After snap, Facebook and twitter also released their third quarter results for 2020 after hours on October 29. Since then, the quarterly results of the three major social media giants in the United States have come to an end. Since the beginning of this year, affected by the health events, the share prices of the three companies have changed greatly. Since the stock prices of the first quarter fell, they all recovered in the second and third quarters, which also means that the market confidence in them is gradually returning. < / P > < p > so far, Facebook shares closed Friday at $263.11, with a market value of $749.552 billion; twitter shares closed Friday at $41.36, with a market value of $32.714 billion; snap shares closed at $39.33 on Friday, with a market value of $58.690 billion. < / P > < p > although both are old-fashioned social media platforms in the United States, Facebook and twitter can be said to have different lives with each other. Seeing that the market value of Facebook has soared to the level of 100 billion, Twitter is still hovering around the market value of 10 billion, and even surpassed by the rising star snap. Perhaps, combined with the third quarter’s results, we can see if their performance in this quarter is well received. < p > < p > in this quarter, the revenue of Facebook Q3 was $21.47 billion, up 22% year-on-year, and the market expected $19.84 billion; the revenue of twitter in the third quarter was $936 million, up 13.59% from $823 million in the same period last year; Snap’s revenue in the third quarter was $678.9 million, up 52% from $446.2 million in the same period last year. < / P > < p > as one of the most popular mainstream social media in the United States, the business composition of Facebook, snapchat and Twitter is similar, mainly relying on advertising services. Among them, Twitter’s advertising revenue was $808 million, accounting for 86.3% of the total revenue; Facebook’s advertising revenue was $212.21, accounting for 99.16% of the total revenue; although no specific advertising revenue was disclosed in this quarter, snap’s advertising revenue accounted for 98%, 99% and 97% of the total revenue as of December 31, 2019, 2018 and 2017, respectively. < p > < p > in the third quarter, after the decline in Q2, the operating revenue of the three companies recovered in Q3. This is due to the return of the US election and various professional competitions, and the demand for advertising of major agencies and companies has increased. Due to the impact of health events on the economy, advertising budgets of Companies in the first half of this year have been significantly reduced, but the data in the third quarter show that advertising spending is on the rise. According to Gupta media, although many well-known brands banned advertising on Facebook in July, advertising demand “seems to have rebounded, with the annual growth rate of advertising prices turning positive at the end of September.” < p > < p > according to Xiaohu news, advertisers in three typical industries in North America and Europe – retail goods (e-commerce), packaging products and restaurants have significantly increased their advertising investment and achieved good returns. Obviously, this coincides with the current situation of Q3 epidemic in Europe and the United States – cautious people tend to store food and reduce going out, but there is also a great demand for going out to restaurants. < / P > < p > the most critical indicator to determine advertising revenue is the average daily realizable active users (mdau). The more daily average realizable active users, the greater the traffic of the platform and the more favored by advertisers. In this quarter, Facebook, twitter and snap, the world’s three social giants, all achieved certain growth in daily living users < / P > < p > Facebook’s daily life in the third quarter was 1.82 billion, a year-on-year increase of 12%, and the market was expected to be 1.78 billion. In the third quarter, the monthly turnover was 2.74 billion, with a year-on-year increase of 12%, and the market expected to be 2.7 billion. In the third quarter, profits, revenue and daily live users exceeded expectations, but in the United States and Canada, the number of Facebook users fell from 198 million in the second quarter to 196 million a day. The company said its U.S. and Canadian user numbers rose in the second quarter as a result of the popularity of the new crown. < / P > < p > in the third quarter, the number of realizable daily live users of twitter was 187 million, with a month on month increase of 1 million, which was 152 million in the same period of last year, and the market is expected to be 195 million. By region, the average number of medau in the United States in the third quarter was 36 million, compared with 30 million in the same period last year and 36 million in the last quarter; the average number of international mdau was 152 million, 115 million in the same period last year and 150 million in the last quarter. < p > < p > in the third quarter, snap’s daily live users reached 249 million, up 18% year-on-year, exceeding the market’s expected 244.6 million. In the third quarter, snapchatters’ total daily time spent watching shows increased by more than 50% year-on-year. The average daily number of snapchatters watching discover content in India increased by nearly 50% month on month. < p > < p > in the view of the US Equity Research Institute, the common reason is that under the joint influence of the continuous development of the epidemic situation and the social activities that people want to wait for, the social software such as Facebook, twitter and snap ushered in a once-in-a-lifetime growth opportunity. < / P > < p > but why is Facebook declining in North America? In the view of the US Stock Research Institute, it may be that these users are preempted by twitter or snap. After all, during the stay at home, these two social giants also increased their marketing publicity, and to some extent, it is possible to divide up these users. < p > < p > for users, experience is very important. How to improve their platform to attract more users so as to get more advertising revenue may be a problem that Twitter and snapchat need to break through most. In terms of net profit performance, except for Facebook, twitter and snapchat respectively suffered losses. Among them, after two consecutive quarters of losses, twitter turned losses into profits in the third quarter, mainly due to the recovery of advertising revenue, while snapchat’s losses even expanded a little in the third quarter year-on-year, mainly due to the total expenditure and cost of each company influence. < p > < p > specifically, Twitter’s spending has been growing since this year. In the financial report, twitter mentioned that efforts to improve better advertising services have made progress in terms of brand and direct response products. Among them, the advertising format is constantly updated, the measurement method has been improved, and the prediction effect is better. And twitter said it would continue to iterate on the improved mobile app promotion (map) product and had decided to postpone general availability to 2021. This is likely to affect Twitter’s net profit performance in the fourth quarter. < / P > < p > as for snapchat, the continuous loss may be due to the continuous product innovation to cope with the increasingly fierce market environment, but its profitability can not keep up with it. From the perspective of snap’s operating expenditure in this quarter, R & D expenditure was 283 million US dollars, accounting for about one third of the total expenditure, with a year-on-year increase of 34%. < / P > < p > in the third quarter’s financial report, snap mentioned the investment in discover platform, added 2D body tracking technology in lens studio, and launched a platform to purchase advertisements in various formats for advertisers. In contrast, twitter seems to focus more on the improvement of advertising services. According to the US Stock Research Institute, the original intention of Twitter to improve its advertising service to increase revenue is good, but daily active users are the basis for them to get more ads. Perhaps the most urgent thing twitter should do now is to improve the user experience and product innovation to attract more active users. < p > < p > from the Q3 financial report, Facebook, twitter and snap achieved a recovery in core data revenue and advertising business, which also became an important reason for their stock price rebound. However, for social giants, Q4 is likely to continue to be affected by the global second epidemic, and the growth of active users in advertising business will also be affected by uncertain factors. Whether the rise in Q3 can be continued, the US Stock Research Institute will continue to follow up. It is said that “gta5” will be launched on Google cloud game platform stadia