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.
One month after its launch, new streaming venture CNN+ announced it was shutting down. Seth Schachner, the managing director of StratAmericas and digital business executive, joined Cheddar News to talk about the high-profile media flop. "That's a really, really different beast than what HBO Max is, which is video streaming, entertainment features," he said. “It's a tough sell when you really look at these things in the cold light of day as to whether or not they actually fit together."
Meta wants creators to make money from the metaverse, but it's going to take a large chunk of the cut. The tech giant is planning to keep nearly 50% of all digital asset sales within Horizon Worlds, the virtual reality platform that's considered an integral part of the company's unfolding metaverse. Rolf Illenberger, Co-founder and Managing Director of VRdirect, joined Cheddar to discuss why Meta is taking heat for this move, and what it could be doing as an alternative to help support creators, small businesses, and consumers.
Catching you up on what you need to know on April 18, 2022, with Russian missile attacks on the Ukrainian city of Lviv killing seven, mass shootings in South Carolina and Pittsburgh, Lucky Charms cereal under official investigation by the FDA, and more.
Lisa Whalen, Automotive and Mobility Analyst at Morning Consult, joined Cheddar News' Closing Bell to break down the famed auto show's emphasis on electric vehicles this year, reflecting a shift toward electrification in the automotive industry.