welcome to "squawk alley," i'm carl quintanilla with jon fortt and julia boorstin from separate locations. another choppy day as we work our way farther from the flag line china tensions are upset by this pfizer news and there's earnings the calendar marches on with microsoft and tesla. tonight, julia, even as we try to process the results from last night, including snap. >> yeah, absolutely. we see snap shares down nearly 9% after reporting yesterday afternoon. let's take a dive deeper into snap's quarter stifel's john eggbert and lloyd wamsley of deutsche bank joins us now gentlemen, you both have buys on this stock, and there was interesting commentary from snap about how they're expecting lower user growth in the third quarter, and they're also anticipating there will be significant revenue headwinds, even though the first 19 days of the quarter they showed 32% revenue growth so jon, tell me, why are you so bullish? >> well, i'm bullish because of the long-term story. and i think that the underlying trends are still intact. on the short term, it sounds like the third quarter will have

facebook, apple, all on the move we have full coverage standing by jon fortt on alphabet, julia boors boorstin digging in on apple. josh lipton has the latest >> reporter: apple says the stock split is to make the stock more accessible to a broad base of investors iphone revenue is blowing past expectations $26.4 billion. i did have the chance to catch up with apple's ceo tim cook we talked about those iphone demand trends and the mix in the quarter. cook telling me iphone 11 is the most popular iphone and we had a great launch, he says, on iphone se during the quarter. it was also very strong, an uptick in switchers, meaning android switchers, that we were happy to see and the iphone se is clearly helping with that i asked cook about those broader work from home trends, how is that benefiting apple's products and services during the quarter. cook says it definitely is, it definitely has boosted, cook saying, mac and ipad, we see those picking up for productivity we've son several school buys of ipads. we have the strongest lineup in both mac and ipads than we've ever had, a combination of tho

julia boorstin following the facebook saga for us julia. >> this week facebook southeastern executives busy calling the brands boycotting them facebook trying to tell them about the steps they've taken in the past week to crack down on hate speech. the organizers for the stop hate for profit boycott said more than 500 companies including target and unilever committed to pause something social media advertising. mark zuckerberg takes these matters seriously and don't benefit from hate but said we're not going to change our policies or approach on anything because of a threat to a small percent to our revenue or any percent tonight our revenue. facebook has a track record of responding to advertiser pressure it responded to procter & gamble's demands it remove violent and offensive content in 2017 and to target's demands that it remove the sale of illegal drugs and broad demands for independent verification of advertising views on the platform while facebook shares are down about 1% today, pretty much flat over the past five days, laura martin with a hold rating on the stock lowered her

get right to julia boorstin. julia? >> james murdoch resigning from the news corp.rd of directors with a letter to the board saying that his resignation is due to disagreements of content by the companies news outlets and other decisions. that's in his letter that is submitted to the board included in the s.e.c. filing notable move and speaks to the split within that murdoch family over some of the political content of news corp. >> we know, julia, already there's a family rift of james and his wife and his brother lockland over climate change denialism by fox news and the other outlets and not a surprise with the division. >> perhaps not surprisingly james donated to the trump campaign fund and startups in the world and backing some climate change initiatives as you mentioned. >> thank you mike, comment on news corp.? >> yeah. so, you know, one of the things that news corp. is contending with isn't just the news department but obviously they have some challenges in other areas of the business including issues related to sports that are just a by-product of the prep

let's get to julia boorstin with the details. julia? >> that's right. microsoft is in talks to acquire tiktok from the parent company chinese bike dance this comes after president trump said earlier today that he's considering banning tiktok or considering taking other options around tiktok which coulden collude forcing bike dance to sell that company. tiktok valued at $50 billion, about half of bite dance's valuation has raised concerns with u.s. authorities of user privacy. tiktok telling us it's confident in the long-term success of the platform saying while we do not comment on rumors or speculation we are confident in the long-term success of tiktok. and that they're motivated by the passion of the hundreds of millions of users and committed to protecting the safety there's note of strategic sense to resolve the security issues and also give microsoft a crown jewel in the consumer social media front at a time that facebook and google under massive regulatory scrutiny and for microsoft it would be a meaningful move away from its focus on the enterpr

