Talent management service</td>\n   <td><b>$</b></td>\n   <td><b> 202,571</b></td>\n   <td></td>\n   <td>$</td>\n   <td>-</td>\n   <td></td>\n   <td><b>$</b></td>\n   <td><b> 378,356</b></td>\n   <td></td>\n   <td>$</td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Influencer promotional fees</td>\n   <td></td>\n   <td><b>714,808</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>1,170,843</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Consulting fees</td>\n   <td></td>\n   <td><b>88,520</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>501,955</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Prize income and player revenue</td>\n   <td></td>\n   <td><b>86,886</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>86,886</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Production revenue</td>\n   <td></td>\n   <td><b>14,031</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>14,031</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Total Revenues</td>\n   <td></td>\n   <td><b>1,106,816</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>2,152,071</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Cost of sales</td>\n   <td></td>\n   <td><b>835,535</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>1,761,770</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Gross profit</td>\n   <td></td>\n   <td><b>271,281</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>390,301</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"><b>Other income</b></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Interest income</td>\n   <td></td>\n   <td><b>536</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>963</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Total other income</td>\n   <td></td>\n   <td><b>536</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>963</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"><b>Expenses</b></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Consulting and management fees</td>\n   <td></td>\n   <td><b>1,319,870</b></td>\n   <td></td>\n   <td></td>\n   <td>102,419</td>\n   <td></td>\n   <td></td>\n   <td><b>1,844,082</b></td>\n   <td></td>\n   <td></td>\n   <td>186,632</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Professional fees</td>\n   <td></td>\n   <td><b>369,885</b></td>\n   <td></td>\n   <td></td>\n   <td>26,310</td>\n   <td></td>\n   <td></td>\n   <td><b>420,051</b></td>\n   <td></td>\n   <td></td>\n   <td>33,810</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">General office expenses</td>\n   <td></td>\n   <td><b>392,946</b></td>\n   <td></td>\n   <td></td>\n   <td>1,294</td>\n   <td></td>\n   <td></td>\n   <td><b>466,710</b></td>\n   <td></td>\n   <td></td>\n   <td>2,258</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Travel expenses</td>\n   <td></td>\n   <td><b>122,582</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>122,843</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Shareholder communications and filing fees</td>\n   <td></td>\n   <td><b>65,228</b></td>\n   <td></td>\n   <td></td>\n   <td>8,865</td>\n   <td></td>\n   <td></td>\n   <td><b>121,899</b></td>\n   <td></td>\n   <td></td>\n   <td>10,000</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Interest expense</td>\n   <td></td>\n   <td><b>2,418</b></td>\n   <td></td>\n   <td></td>\n   <td>5,773</td>\n   <td></td>\n   <td></td>\n   <td><b>2,452</b></td>\n   <td></td>\n   <td></td>\n   <td>5,773</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Bad debt expense</td>\n   <td></td>\n   <td><b>58,151</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>58,151</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Foreign exchange loss</td>\n   <td></td>\n   <td><b>(26,154</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>(4,740</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Change in provision for reclamation deposit</td>\n   <td></td>\n   <td><b>-</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>(95,288</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Share-based compensation</td>\n   <td></td>\n   <td><b>664,961</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>758,310</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Transaction costs</td>\n   <td></td>\n   <td><b>9,141,820</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>9,141,820</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Amortization</td>\n   <td></td>\n   <td><b>724,637</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>848,141</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Total expenses</td>\n   <td></td>\n   <td><b>12,836,344</b></td>\n   <td></td>\n   <td></td>\n   <td>144,661</td>\n   <td></td>\n   <td></td>\n   <td><b>13,684,431</b></td>\n   <td></td>\n   <td></td>\n   <td>238,473</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Loss for the period before income taxes</td>\n   <td></td>\n   <td><b>(12,564,527</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>(144,661</td>\n   <td>)</td>\n   <td></td>\n   <td><b>(13,293,167</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>(238,473</td>\n   <td>)</td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Income tax (recovery)</td>\n   <td></td>\n   <td><b>(186,285</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>(225,329</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Loss for the period</td>\n   <td></td>\n   <td><b>(12,378,242</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>(144,661</td>\n   <td>)</td>\n   <td></td>\n   <td><b>(13,067,838</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>(238,473</td>\n   <td>)</td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"><b>Other comprehensive income</b></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td><i>Items that will subsequently be reclassified to operations:</i></td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Foreign currency translation</td>\n   <td></td>\n   <td><b>(337,283</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>(220,664</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"><b>Total comprehensive loss for the period</b></td>\n   <td><b>$</b></td>\n   <td><b> (12,715,525</b></td>\n   <td><b>)</b></td>\n   <td>$</td>\n   <td>(144,661</td>\n   <td>)</td>\n   <td><b>$</b></td>\n   <td><b> (13,288,502</b></td>\n   <td><b>)</b></td>\n   <td>$</td>\n   <td>(238,473</td>\n   <td>)</td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"><b>(Loss) profit for the period attributable to:</b></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Owners of the parent</td>\n   <td></td>\n   <td><b>(12,383,998</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>(144,661</td>\n   <td>)</td>\n   <td></td>\n   <td><b>(13,073,594</b></td>\n   <td><b>)</b></td>\n   <td></td>\n   <td>(238,473</td>\n   <td>)</td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Non-controlling interest</td>\n   <td></td>\n   <td><b>5,756</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n   <td><b>5,756</b></td>\n   <td></td>\n   <td></td>\n   <td>-</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\"></td>\n   <td><b>$</b></td>\n   <td><b> (12,378,242</b></td>\n   <td><b>)</b></td>\n   <td>$</td>\n   <td>(144,661</td>\n   <td>)</td>\n   <td><b>$</b></td>\n   <td><b> (13,067,838</b></td>\n   <td><b>)</b></td>\n   <td>$</td>\n   <td>(238,473</td>\n   <td>)</td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Basic and diluted net loss per share</td>\n   <td><b>$</b></td>\n   <td><b> (0.12</b></td>\n   <td><b>)</b></td>\n   <td>$</td>\n   <td>(0.01</td>\n   <td>)</td>\n   <td><b>$</b></td>\n   <td><b> (0.16</b></td>\n   <td><b>)</b></td>\n   <td>$</td>\n   <td>(0.01</td>\n   <td>)</td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td colspan=\"2\">Weighted average number of common shares outstanding - basic and diluted</td>\n   <td></td>\n   <td><b>106,555,112</b></td>\n   <td></td>\n   <td></td>\n   <td>20,000,000</td>\n   <td></td>\n   <td></td>\n   <td><b>79,659,921</b></td>\n   <td></td>\n   <td></td>\n   <td>20,000,000</td>\n   <td></td>\n   <td></td>\n  </tr>\n  <tr>\n   <td></td>\n   <td></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td colspan=\"3\"></td>\n   <td></td>\n  </tr>\n </tbody>\n</table>\n<p><b>Conference Call Details</b></p>\n<p>CEO Justin Kenna and President Kevin Wright are scheduled to host a conference call for the investment community to discuss the financial results for the three months ended May 31, 2021. Analysts and interested investors can join the call via the details below:</p>\n<p>Date: Thursday, July 29, 2021</p>\n<p>Time: 8:00am ET (5:00am PT)</p>\n<p>Phone: 1-800-319-4610 (Toll-free, USA and Canada); 604-638-5340 (Canada); 0808-101-2791 (UK)</p>\n<p>A replay will be available until August 12, 2021 by dialing 1-800-319-6413 or 1-604-638-9010 and entering passcode 7460.</p>\n<p><b>About GameSquare Esports Inc.</b></p>\n<p>GameSquare Esports Inc. is an international gaming and esports company headquartered in Toronto, Canada. The Company is seeking to acquire additional assets and entities serving the gaming and esports markets and, more broadly, in sports and entertainment. GameSquare owns a portfolio of companies including Code Red Esports Ltd. (“<b>Code</b> <b>Red</b>”), an esports talent agency serving the UK, Reciprocity Corp. (“<b>Reciprocity</b>”), which provides the Company access to Asia, Latin America and North America, NextGen Tech, LLC (dba as Complexity Gaming), a leading esports organization operating in the United States, and, most recently, Swingman LLC (dba Cut+Sew and Zoned), a gaming and lifestyle marketing agency based in Los Angeles, USA. Reciprocity’s gaming and esports assets include: a CrossFire franchise in China that it owns with its partner LGD Gaming, a 40% interest in a League of Legends team that competes in Latin America, and its wholly owned subsidiary corporation, GCN, Inc. (“<b>GCN</b>”), a digital media company focusing on the gaming and esports audience based in Los Angeles, USA.