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.
Barry Valentine, senior advisor at The Wicks Group and former FAA administrator, joined Cheddar News to discuss the massive system outage that caused thousands of flight delays.
Gavin Jackson, CEO of UK-based autonomous vehicle company Oxbotica, joined Cheddar News to talk about the firm's software for businesses and its future plans.
Steve Patton, EY Americas Mobility Sector Leader, joins Cheddar News at CES in Las Vegas to break down what needs to happen in order to make EV adoption a reality.
Roger Cheng, executive editor of CNET, joined Cheddar News to discuss a Semafor report that Microsoft is in negotiations to invest $10 billion in OpenAI, parent company of ChatGPT.