julia boorstin has more on the safety, health, and financial challenges the company is now facing >>ney's largest park walt disney world in orlando is starting its reopening this comes after downtown disney the outdoor mall by its anaheim park reopened with masks and social distancing required this is an important moment for disney's park and resorts division which last year was its largest division by revenue and its biggest driver of earnings growth analyst michael nathanson estimates disney lost more than $1 billion between april and june at its domestic parks due to their closures. and this comes as disney's shares are at a cross roads. trading in the middle of the stock's 52 week high and 52 week low. down from 17% over the past year now, analysts are bullish on average with 13 buy or overweight ratings, 11 holds, and 1 sell nathanson tells us, quote, the swing factor at disney is indeed parks. the question is when will park earnings return back to calendar year 2019 levels that depends on the pace of infections, the health of the economy, and the consumers' willingness to trave

julia boorstin with the details in zuckerberg's testimony. >> reporter: that's right, melissa. in his written testimony mark zuckerberg defending facebook's scale and reach saying they face plenty of competition when it comes to the advertising market. and in his written testimony he says facebook became successful the american way, saying, quote, we started with nothing and provided better products as i understand our laws, companies aren't bad just because they are big zuckerberg making three key points in defense of facebook's size first saying, quote, our story would not have been possible without u.s. laws that encourage competition and innovation he points to the challenge from china saying facebook believes in the american values of democracy and free expression. china is building its own version of the internet focused on very different ideas and exporting their vision to other countries. second, zuckerberg defending the acquisition of instagram and whatsapp saying they became what they are thanks to facebook's infrastructure and third, saying facebook is asking for mor

the return of visitors to theme parks for disney's bottom line for that and more, let's turn to julia boorstin julia? >> kelly, there is a lot riding on disney's move to reopen disney park. the summer is the park's busiest season and the parks division is the biggest earning revenue. this past quarter disney lost an estimated $1 billion due to those domestic parks' closures, according to analyst michael nathanson. disney is starting its phased reopening of disney world in orlando tomorrow after yesterday it started reopening downtown disney -- that's the outdoor mall in anaheim park -- with masks and social distancing, of course now disney world is implementing a range of health cautions in addition to mandating masks and having social distancing, they are able to avoid crowds around those rides the success of disney does depend on disney plus. its numbers are bolstering with the addition of "hamilton" last weekend. we're waiting to see whether live sports restart as planned, beginning, of course, with the nba. then there's the future of theatrical movie releases. they've been totally on hold

let's get to julia boorstin on that >> yeah, twitter grew, growing their monetizing value from the year earlier quarter the addition of $20 far exceeded expectations and the addition of seven million new users and revenue declined more than expected following 19% from a year earlier quarter twitter suffering from a broad pullback in advertising in the fact that it is more reliant on brand advertising that responds more to direct ads and twitter says they're not working to build a business there now as for the boycott that started with facebook over hate speech, on that platform, and then expanded for many companies to twitter, here is what jack dorsey had to say. >> we want to make sure that we're operating under a principal of show, don't tell. and it really speaks to our actions and how we demonstrate our commitment to protecting the service. we were the first to ban political ads. political reach should be earned, not paid for we were the first to have policies on high profile tweets from leaders >> they also say they're in the this they are talking about looking in a number of ways