</p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameSquare Esports Reports Strong Revenue Growth in Q2 2021 Driven by the Influencer Revenue Stream</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameSquare Esports Reports Strong Revenue Growth in Q2 2021 Driven by the Influencer Revenue Stream\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-29 09:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18736143><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TORONTO, July 28, 2021 (GLOBE NEWSWIRE) -- GameSquare Esports Inc. (CSE: GSQ; FRA: 29Q1) (“GameSquare”, “GameSquare Esports” or the “Company”), an international gaming and esports company, today ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18736143\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.streetinsider.com/dr/news.php?id=18736143","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2155971391","content_text":"TORONTO, July 28, 2021 (GLOBE NEWSWIRE) -- GameSquare Esports Inc. (CSE: GSQ; FRA: 29Q1) (“GameSquare”, “GameSquare Esports” or the “Company”), an international gaming and esports company, today announced its results for the second quarter ended May 31, 2021 (all amounts in CDN dollars, unless otherwise indicated). The Company has scheduled a conference call to discuss its Q2 FY2021 financial results and provide a business update on July 29, 2021, at 8:00am ET (5:00am PT). A complete set of Financial Statements and Management’s Discussion & Analysis for the three and six-months ended May 31, 2021 are accessible on SEDAR at www.sedar.com under GameSquare’s profile.\nQ2 FY2021 Highlights\n\nGameSquare reported revenue of $1.1 million as Code Red’s influencer vertical had another strong quarter, and was up nearly 60% from Q1 FY2021, while talent management revenue grew by 15% versus Q1 FY2021;\nEnded the quarter with $4.3 million of cash on hand;\nClosed an upsized $7.0 million bought deal private placement in March;\nClosed the acquisition of Reciprocity, which includes earn outs for performance of up to US$7 million of revenue and US$1.4 million of EBITDA in the 12 months following the closing of the transaction;\nAnnounced select customer wins including production of the largest NCAA esports tournament with Van Wagner, The Drew League, and Dexerto;\nNamed Tony Hawk and Jordan Belfort as advisors to the Company;\nAnnounced the passing of board member, Maurice J. Colson; and\nAppointed Paul LeBreux to the Board of Directors.\n\nSubsequent Events to Quarter End\n\nAcquired 100% of NextGen Tech, LLC. (dba. as Complexity Gaming) (“Complexity”), a leading esports organization and one of only four esports organizations to have an exclusive partnership with Twitch;\nClosed a private placement for US$7.0 million, which was subscribed to and filled by the Jerry Jones family and Goff Capital, the former majority shareholders of Complexity;\nClosed a bought deal financing of $8.5 million led by Canaccord Genuity, Eight Capital, Haywood Securities and Echelon Wealth Partners;\nAs at July 26, 2021, the Company had a record cash balance of nearly $15 million;\nCompleted the acquisition of Swingman LLC (dba. Cut+Sew and Zoned) (“Cut+Sew/Zoned”), a digital lifestyle marketing agency;\nAppointed Paradigm Sports to GameSquare’s advisory board.\n\nManagement Comments and Outlook\n“Code Red, our esports agency, had another strong quarter, with its ongoing focus on the influencer segment leading to growth of 57% over Q1 FY2021, and its talent management business growing more than15% versus the prior quarter,” said Justin Kenna, CEO of GameSquare. “We made rapid progress on our acquisition strategy in Q2 and into Q3. In Q2, we closed the Reciprocity acquisition and have focused on integration and advancing substantial commercial opportunities. The strength of our balance sheet and rapidly expanding platform capabilities has given large customers like Van Wagner the confidence to award us major contracts, including the production of the largest NCAA esports tournament. We expect these internal media, content and execution capabilities to accelerate the monetization of our recently acquired Complexity unit, an outstanding team-based organization.”