While some Facebook execs were in Washington, D.C. Wednesday, testifying about Russia-backed ads, CEO Mark Zuckerberg announced blow-out earnings. The company reported ad revenue of over $10 billion and 2.07 billion monthly active users. Daniel Ives, Chief Strategy Officer and Head of Technology Research at GBH Insights, discusses the social media platform's 2018 guidance. Zuckerberg said 2018 will be a year of "investment." Ives believes this should be used to further expand its ad growth, AR, mobile platforms, video, consumer engagement, and Instagram/Messenger monetization into 2018 and beyond. However, Ives said the platform will need to invest billions in security, which concerns investors. Zuckerberg warns that the company's future profitability will be impacted because of it. Plus, we can't forget Apple. The tech giant reports earnings after the bell Thursday. Ives says early demand for the iPhone X will continue throughout the year. He says the Street really wants to see guidance for 75-80 million units in the month of December. He believes this will be Apple's biggest super cycle.

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Nestlé dismisses CEO after he has relationship with a subordinate
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
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