julia boorstin has the details julia. >> sara, that's right. twitter shares surging on a rumor the company is looking to build a subscription service this rumor sparked by job listing that mentioned development of subscription platform sources close to the situation tells me a subscription service is one of many revenue generating options twitter has been considering but no announcement in that area imminent ceo jack dorsey kicks around subscription tier and twitter management talked about a push to create new revenue streams. that follows pressure from activist investors elliot management but it does not seem like anything imminent here. probably a bunch of different hires in different areas, sara. >> what a crazy move for the stock, though, just on that prospect julia, thank you julia boorstin josh, i think you've owned this stock. are you still in it? >> no, i got out of it a while ago. i did not make money with twitter. i think i sold it a couple points higher. i sat in it since the ipo up until probably four months ago or something like th

julia boorstin tells us what to expect hey, julia >> hey, jon. it offers to users both the free streaming version and the $5 subscription service it's also adding more golf and cycling. chairman pete strauss telling us it's live news and sports, and the fact that people can watch for free will help it compete. >> in a competitive market we've actually identified a white space opportunity which is to launch a premium ad supporting service which really taps into the breadth and the content we offered universal. >> peacock is launching without deals from roku, amazon fire tv. strauss said they're working on those deals. they're also working on getting those premiums offered through other providers. it's also offered through comcast. >> i can't help but think that this is kind of ironic comcast, big cable provider, is used to perhaps controlling distribution a bit, but nbc universal, the comcast unit, can't get roku and amazon fired to do these deals. it's over the top, isn't it? >> so, jon, does that mean its value membership, which is free to $5, w

julia boorstin has been following the story. it's two reactive and slow about the hate speech. auditors saying they watched the company make painful decisions that are serious setbacks and has not devoted enough assets to address these issues this report advocating they bring in more civil rights experts to the country, take steps to address concerns dedispute that post violating facebook's broader policies. sheryl sandberg responding to the findings -- as hard as it's been to expos o-- they echo the criticisms by the civil rights a groups behind the boycott that met with facebook management yesterday. they called the meeting disappointing. now, facebook has said it would not fall not fold for pressure, but it does seem they could be compelled to take some of the recommendations. >> julia, thank you. >>> let's get to steve weiss steve, it looks like facebook is under a lot of pressure when it comes to the issues of up civil rights and hate speech. >> it is i'm sticking with it ultimately i have to believe that mark zuckerberg is more intelligence and a better business person th

committee with us today to walk us up to t tthe -- eamon javers is in washington, deidra, and julia boorstin, and josh lipton on apple we were just seeing a shot of the hearing room as well eamon, we may lack some of the visual drama given the remote locations of the ceos, however there will still be plenty of theater given the star power we expect. >> yeah, look, scott, this is scuff iconic moments in business history. starting with big to bako, the big banks, the pharmaceuticals, they've all been through this big moment where all of the leaders of those industries are on the capitol hill raising their hands in the air testifying before congress this one won't have quite the sting of that for a couple reasons. i don't think you can say the technology industry is as unpopular as the industries were and that huge user base i think will go a long way also, you have this idea which you were talking about these guys are going to be testifying remotely. there's a bit of distance that's going to go a long way here, in terms of softening some of the blows. i'm going to be watching the document disc

big week of earnings ahead we are going to hear from beyond meat, activision, etsy and disney julia boorstiny. >> with no new movies in theaters and parks starting to reopen, this quarter will be a rough one for disney the revenue is xkted to decline 39% to $12.4 billion while expected to lose 64 cents per share, down from $1.35 gain a year ago and not reported a quarterly loss since 1984. what's the outlook for the rest of the year about park bookings or ad revenue and a lot of attention paid to disney's streaming service disney plus expected to be a rare bright spot for disney this quarter sara >> julia boorstin, thank you also beyonce's black is king is coming out on disney mike, a quick final thought as we wrap up the month and the week and look ahead to august next week. >> a the lot of these earnings will matter in the moment but negative real interest rates, record levels right now, seems to be and matdinimating what's . so i'm not sure if that changes getting into august. >> extraordinary up 7.4%. in the month but beaten by gold up 11%. crazy stuff. what a crazy week it's been. that