\n“The acquisition of Complexity post quarter-end is transformational for GameSquare,” added Mr. Kenna. “Adding the Jones and Goff families as major investors and signing an agency of record deal with the Dallas Cowboys is an incredible milestone for GameSquare. As a top tier organization with a world-class CS:GO team, Complexity is a media entity unto itself, generating more than 3.2 billion viewer minutes annually with 3.4 million monthly active unique visitors. While the team is world-class, we are only starting to monetize Complexity’s tremendous potential. We believe that the outstanding talent at Code Red, GCN, and Cut+Sew/Zoned, our most recent acquisition, are equipped to accelerate our business objectives of revenue growth and profitability.”\n“Since going public in October 2020, we have successfully sourced, financed, purchased, and integrated accretive businesses,” said Kevin Wright, President of GameSquare. “We have acquired outstanding strategic assets that position us to capitalize on the accelerating growth of esports audiences. We are confident that we have the right mix of businesses and people to be a leader in bridging the gap between global brands and the massive esports audience through our unique blend of digital agency and team-based assets. With a record cash balance of nearly $15 million as of July 2021, we have the capability to invest in the monetization of our core asset portfolio. For the remainder of 2021, our focus will be on operational execution within our portfolio of companies. However, we will continue to look for opportunistic M&A of great companies that operate in the digital agency vertical or are complementary to what we view as one of the most attractive areas of the esports ecosystem.”\nFinancial Review\nGameSquare’s revenues were $1,106,816 for the three months ended May 31, 2021, and $2,152,071 for the six months ended May 31, 2021. The core business of Code Red showed strong sequential results as the influencer component of the business posted quarterly revenue of $714,808, a sequential increase of 57% over Q1 FY2021 revenue, and talent management revenue grew to $202,571, an increase of over 15% compared to Q1 FY2021.\n\n\n\n\n\nThree months ended\nThree months ended\nSix months ended\nSix months ended\n\n\n($ Canadian) \nMay 31, 2021\nMay 31, 2020\nMay 31, 2021\nMay 31, 2020\n\n\n\nRevenues\n\n\n\n\n\n\n\nTalent management service\n$\n 202,571\n\n$\n-\n\n$\n 378,356\n\n$\n-\n\n\n\n\nInfluencer promotional fees\n\n714,808\n\n\n-\n\n\n1,170,843\n\n\n-\n\n\n\n\nConsulting fees\n\n88,520\n\n\n-\n\n\n501,955\n\n\n-\n\n\n\n\nPrize income and player revenue\n\n86,886\n\n\n-\n\n\n86,886\n\n\n-\n\n\n\n\nProduction revenue\n\n14,031\n\n\n-\n\n\n14,031\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal Revenues\n\n1,106,816\n\n\n-\n\n\n2,152,071\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nCost of sales\n\n835,535\n\n\n-\n\n\n1,761,770\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nGross profit\n\n271,281\n\n\n-\n\n\n390,301\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nOther income\n\n\n\n\n\n\n\nInterest income\n\n536\n\n\n-\n\n\n963\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal other income\n\n536\n\n\n-\n\n\n963\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nExpenses\n\n\n\n\n\n\n\nConsulting and management fees\n\n1,319,870\n\n\n102,419\n\n\n1,844,082\n\n\n186,632\n\n\n\n\nProfessional fees\n\n369,885\n\n\n26,310\n\n\n420,051\n\n\n33,810\n\n\n\n\nGeneral office expenses\n\n392,946\n\n\n1,294\n\n\n466,710\n\n\n2,258\n\n\n\n\nTravel expenses\n\n122,582\n\n\n-\n\n\n122,843\n\n\n-\n\n\n\n\nShareholder communications and filing fees\n\n65,228\n\n\n8,865\n\n\n121,899\n\n\n10,000\n\n\n\n\nInterest expense\n\n2,418\n\n\n5,773\n\n\n2,452\n\n\n5,773\n\n\n\n\nBad debt expense\n\n58,151\n\n\n-\n\n\n58,151\n\n\n-\n\n\n\n\nForeign exchange loss\n\n(26,154\n)\n\n-\n\n\n(4,740\n)\n\n-\n\n\n\n\nChange in provision for reclamation deposit\n\n-\n\n\n-\n\n\n(95,288\n)\n\n-\n\n\n\n\nShare-based compensation\n\n664,961\n\n\n-\n\n\n758,310\n\n\n-\n\n\n\n\nTransaction costs\n\n9,141,820\n\n\n-\n\n\n9,141,820\n\n\n-\n\n\n\n\nAmortization\n\n724,637\n\n\n-\n\n\n848,141\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal expenses\n\n12,836,344\n\n\n144,661\n\n\n13,684,431\n\n\n238,473\n\n\n\n\n\n\n\n\n\n\n\n\n\nLoss for the period before income taxes\n\n(12,564,527\n)\n\n(144,661\n)\n\n(13,293,167\n)\n\n(238,473\n)\n\n\n\nIncome tax (recovery)\n\n(186,285\n)\n\n-\n\n\n(225,329\n)\n\n-\n\n\n\n\nLoss for the period\n\n(12,378,242\n)\n\n(144,661\n)\n\n(13,067,838\n)\n\n(238,473\n)\n\n\n\n\n\n\n\n\n\n\n\n\nOther comprehensive income\n\n\n\n\n\n\n\nItems that will subsequently be reclassified to operations:\n\n\n\n\n\n\n\n\n\n\nForeign currency translation\n\n(337,283\n)\n\n-\n\n\n(220,664\n)\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal comprehensive loss