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.
Fresh off of receiving an innovation award at ShowStoppers @ CES 2022, Iasha King, co-founder of SOLO Secure joined Cheddar to explain how its platforms, the GoSOLO app and the SOLO Backpackpacker device, helps improve personal safety for users. "People just don't know what's going on around them, so it's very important that you're using smart technology to provide them with what's going on," she said. "For example, if there has been an increase in robberies in a neighborhood, that's something that our technology would inform a user."
Ellen Fitzsimmons-Craft, assistant professor of psychiatry at Washington University School of Medicine, joins Cheddar News to discuss how chatbots can help prevent eating disorders and the research that uncovered these findings.
Markets closed the day mixed, and well off their lows of the day following a market meltdown earlier in the session. The Nasdaq staged a comeback late in the day, even amid ongoing worries about the Federal Reserve raising interest rates. Doug Flynn, certified financial planner and co-founder of Flynn Zito Capito, joined Cheddar News' Closing Bell to discuss the markets' close and what's driving the major indexes.