julia boorstin has more. >> big news on the consumer electronics show in las vegas every year, it wille an all digital experience the organization saying they're no longer going to have an in-person component and they're going to try to figure out how to have a digital gathering of thought leaders from media and technology from across the world. i think it's going to be really interesting to see how they figure this out leslie, because this is an important time for tech companies to unveil new gadgets and talk about the future roadmap for what their technologies will look like and important time for the advertising industry to come and look at new ways that they could reach consumers and start negotiating deals with clients that are sort of concluded around the up fronts that happen in may so a very important meeting both for tech and advertising industry, now moving untirely online back over to you >> julia, thank you. julia boorstin i don't know how you do it, digital ces, not sure how that works. >>> shares of 3m down about 5% take a look, see for yourself. there it is, yes, after r

julia boorstin has information on why >> twitter up 3%, snap up 2%, and pinterest up 3.3%.er earnings come out thursday morning luke capital says advertisers survey suggests internet advertising is recovering ahead of expectations. they prefer stocks and valuations less stretched and saying they believe snap has the best overall fundamentals. goldman sachs out with a note saying snap has seen out performance on data and improvements in underlying usage while the gap between growth and digital stock performance leaves them bullish with snap and twitter along with amazon. twitter, despite that hack last week, is on pace for its best month since june of 2018 carl >> julia, we'll watch those names along with mega cap tech as microsoft up almost 2.5% leads the dow. interesting morning taking place. thanks >>> take a break here as we the mesome of esnas. we'll be back in a minute. >>> jeffries is taking its price target on amazon up to a street high of 3800 this morning. the analyst behind that call joins us now good morning >> good morning. >> okay. so amazon's up 30% since repo

i guess the hong kong scenario shows us how it might have to turn direction again julia boorstin, thankou. >>> josh has news on apple >>> so, wilf, we have headlines on apple, a report saying the full return to u.s. offices is not going to happen before the end of 2020. also saying that the retail staff working remotely as the virus, of course, has compelled the company to reclose many of their stores, those staff asked to instead help customers looking to buy products or get help online, which as we know where customers are. we should stress the company always did say they would follow the data here and try and ensure the safety and security of employees and customers. when i spoke to the ceo tim cook in late april when they last reported results, he made it clear that as his employees return to work it was always going to be in a staggered way he told me we're not going to move to 100% very quickly and even when the employees do return to work to cupertino it would be a different world of temperature checks and masks and social distancing guidelines back to you. >> thanks for that sar

that was great thank you, robert frank, julia boorstin and robert griffith >>> we're going to hear from leading rv an coontsaker that's next. re. but a resilient business can be ready for it. a digital foundation from vmware helps you redefine what's possible... now. from the hospital shifting to remote patient care in just 48 hours... to the university moving hundreds of apps quickly to the cloud... or the city government going digital to keep critical services running. you are creating the future-- on the fly. and we are helping you do it. vmware. realize what's possible. come on in, we're open. ♪ all we do is hand you the bag. simple. done. we adapt and we change. you know, you just figure it out. we've just been finding a way to keep on pushing. ♪ >>> welcome back to "the exchange." while the pandemic has been devastating to many industries, it's been a boon for what i'll call the rural loner trade, rv and boating manufacturers. will that continue let's bring in frank holland for more frank? >> that is the question, will it continue here's what we know so far, shares of leading rv m

. >>> julia boorstin, what's the latest >> warner brothers announcing on august 26 it will release warner brothers tenet in 70 countries, then it will open on labor day weekend in select cities it's unusual to release a global release of this size it is expected to make about $2 billion and warner is hoping to keep it in theaters longer than usual as theaters open up. cinemark shares down all those stocks down. cinemark down over 1%, amc over 3%, imax down more than the rest of them, just fractionally >> julia, thank you, with the latest on tenet. >>> coming up, we have three names reporting this week that have a trek of beating expectations >>> we'll tell you why papa john's continues to deliver while mcdonald's can't find its groove remember, you can always listen p. us live on the go on the cnbc ap"the exchange" is back in a couple how does the world reopen for business? to return to the workplace, safely, companies will need the right tools. that's why salesforce created work.com it's an all-new suite of apps, expertise, and services. to manage this crisis today, and thrive tomorrow.

