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.
Facebook is changing its company name to Meta. The social media giant is rebranding itself to focus on building the metaverse, a futuristic, immersive experience that would allow people to interact virtually on a daily basis. Steve Sosnick, Interactive Brokers' Chief Strategist, joined Cheddar to discuss the implications of the metaverse and why Facebook is making the move now.
Mark Sebastian, CIO of Karman Line Capital & Founder of OptionPit.com, discusses the inflation headwinds impacting the market and how scrutiny over Facebook's practices could impact revenue for the social media giant going forward.
Just days after Facebook's Meta announcement, Microsoft announced that it will be launching its own mixed reality platform called Mesh through Teams. Jared Spataro, corporate vice president at Microsoft 365, joined Cheddar to provide some additional insight into this metaverse for businesses and how they can benefit from incorporating the tech. Among the features, Mesh users will be able to use cartoon-like avatars to interact with colleagues in an immersive virtual environment.
Cheddar gets a look at Curiosity Stream's 'Ancient Oceans'; Deep-sea biologist Heather Bracken-Grissom sheds light on some of the monsters that we can and cannot explain lurking in the darkness of the ocean's depths; Tim Janssen, CEO of Sofar Ocean, discusses Sofar Ocean's latest round of Series B funding, and how Sofar Ocean is helping connect all five oceans to help everything from climate change to the global shipping industry.
Tim Janssen, CEO of Sofar Ocean, joins 'Cheddar Reveals' to discuss Sofar Ocean's latest round of Series B funding, and how Sofar Ocean is helping connect all five oceans to help everything from climate change to the global shipping industry.
Bob Carter, EVP of sales at Toyota Motor North America, joined Cheddar to discuss the company's first all-electric SUV, the BZ4X, to be available in the United States in spring of 2022. Carter also went into the ongoing global semiconductor chip shortage that forced the automaker to slash production by 15 percent in November impacts on production and the other electric vehicle model being offered from its Lexus brand.
Ted Mortonson, Technology Strategist at Baird, joined Wake Up With Cheddar to break down the factors that led to weaker-than-expected earnings results for the two tech giants, and whether they can find solutions to these issues in the coming months.
Carlo and Baker cover the big races to watch on this off-cycle Election Day, the concrete pledges starting to come out of COP26, Jeffrey Epstein keeps causing CEOs to lose their jobs, and Ryan Murphy's TV hit that wasn't.
