Facebook Reports Earnings After Announcing an Adjusted News Feed Strategy and Microsoft Moves Ahead with Strong Cloud Strategy
Facebook and Microsoft released earnings after the Closing Bell today. The two tech companies beat expectations for both revenue and earnings per share.
Microsoft saw growth across the board, including in their cloud sector. Intelligent Cloud revenue rose 15% to $7.8 billion.
For Facebook, the social media still had strong earnings despite changing their news feed algorithm. Despite wins on both revenue and EPS, shares fell after the bell.
Keenan Beasley is the co-founder of BLKBOX, a marketing and intelligence agency that works closely with Facebook. Beasley joins Cheddar to give his take on Facebook earnings. Beasley is impressed by the increase of active users and believes ad revenue will just continue to grow. Beasley expects Facebook to produce less ads, but each advertisement will be more valuable, more expensive to buy, and therefore create higher profits for Facebook.
Aerospace startup Atomos Space, which is developing a series of orbital transfer vehicles to help reposition satellites in space, recently closed on a $16 million financing round. CEO Vanessa Clark and COO William Kowalski joined Cheddar News to discuss the company's operations ahead of its launch.
The legacy automaker Ford says its keeping sustainability in mind in its return to the F1 racing circuit and its future EV plans following a turbulent quarter.
The Justice Department has been scrutinizing a controversial artificial intelligence tool used by a Pittsburgh-area child protective services agency following concerns that the tool could lead to discrimination against families with disabilities, The Associated Press has learned.
The U.S. Treasury Department has changed the standard for what kind of electric vehicles qualify for a federal tax benefit under the Inflation Reduction Act.
