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.
YouTube is working to ensure that fake news surrounding COVID-19 vaccines, or any other vaccine, is removed from the platform. The media giant has begun wiping videos related to conspiracies, vaccine testimonies, and other content that says approved vaccines are dangerous.
Payment processing platform Square is partnering with TikTok to direct users from the social media platform to Square's seller pages through ads and videos. The announcement comes on the heels of TikTok revealing that it has a staggering one billion daily active users.
Despite the competition, Netflix is still a leader in the streaming space with more than 200 million subscribers, and now the public is getting a peek for the first time into just how popular the platform remains after viewer numbers for its top titles were unveiled.
