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McDonald’s Corp. MCD,
Comcast beat analyst estimates on Thursday when it reported its second-quarter results, as higher pricing helped offset a continued slowdown in its broadband business.
The company also said the number of subscribers for its streaming service Peacock nearly doubled to 24 million compared to the prior-year period, with revenue up 85% to $820 million. Still, losses from the streaming platform continued to weigh on NBCUniversal’s media business.
Southwest Airlines shares slid more than 6% in premarket trading Thursday after the airline reported a drop in unit revenues and higher costs for the second quarter.
The airline’s second-quarter unit revenue dropped 8.3% from a year earlier, Southwest said, citing a policy change last summer that removed expiration dates from pandemic travel credits.
Meanwhile, operating expenses rose more than 12% in the three months ended June 30 from a year earlier. Stripping out fuel, expenses were up 7.5%, at the higher end of the company’s previous cost guidance due in part to planned wage increases tied to open labor agreements.
For the third quarter, Southwest said it expects unit revenue to fall as much as 7% on capacity up 12% from a year earlier.
The carrier blamed “challenging comparisons from the pent-up travel demand surge in 2022, and higher than seasonally-normal growth.”
Here’s how Southwest performed in the second quarter, compared with Wall Street expectations according to Refinitiv consensus estimates:
- Adjusted earnings per share: $1.09 vs. an expected $1.10
- Total revenue: $7.04 billion vs. an expected $6.98 billion
The airline’s net income fell to $683 million, or $1.08 a share, down 10% from $760 million, or $1.20 per share, during the second quarter of 2022.
Revenue, however, came in at a record $7.04 billion, ahead of analyst expectations and up 4.6% from the same quarter last year.
Southwest executives will hold an analyst and media call at 12:30 ET when they’re expected to face questions about growth plans and progress on improving technology to avoid a repeat of the holiday meltdown. They are also likely to provide an update on what has been difficult labor talks with pilots.
Elon Musk may want to send “tweet” back to the birds, but the ubiquitous term for posting on the site he now calls X is here to stay — at least for now.
For one, the word is still plastered all over the site formerly known as Twitter. Write a post, you still need to press a blue button that says “tweet” to publish it. To repost it, you still tap “retweet.”
But it’s more than that.
With “tweets,” Twitter accomplished in just a few years something few companies have done in a lifetime: It became a verb and implanted itself into the lexicon of America and the world. Upending that takes more than a top-down declaration, even if it is from the owner of Twitter-turned-X, who also happens to be one of the world’s richest men.
“Language has always come from the people that use it on a day-to-day basis. And it can’t be controlled, it can’t be created, it can’t be morphed. You don’t get to decide it,” said Nick Bilton, the author of “Hatching Twitter: A True Story of Money, Power, Friendship, and Betrayal” about Twitter’s origins.
Twitter didn’t start out as Twitter. It was “twttr” — without vowels, which was the trend in 2006 when the platform launched and SMS texting was wildly popular. The iPhone only came out in 2007.
Twitter co-founder Evan Williams “went one day and purchased the vowels, two vowels for essentially $7,500 each,” when he bought the URL for twitter.com from a bird enthusiast, Bilton said.
In the beginning, people didn’t “tweet” — it was “I’m going to Twitter this,” Bilton recalled. But “twittered” doesn’t roll off the tongue and “tweet” soon took over, first in the Twitter office, then San Francisco, then everywhere.
We’ve been tweeting for well over a decade. World leaders, celebrities and athletes, dissidents in repressive regimes, propaganda trolls, sex workers and religious icons, meme queens, and actual queens. Former president Donald Trump’s incendiary use of the bird app quickly punted “tweet” into near-constant headlines during his presidency. People who never signed up for Twitter knew what the word meant.
For now, we still tweet, retweet, and quote tweets, and sometimes — perhaps not often enough — delete tweets. News sites embed tweets in their stories and TV programs scroll them. No other social network has a word for posting that’s entered the vernacular like “tweet” — though Google did the same for “googling.”
The Oxford English Dictionary added “tweet” in 2011. Merriam-Webster followed in 2013. The Associated Press Stylebook entered it in 2010.
“Getting into the dictionary is an indication that people are already using it,” said Jack Lynch, a Rutgers University English professor who studies the history of language. “Dictionaries are usually pretty tentative or cautious about letting new words in, especially for new phenomena, because they don’t want things to be just a flash in the pan.”
