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.
Apple has revealed that the tech giant is working more on going green, reporting the use of more recycled materials than ever before. It's setting sustainability goals, aiming to cut emissions by 75 percent in the next 10 years and eventually ending the use of plastic in packaging.
Chipotle is investing $50 million into a venture capital fund to aid tech startups that focus on operations. Chief Technology Officer Curt Garner joined Cheddar News to talk about how the fast-casual chain is innovating its brand strategy with the fund. "We look for technologies that elevate the human experience, and that human experience can occur with our customers as they come into our restaurants and very importantly our employees as well," he said.
The telecom giant AT&T is looking to make online learning more fun for students by engaging them with content from its partners at Warner Bros. Discovery. Mylayna Albright, the assistant vice president of corporate social responsibility for AT&T, joined Cheddar to discuss how the company came about with the free digital e-learning program that it's calling The Achievery. "We knew that once students went home as a result of the pandemic, it was very difficult for them, and we knew from research, specifically through Morning Consult, that parents and teachers realized that probably 80 percent of students felt that they would be more engaged if they had a more entertaining approach," she said.
Sourceful is an all-in-one platform for sourcing sustainable materials. The startup recently raised $20 million in a Series A round led by Index Ventures. Through its platform, Sourceful helps businesses find and design more eco-friendly packaging and reduce the carbon footprint of their supply chains. Wing Chan, Co-Founder and CEO of Sourceful, joined Cheddar News' Closing Bell to discuss.
