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.
Amazon says it had its best Prime Day sales event ever this week with $14.2 billion spent online on Tuesday and Wednesday, up 11% compared to last year.
Robo Global indexes integrate robotics, AI, and healthcare tech, showcasing AI's role in advancing robotic applications and sustaining market resilience.
Despite economic concerns and a cooling labor market, construction shows resilience, with 27,000 new jobs created and a decreased unemployment rate of 3.3%.