for the period\n$\n (12,715,525\n)\n$\n(144,661\n)\n$\n (13,288,502\n)\n$\n(238,473\n)\n\n\n\n\n\n\n\n\n\n\n\n\n(Loss) profit for the period attributable to:\n\n\n\n\n\n\n\nOwners of the parent\n\n(12,383,998\n)\n\n(144,661\n)\n\n(13,073,594\n)\n\n(238,473\n)\n\n\n\nNon-controlling interest\n\n5,756\n\n\n-\n\n\n5,756\n\n\n-\n\n\n\n\n\n$\n (12,378,242\n)\n$\n(144,661\n)\n$\n (13,067,838\n)\n$\n(238,473\n)\n\n\n\nBasic and diluted net loss per share\n$\n (0.12\n)\n$\n(0.01\n)\n$\n (0.16\n)\n$\n(0.01\n)\n\n\n\n\n\n\n\n\n\n\n\n\nWeighted average number of common shares outstanding - basic and diluted\n\n106,555,112\n\n\n20,000,000\n\n\n79,659,921\n\n\n20,000,000\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nConference Call Details\nCEO Justin Kenna and President Kevin Wright are scheduled to host a conference call for the investment community to discuss the financial results for the three months ended May 31, 2021. Analysts and interested investors can join the call via the details below:\nDate: Thursday, July 29, 2021\nTime: 8:00am ET (5:00am PT)\nPhone: 1-800-319-4610 (Toll-free, USA and Canada); 604-638-5340 (Canada); 0808-101-2791 (UK)\nA replay will be available until August 12, 2021 by dialing 1-800-319-6413 or 1-604-638-9010 and entering passcode 7460.\nAbout GameSquare Esports Inc.\nGameSquare Esports Inc. is an international gaming and esports company headquartered in Toronto, Canada. The Company is seeking to acquire additional assets and entities serving the gaming and esports markets and, more broadly, in sports and entertainment. GameSquare owns a portfolio of companies including Code Red Esports Ltd. (“Code Red”), an esports talent agency serving the UK, Reciprocity Corp. (“Reciprocity”), which provides the Company access to Asia, Latin America and North America, NextGen Tech, LLC (dba as Complexity Gaming), a leading esports organization operating in the United States, and, most recently, Swingman LLC (dba Cut+Sew and Zoned), a gaming and lifestyle marketing agency based in Los Angeles, USA. Reciprocity’s gaming and esports assets include: a CrossFire franchise in China that it owns with its partner LGD Gaming, a 40% interest in a League of Legends team that competes in Latin America, and its wholly owned subsidiary corporation, GCN, Inc. (“GCN”), a digital media company focusing on the gaming and esports audience based in Los Angeles, USA.","news_type":1},"isVote":1,"tweetType":1,"viewCount":78,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801593657,"gmtCreate":1627521635379,"gmtModify":1703491555692,"author":{"id":"3583992852208769","authorId":"3583992852208769","name":"Julieeeee22","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583992852208769","authorIdStr":"3583992852208769"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/801593657","repostId":"1171529765","repostType":4,"repost":{"id":"1171529765","pubTimestamp":1627513623,"share":"https://ttm.financial/m/news/1171529765?lang=&edition=fundamental","pubTime":"2021-07-29 07:07","market":"us","language":"en","title":"Facebook's slowdown warning hangs over strong ad sales, while Zuckerberg talks 'metaverse'","url":"https://stock-news.laohu8.com/highlight/detail?id=1171529765","media":"Reuters","summary":"(Reuters) -Facebook Inc said on Wednesday it expects revenue growth to “decelerate significantly,” s","content":"<p>(Reuters) -Facebook Inc said on Wednesday it expects revenue growth to “decelerate significantly,” sending the social media giant’s shares down 3.5% in extended trading even as it reported strong ad sales.</p>\n<p>The warning overshadowed the company’s beat on Wall Street estimates for quarterly revenue, bolstered by increased advertising spending as businesses build their digital presence to cater to consumers spending more time and money online.</p>\n<p>Facebook said it expects Apple’s recent update to its iOS operating system to impact its ability to target ads and therefore ad revenue in the third quarter. The iPhone maker’s privacy changes make it harder for apps to track users and restrict advertisers from accessing valuable data for targeting ads.</p>\n<p>The company also announced on Wednesday that it would require anyone working at its U.S. offices to be vaccinated against COVID-19, joining Alphabet Inc and Netflix.</p>\n<p>Monthly active users came in at 2.90 billion, up 7% from the same period last year but missing analyst expectations of 2.92 billion and marking the slowest growth rate in at least three years, according to IBES data from Refinitiv.</p>\n<p>“The user growth slowdown is notable and highlights the engagement challenges as the world opens up. But importantly, Facebook is the most exposed to Apple’s privacy changes, and it looks like it is starting to have an impact to the outlook beginning in 3Q,” said Ygal Arounian, an analyst at Wedbush Securities.