I'm never using Google again. Here's Why!
Hi, My name is Pranoy Tez. I'm a software engineer and I invest in stocks for my long-term growth. I invest in stocks like Apple, Microsoft, Google, Tesla, AMD, PayPal, Shopify etc. First of all, let me start by saying I'm a Google fan. I use google search and maps everyday.
This article is solely about search in our day-to-day life. Today PayPal released their earnings results for 2023 Jan-Apr quarter. I have been an investor in PayPal from a long time as they have a great business model. So, when the earnings report was released, I was happy that they beat analysts’ expectations by 7% and they also said they are raising expectations for the whole year.
All of these are good signs, but the stock went down 4% after trading hours closed. I wanted to know why. As usual I went to google first. I searched for why PayPal was down after hours?
This is the result I got
Now I had to painfully read all the articles. But I did it anyway. The CNBC article gave a general idea on why there are long term challenges such as too many players like Apple, Spotify and Amazon are launching their own platforms. I understood a little bit but I was still not satisfied. 4% drop in a 85 Billion dollar company is 3.4 billion dollars. What is the reason for 3.4 billion dollar market cap lost?
The MarketWatch headline in the above picture was the most complicated line I tried to understand and it gave a little bit clue on what’s happening.
Investors thought the profit increase would be 1.25% but now they are saying the profit will only be 1%.
It seems like this has upset a lot of investors. I’m still not satisfied with this answer.
I even tried using chatGPT to analyze this.. But I don’t have the plugins for it yet. So I cannot give it pdfs. There is a chatPDF tool but it’s not connected to internet. So its seriously limited.
Now I wanted to give Bing a try and see if this can help me any better. This is how the conversation went.
Me: Get me the latest earning reports of PayPal
Bing AI: PayPal Holdings Inc. released its Q1 2023 earnings report on May 8th, 2023. The credit services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business earned $7.38 billion during the quarter, compared to analyst estimates of $7.39 billion1.
I hope this helps! Let me know if you have any other questions.
Me: what happened to this company's stock after hours?
Bing AI: PayPal Holdings Inc. stock dropped 3.5% in Monday after-hours trading after the company issued soft Q2 guidance1.
Me: why did the stock drop after hours?
Bing AI: PayPal Holdings Inc. stock dropped 3.5% in Monday after-hours trading after the company issued soft Q2 guidance1. The full-year earnings guidance was raised to reflect its stronger-than-expected Q1 earnings, helped by its cost-cutting actions1.
Me: what is the q2 guidance for PayPal stock?
Bing AI: PayPal Holdings Inc. is expecting a growth of 19% in revenue for Q2 2021. PayPal is expecting the total revenue to reach $6.25 billion in Q2 of 202112.
Me: what is q1 earnings summarized?
Bing AI: PayPal Holdings Inc. reported first-quarter profit of $795 million. The company said it had net income of 70 cents per share. Earnings, adjusted for one-time gains and costs, were $1.17 per share. The results topped Wall Street expectations12.
Me: This still doesn't explain why the stock dropped. Is there any other reason why stock is dropped?
Bing AI: PayPal stock dropped due to several factors, including weak guidance, inflation, user growth miss, CFO departure, and increased competition. The company blamed inflation and 4.5 million “illegitimate” accounts for its lower-than-expected revenue and user growth. Its CFO and executive vice president John Rainey left the company to join Walmart as its CFO. Bernstein analysts downgraded the stock and cut the price target, citing worries about e-commerce platforms like Amazon and Shopify that have more leverage and innovation in the payments space1.
Me: Can you send me a pdf of all the questions and answers in this conversation?
Bing AI: I’m sorry but I’m not able to send you a pdf of our conversation. However, you can copy and paste the conversation into a document and save it as a pdf. Is there anything else I can help you with?
Here I found the limitations of the Bing. Not being able to summarize a conversation is a pretty big limitation.
For all the limitations Bing had, it’s advantages totally outweighed. Bing and Edge are really good tools now.
This along with the MSN where we can see the stock data is an unstoppable force in my opinion. This is why I decided to start using Bing everyday.
Thanks for reading my article, If you liked it please subscribe. This is my very first article. I know I need to improve but I need your feedback to improve. Please let me know, in the comments if you have any suggestions for me to improve my writing.
Screenshots for people reading on PC.
Screenshot from MSN Money