julia boorstin joins us now with more you always thought, wow, what a great business model they don't have cable, broadband. got all of this other great stuff. whoa, i don't know anymore then it turned into a perfect storm, right, julia? >> reporter: certainly just remember, joe, that they opened this weekend as florida reported more than 15,000 new cases on sunday. that was a daily record for any u.s. state this as disney welcomed thousands of visitors to the start of its phased reopening of disney world after the closure of domestic parks reportedly cost the company about a billion dollars in the past quarter. disney parks chairman in an interview from the park said people were following the rules and were wearing masks disney would not say how many people it admitted there were some reports of a bottleneck getting into the park, but the grounds reportedly did not feel crowded wait times for the rides were short. i asked demaro whether he's considering reclosing the parks due to the spike in viruses, but here's what he said. and it looks like we do not have the sound bite, but he di

but anyway another big company joining, julia boorstin with details. julia. >> wilf, that's right.e is the latest company to join the boycott. it will be halting facebook and instagram, saying chipotle to brand purpose cultivating a better word and paid advertising on snag july 1st while we work together to understand changes they are making. of course this comes as facebook is working very hard right now to communicate to advertisers everything it has done, not just in the past few years but changes it announced since friday also saying they want to work with them to make more changes about the particular issue of the boycott, cracking down on hate speech and racism on the platform. over to you. >> thanks for that facebook sliding a little bit there but, of course, enjoyed a significant rebound in the last couple of days stock has rallied more than 120% since going public in april 2019 up next we'll ask the company ceo since start of coronavirus zeisis and fed's indefinite ro rates policies are impacting the bottom line. soared 60% since march 23rd close as we've seen more electro

welcome to "squawk alley," i'm carl quintanilla with jon fortt and julia boorstin from separate locationsay as we work our way farther from the flag line china tensions are upset by this pfizer news and there's earnings the calendar marches on with microsoft and tesla. tonight, julia, even as we try to process the results from last night, including snap. >> yeah,

to go to the west coast because twitter's quarterly results are just out want to get over to julia boorstin with those. julia? >> twitter growing its users faster than expected while its revenue came up short of expectations twitter adding 20 million monetizable daily active users, 70 million outside the u.s. to end the quarter with 186 million. that's a 34% increase. its highest year over year far exceeding expectations the revenue of $683 million fell 19% from a year earlier missing analyst expectations of $707 million in revenue the company reporting a non-gap loss of $1.39 per share. it includes a $1.1 billion loss related to a non-cash deferred tax asset. as for last week's hack attack, ceo jack dorsey saying in the press release, quote, we moved quickly to address what happened and have taken additional steps to improve resiliency against targeted social engineering attempts, implemented numerous safeguards to improve the security of our internal systems, and are working with law enforcement as they conduct their investigations twitter cfo ned segal telling me with a much larger audie

. >> we've got a team of experts here to help us that cover these companies, julia boorstin, of course, on facebook, deirdre on google and amazon, josh lipton on apple my biggest question, we'll start, deirdre with amazon they did face tough questions here i think about dominance and abuse of power it's coming at a time when more americans are using amazon and needing amazon we're home and during the pandemic we're not in life as normal. i wonder if this accomplishes anything, sway public opinion against these companies that particular drive any action. >> sara, it's a good point i like the way josh brown put it there seems to be two dual tracks, one focused on antitrust which they set out to do, the other on privacy and politics and whether google algorithm, help joe biden win an election i think the latter half distracted from what congress is trying to do here, which is put in place new legislation that would reshape digital landscape. when it comes to amazon and jeff bezos, this is the first time we've seen him in front of congress did he perform in the jury is still out. he faced