</p>\n<p>Brian Wieser, GroupM’s global president of business intelligence, said all social media companies would see slower growth in the second half of the year and that it would take more concrete warnings about activity in June and July for anyone to anticipate a “meaningful deceleration.”</p>\n<p>Facebook’s total revenue, which primarily consists of ad sales, rose about 56% to $29.08 billion in the second quarter from $18.69 billion a year earlier, beating analysts’ estimates, according to IBES data from Refinitiv.</p>\n<p>Its revenue from advertising rose 56% to $28.58 billion in the second quarter ended June 30, Facebook said. It pointed to a 47% increase in price per ad.</p>\n<p>“In the third and fourth quarters of 2021, we expect year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap periods of increasingly strong growth,” Chief Financial Officer Dave Wehner said in the earnings release.</p>\n<p>Net income in the second quarter more than doubled to $10.4 billion, or $3.61 per share. Analysts had expected a profit of $3.03 per share.</p>\n<p>The world’s largest social network has been ramping up its ecommerce efforts, which are expected to bring additional revenue to the company and make its ad inventory more valuable. The push will be key to how Facebook, which hosts more than 1 million online “Shops” on its main app and Instagram, can grow its ad business amid the impact of Apple’s changes.</p>\n<p>It is also on the offensive to attract top social media personalities and their fans, competing with Alphabet’s YouTube and short-video app TikTok, which recently hit 3 billion global downloads. Facebook said this month it would invest more than $1 billion to support content creators through the end of 2022.</p>\n<p>On a conference call with analysts, CEO Mark Zuckerberg also focused on another ambition for the company: the “metaverse.”</p>\n<p>Zuckerberg this week announced that Facebook, which has invested heavily in virtual reality and augmented reality, was setting up a team to work on building a shared digital world, which he is betting will be the successor to the mobile internet. Microsoft also dropped the buzzy Silicon Valley term on its earnings call this week, talking about its own plans for the converging digital and physical worlds.</p>\n<p>“Facebook has its eye on a sci-fi prize,” said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown. “This is little more than an ambition for Facebook at the moment...if the idea comes to fruition, it could be a valuable income source.”</p>\n<p>The company also continues to face pressure from global lawmakers and regulators, including from the U.S. Federal Trade Commission which has until Aug. 19 to refile its antitrust complaint against the company and from a group of states who said on Wednesday they would appeal the judge’s dismissal of their lawsuit. Facebook’s market cap hit $1 trillion for the first time last month when the judge threw out the original complaints.</p>\n<p>The company, which has long been under fire from lawmakers over misinformation and other abuses on its apps, has also come under renewed scrutiny from President Joe Biden’s administration over the handling of false claims about COVID-19. At Facebook’s office in Washington, D.C., on Wednesday, a group of critics set up an installation of body bags to protest the issue.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Facebook's slowdown warning hangs over strong ad sales, while Zuckerberg talks 'metaverse'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFacebook's slowdown warning hangs over strong ad sales, while Zuckerberg talks 'metaverse'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-29 07:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/facebook-results/update-5-facebooks-slowdown-warning-hangs-over-strong-ad-sales-while-zuckerberg-talks-metaverse-idUSL4N2P43YX><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) -Facebook Inc said on Wednesday it expects revenue growth to “decelerate significantly,” sending the social media giant’s shares down 3.5% in extended trading even as it reported strong ad ...</p>\n\n<a href=\"https://www.reuters.com/article/facebook-results/update-5-facebooks-slowdown-warning-hangs-over-strong-ad-sales-while-zuckerberg-talks-metaverse-idUSL4N2P43YX\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.reuters.com/article/facebook-results/update-5-facebooks-slowdown-warning-hangs-over-strong-ad-sales-while-zuckerberg-talks-metaverse-idUSL4N2P43YX","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171529765","content_text":"(Reuters) -Facebook Inc said on Wednesday it expects revenue growth to “decelerate significantly,” sending the social media giant’s shares down 3.5% in extended trading even as it reported strong ad sales.