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.
As U.S. cities and airlines are weighing COVID-19 protocols like mask and vaccine mandates, Canada continues to ban travelers who are not fully vaccinated -- including professional athletes. The MLB season is now underway, and the Toronto Raptors have advanced to the NBA playoffs, so several athletes are expected to not participate in upcoming games in Canada. Gabe Lacques, MLB reporters and Baseball Editor for USA Today Sports, joins Cheddar News' Closing Bell to dsicuss.
Bence Jendruszak, COO and Co-Founder of SEON, joined Cheddar News' Closing Bell, where he says his platform sees more victims of online fraud during economic downturns, but explains why his company's solution can stop that trend.
Andrew Miller, Chief Operating Officer at Benchmark Mineral Intelligence, joined Closing Bell to discuss the warning from Rivian's CEO about a possible EV battery shortage due to lack of access to key metals like lithium.
Fathom Digital Manufacturing, one of the largest on-demand digital manufacturing platforms in North America, went public late last year and serves the product development and manufacturing needs of companies such as Google, Amazon, Tesla, Johnson & Johnson, and more. CEO Ryan Martin joined Cheddar's Opening Bell to discuss what the IPO means to the company and how he thinks digital manufacturing can help mitigate supply chain issues seen throughout the pandemic. "We can take parts that would take 4-6 weeks condense that down into just days using additive manufacturing in many cases. And so it's all about speed," he said.
