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.
Blue Bear Capital, a venture and growth equity firm focusing on AI-powered solutions for the world’s energy, infrastructure, and climate challenges, recently announced it has raised $150 million dollars in new funding. Ernst Sack, Partner at Blue Bear Capital, joins Cheddar Climate the vision his company has when it comes to combating climate change.
Tinder is working to keep users on the platform for longer periods by introducing its own in-app currency. Users can collect coins by staying active on the dating app or purchasing them. The currency can then be used on features like Super Likes or Boosts.
The Drone Racing League kicked off its 2021-2022 world championship season this week. Spanning across 14 different locations over the course of the year, 12 of the world's best drone pilots will be racing against each other to bring home the title. Drone racing has grown in popularity over the past year, with the Drone Racing League seeing an uptick of nearly 200 percent average viewership, 90 percent in virtual drone racing participation and 60 percent fanbase growth over social media. Rachel Jacobson, President of the Drone Racing League, discusses the future of the sport and why she thinks drone racing will soon be on par with traditional sports.
Electric vehicle charging company Wallbox goes public via a SPAC on the NYSE under the ticker symbol WBX.
Wallbox has merged with special purpose acquisition corporation Kensington Capital Acquisition. Enric Asunción, CEO of Wallbox, joins Cheddar News' Closing Bell to discuss.