As Twitter grew into a global communications platform and struggled with misinformation, trolls, and hate speech, its friendly brand image remained. The bluebird icon evokes a smile, like the Amazon up-turned-arrow smile — in contrast to the X that Musk has imposed.
Martin Grasser was two years out of art school when Twitter hired him for the logo redesign in 2011. His wasn’t the first bird logo for Twitter, but it would be the most enduring.
“They knew they wanted a bird. So we weren’t starting completely over, but they wanted it to be on par with Apple and Nike. That was really brief,” he said.
Twitter launched Grasser’s design in May 2012; the company went public on Wall Street later that year.
One early in-house design shown to Grasser looked like “a flying goose with a tail. It looked kind of like a dragon. It was crazy,” he said. Jack Dorsey, another co-founder (and twice-CEO) wanted something simpler.
The bird represented a vision of Twitter as a friendly place “where everyone can weigh in and chat,” Grasser said.
“The round form evokes a sense of optimism, the bird even being sort of turned upward, as corny as that sounds, I think is different than a bird flying down or flat,” he said. “We wanted to give it this idea of like soaring.″
The word “Twitter” itself is playful, as is “tweet.” This was no accident, Bilton said.
Other names that floated as the platform started out included “Status” and “Friend Stalker.”
It was Noah Glass, another co-founder who never quite got the credit he deserved for his role in hatching Twitter, who had the winning idea.
Glass, Bilton said, “had been thinking about like heartbeats and emotions. He was going through a divorce and he literally went through the dictionary word by word until he came across the word twitter. And he just knew instantly that was it.”
“He was one of the four founders who had the emotional intelligence to be able to understand that this was about connecting with humans,” Bilton said. “It was inviting, it was emotional. It was about connecting with humans and your friends and your loved ones.”
Musk began his quest to erase Twitter’s corporate culture and image in favor of his own vision as soon as he took over the company in October 2022. He lost three-quarters of the company’s staff through firings, layoffs, and voluntary departures, auctioned off furniture and décor, and upended policies on hate speech and misinformation. The rebranding to X was no surprise.
Twitter’s rebranding is rooted in ambition that Musk began to pursue nearly a quarter century ago after he sold his first startup, Zip2, to Compaq Computer. He set out to create a one-stop digital shop for finance called X.com — an “everything” service that would provide bank accounts, process payments, make loans and handle investments.
He has not given up on the dream. Twitter is now X, falling in line with Musk’s other X-named brands, SpaceX and Tesla’s Model X. Not to mention his young son, whom he calls “X.”
His goal for X is to turn it into an “everything” app — for video, photos, messaging, payments, and other services, although he has given few details. For now, X.com is still, essentially Twitter.com, even as the bluebird and other playful tidbits start to disappear.
“There used to be a saying inside Twitter that Twitter was the company that couldn’t kill itself. I think that still rings true, whether it’s called Twitter or X,” Bilton said.
“I think that it’s kind of become a fabric of society. And even Elon Musk may not be able to break it.”
U.S. Facebook users have one more month to apply for their share of a $725 million privacy settlement that parent company Meta agreed to pay late last year.
Meta is paying to settle a lawsuit alleging the world’s largest social media platform allowed millions of its users’ personal information to be fed to Cambridge Analytica, a firm that supported Donald Trump’s 2016 presidential campaign.
Anyone in the U.S. who has had a Facebook account at any time between May 24, 2007, and December 22, 2022, is eligible to receive a payment. To apply for the settlement, users can fill out a form and submit it online, or print it out and mail it. The deadline is August 25.
It’s not clear how much money individual users will receive. The larger the number of people submitting valid claims, the smaller each payment will be since the money has to be divided among them.
The case sprang from 2018 revelations that Cambridge Analytica, a firm with ties to Trump political strategist Steve Bannon, had paid a Facebook app developer for access to the personal information of about 87 million users of the platform. That data was then used to target U.S. voters during the 2016 campaign that culminated in Trump’s election as the 45th president.
Uproar over the revelations led to a contrite Zuckerberg being grilled by U.S. lawmakers and spurred calls for people to delete their Facebook accounts.
Facebook’s growth has stalled as more people connect and entertain themselves on rival services such as TikTok, but the social network still boasts more than 2 billion users worldwide, including an estimated 250 million in the U.S.
Beyond the Cambridge Analytica case, Meta has been under fire over data privacy for some time. In May, for example, the EU slapped Meta with a record $1.3 billion fine and ordered it to stop transferring users’ personal information across the Atlantic by October. And the tech giant’s new text-based app, Threads, has not rolled out in the EU due to privacy concerns.