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.
Cheddar's Ken Buffa took the Pixel 6 Pro for a test drive, highlighting some of the new features. The latest Google smartphone comes with an upgraded camera visor that holds three cameras in place as well as Gorilla Glass Victus covering the front and back protecting against drops and scratches. The device also contains Google's first homemade processor chip called Tensor and retails for about $899.
Dems race for a deal on President Biden's economic agenda ahead of his big foreign trip. What to make of the latest threat assessment in Afghanistan. Plus, the meme cryptocurrency of the moment that's now worth more than many Fortune 500 companies.
GM exceeded earnings expectations, yet still felt the chip shortage squeeze. Baron's Senior Writer Al Root discussed GM's segue into the electric car car world despite its struggles.
The freight industry has its newest unicorn. Flock Freight recently reached the $1 billion mark after recently raising $215 million dollars. It comes during a watershed moment for the global shipping and freight industry, with the pandemic and other issues leading to the ongoing supply chain crisis.
Flock Freight and its shared truckload service may be a solution. Flock Freight CEO Oren Zaslansky joined Cheddar News' Closing Bell to discuss.