julia boorstin joins us with more on that story julia?rter: good morning, andrew this seems like the biggest ever hack for twitter bill gates, president obama home and vice president biden along with the corporate accounts of uber and apple these accounts reaching hundreds of millions of twitter followers. the hackers all posted similar messages the hackers didn't infiltrate individual accounts but did this by hacking into twitter itself twitter support tweeted we detected what we believed to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools twitter temporarily suspended the ability to tweet for some verified accounts saying in a statement that it locked accounts that were compromised and that they've taken steps to limit access to internal systems while the investigation is ongoing. jack dorsey, ceo of twitter, he posted that they all feel terrible about what happened and they are working to make it right, but it's worth noting that this comes as

julia boorstin joins us on the developing story julia? >> reporter: good morning to you, andrew.y is starting the phased reopening in disney world in orlando tomorrow this comes after yesterday it started its phased reopening of downtown disney. that's the outdoor mall by the anaheim park including masks and social distancing. this is an important moment for disney's parks and resorts division which last year was the largest by revenue analyst michael nathanson said they lost due to the closures. it comes as the shares are at a crossroads it's down 17% over the last year now analysts are on average bullish with 13 buy or overweight ratings, 11 holds and one sell rating. telling us the question when parks will return to last year's levels, that depends on the case of infections, health of the economy, consumer's willingness to travel to orlando we're told absent a vaccine, the most important thing for disney is to focus on safety and make sure attendance continues to climb higher we'll have to see how it looks based on the turnout saturday, how consumers feel and we'll have to see

sensenbrenner we hope to hear from the big men of these companies today we have kayla tausche, julia boo boorstin and deirdre bosa. let's talk about this. he said your size is not a problem, and he emphasized some of the free speech issues and some of the bias concerns that conservatives have when it comes to these platforms that to me says there is still a fair amount of distance between the parties on what the big move might be on big tech >> kelly, there could be problems with company dominance. they feel like dominance could have surveillance with customers on the right it has to do with free speech being shared on the platforms. that being said, you heard the chair on the subcommittee, david sisiline, how these companies are part of the digital economy and talking about comparisons to railroad tycoons of the previous century and the ability of these 800-pound gorillas to use their power for evil we did see that from ranking member sensenbrenner's comments following that these executives will have a lot of tough questions to answer, millions of pages of data having been provided to the commit

julia boorstin joins us now with more i'm sorry, julia, that's not on the docket for you >> reporter:y that trip to sun valley and talking and reporting about all the deals in the works after a wave of megamergers over the last couple of years ago, deal making is taking a breather there's been only $8 billion of media deals down from 127 billion in 2019 and there have been 93 deals this year down from a peak of nearly 506 -- 500 six years ago according to pitch book the media giants are busy integrating. disney and fox, comcast and sky and viacom of cbs in figuring out which parts of those companies don't fit such as at&t looking to sell warner brothers video game division and viacom, cbs's simon and shuster publisher. craig moffitt says in the telecom case it's too late to get any approvals before the election when deals do pick up again, michael nathanson says it makes sense that amc networks and lions gate would seek a buyer but there's not much interest right now. we have been through rapid integration and i think that would change if nbc universal and warner media are ever spun o

julia boorstin joins us now with what we can expect from today's meeting. lia. >> reporter: good morning to you, joe facebook ceo mark zuckerberg and coo sharyl sandberg will be holding a joint call with the antidefamation league, naacp and color of change. this call is scheduled to begin at 2 p.m. eastern. the nonprofits that advocated for an advertising boycott of facebook will be discussing the ten steps they recommend facebook to take in order to crack down on racism and hate on the platform, dlaug facebook put a civil rights expert inside the c suite to make sure the designs consider the impact on all communities and the potential for radicalization and hate. the group is demanding third party audits and refunds to brands whose ads were shown next to content found to be in violation of policies. facebook responding, quote, we share the goal of these organizations. we don't benefit from hate we don't want it on our platform we look forward to hearing directly from these organizations. now nearly 1,000 brands including starbucks and cvs have joined the bo