\nThe warning overshadowed the company’s beat on Wall Street estimates for quarterly revenue, bolstered by increased advertising spending as businesses build their digital presence to cater to consumers spending more time and money online.\nFacebook said it expects Apple’s recent update to its iOS operating system to impact its ability to target ads and therefore ad revenue in the third quarter. The iPhone maker’s privacy changes make it harder for apps to track users and restrict advertisers from accessing valuable data for targeting ads.\nThe company also announced on Wednesday that it would require anyone working at its U.S. offices to be vaccinated against COVID-19, joining Alphabet Inc and Netflix.\nMonthly active users came in at 2.90 billion, up 7% from the same period last year but missing analyst expectations of 2.92 billion and marking the slowest growth rate in at least three years, according to IBES data from Refinitiv.\n“The user growth slowdown is notable and highlights the engagement challenges as the world opens up. But importantly, Facebook is the most exposed to Apple’s privacy changes, and it looks like it is starting to have an impact to the outlook beginning in 3Q,” said Ygal Arounian, an analyst at Wedbush Securities.\nBrian Wieser, GroupM’s global president of business intelligence, said all social media companies would see slower growth in the second half of the year and that it would take more concrete warnings about activity in June and July for anyone to anticipate a “meaningful deceleration.”\nFacebook’s total revenue, which primarily consists of ad sales, rose about 56% to $29.08 billion in the second quarter from $18.69 billion a year earlier, beating analysts’ estimates, according to IBES data from Refinitiv.\nIts revenue from advertising rose 56% to $28.58 billion in the second quarter ended June 30, Facebook said. It pointed to a 47% increase in price per ad.\n“In the third and fourth quarters of 2021, we expect year-over-year total revenue growth rates to decelerate significantly on a sequential basis as we lap periods of increasingly strong growth,” Chief Financial Officer Dave Wehner said in the earnings release.\nNet income in the second quarter more than doubled to $10.4 billion, or $3.61 per share. Analysts had expected a profit of $3.03 per share.\nThe world’s largest social network has been ramping up its ecommerce efforts, which are expected to bring additional revenue to the company and make its ad inventory more valuable. The push will be key to how Facebook, which hosts more than 1 million online “Shops” on its main app and Instagram, can grow its ad business amid the impact of Apple’s changes.\nIt is also on the offensive to attract top social media personalities and their fans, competing with Alphabet’s YouTube and short-video app TikTok, which recently hit 3 billion global downloads. Facebook said this month it would invest more than $1 billion to support content creators through the end of 2022.\nOn a conference call with analysts, CEO Mark Zuckerberg also focused on another ambition for the company: the “metaverse.”\nZuckerberg this week announced that Facebook, which has invested heavily in virtual reality and augmented reality, was setting up a team to work on building a shared digital world, which he is betting will be the successor to the mobile internet. Microsoft also dropped the buzzy Silicon Valley term on its earnings call this week, talking about its own plans for the converging digital and physical worlds.\n“Facebook has its eye on a sci-fi prize,” said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown. “This is little more than an ambition for Facebook at the moment...if the idea comes to fruition, it could be a valuable income source.”\nThe company also continues to face pressure from global lawmakers and regulators, including from the U.S. Federal Trade Commission which has until Aug. 19 to refile its antitrust complaint against the company and from a group of states who said on Wednesday they would appeal the judge’s dismissal of their lawsuit. Facebook’s market cap hit $1 trillion for the first time last month when the judge threw out the original complaints.\nThe company, which has long been under fire from lawmakers over misinformation and other abuses on its apps, has also come under renewed scrutiny from President Joe Biden’s administration over the handling of false claims about COVID-19. At Facebook’s office in Washington, D.C., on Wednesday, a group of critics set up an installation of body bags to protest the issue.","news_type":1},"isVote":1,"tweetType":1,"viewCount":111,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}