Technology Roundup – Alibaba Singles Day sales nearly doubled on last year’s record; Facebook, Google extend post-election political ad ban
Alibaba Singles Day sales nearly doubled on last year’s record
Alibaba (NYSE:BABA) ends its annual Singles Day sales event with total GMV of RMB498.2B or about $75.1B.
The event trounced the $38B sales record from last year, a sign of e-commerce’s pandemic strength and the recovery in Chinese retail spending.
Alibaba shares are up a meager 0.4%, still weighed down by draft regulations from Chinese antitrust regulators that targets online platforms.
Facebook, Google extend post-election political ad ban
Facebook (NASDAQ:FB) and Google (GOOG,GOOGL) have quietly extended the political ad bans originally scheduled for one week after the U.S. presidential election, the Financial Times reports.
When Facebook first announced its post-election ad ban, the company acknowledged that the schedule was “subject to change.” The company tells FT that the block remains in place as a precaution against civil unrest and that advertisers will be notified when the situation changes.
Google confirmed to FT that its ban was still in effect but wouldn’t share details about when the action might end.
Facebook in particular has been scurrying to deal with a flood of misinformation in the days since the election, implementing emergency measures to make it harder to share misleading information.
Google’s YouTube has been accused of allowing misinformation to remain on its platform.
CommScope, Nokia team on new antenna platform to ease 5G deployment
CommScope (COMM -0.8%) is working with Nokia (NOK +2.3%) on a new interleaved passive-active antenna radio platform.
That’s a development the companies say will simplify introducing 5G New Radio, allowing for deployment on existing sites without adding additional footprint.
It consists of two field-replaceable modules: a passive module supporting multiple bands in the 700 MHz to 2.7 GHz range, and a passive-active module including TDD beamforming for the 5G NR n78 area (3.4 GHz to 3.8 GHz).
KLDiscovery EPS beats by $0.02, beats on revenue
KLDiscovery (OTCPK:KLDI): Q3 GAAP EPS of -$0.30 beats by $0.02.
Revenue of $72.3M (-7.5% Y/Y) beats by $2.1M.
Vroom EPS beats by $0.07, beats on revenue
Vroom (NASDAQ:VRM): Q3 Non-GAAP EPS of -$0.29 beats by $0.07; GAAP EPS of -$0.31 beats by $0.07.
Revenue of $323M (-5.1% Y/Y) beats by $11.77M.