julia boorstin has it. >> reporter: the fall tv season is the most important for the tv networks sportsinally returning that's the good news the giants versus dodgers game they saw the primetime ratings grow 17% while the two daytime games had ratings of 23% over fox's daytime theme. and espn's opening night game thursday generated the largest audience ever for an mlb opening night bringing in 4 million viewers. that's up 17% for the prior record back in 2017. now the nba is scheduled to start playing on thursday and the nhl on saturday. the bad news is with production haltedsince mid march the broadcast networks can't debut a season in the fall with most scripted shows still unfinished. they're relying on competition, reality shows, animated series this will hit both the ad revenue as well as licensing revenue from the studios that produced those shows now the ugly piece of this is the risk that the nfl does not return if it doesn't, billions of dollars in advertising will be lost though sold an estimated $4.5 billion in ads last year andrew >> question though, why is the nfl a much bi

through all of this uncertainty is brooks barnes who was at disney world over the weekend our own julia boorstins with us as well brooks, you were on the ground you saw it live. would you feel comfortable sending your family? >> i would i wouldn't have said that before i went it was a little nerve racking driving up to the gate, but especially compared to the rest of florida and, you know, what i saw outside, disney world felt sort of like a hospital. the safety protocols, at least on opening day, were rigidly enforced who knows how long as it goes on they'll have to keep that up >> i read the story families seemed to be having a good time. in terms of the quote, unquote experience, if you will, worth it >> you know, it -- i have a hard time understanding why you would go anywhere right now. i'm much happier in my little bubble here, but i try not to -- try not to judge people who felt the need to go and those hard core disney fans you know, it can be like a religion to them i saw multiple people crying when they came in. there were entire families in mini ears, mickey mouse ears and for them, y

julia boorstin joins us with a look at what's happening now good morning, julia. >> good morning to youzuckerberg seemed to double down on those comments in a town hall on friday the information first reporting and facebook confirming that zuckerberg said while he takes these matters seriously and they don't benefit from hate speech, quote, we're not going to change our policies or approach on anything because of a threat to a small percent of our revenue or to any percent of our revenue. all of this week facebook's senior executives have been calling on advertisers, talking to them about the changes that the company's announced in the last week to crack down on hate speech and to prevent voter manipulation now, last night more advertisers joined in this boycott of facebook's cbs, chipotle joining starbucks, unilever as well as ford now, despite their comments, facebook does have a track record to responding to advertiser pressure to clean up the platform facebook responded to procter & gamble's demands to improve brand safety in 2017, to target's demands to remove the sale of illegal d

facebook, apple, all on the move we have full coverage standing by jon fortt on alphabet, julia boors boorstin digging

for "rapid fire," and here to take on the headlines are seema mody, eric chemli and julia boors stin thank y -- boorstinobal monthly active users surged almost 40% year on year to more than 40 million, so the stock is up more than 30% today, easily its best day ever julia, you spoke with the ceo, right? is this sustainable? >> unfortunately, i did not get to speak with the ceo, but i did list ton the earnings call and the ceo had lots of interesting things to say. here's the thing, kelly. in july they saw 50% revenue growth, and for now they project that in the third quarter they'll have 30% revenue growth. there are two things at play here number one, they are benefiting from the facebook boycott. they're saying they're watching to see how much of those increased advertisers and increased spend is due to the boycott, but they've been taking this it as an opportunity to talk to brands about the fact they don't have that messy political ad conversation on the platform, and also they're seeing a surge in younger users. they're seeing twice as much growth in users under age 25 under age 25 and over age 25,