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.
SpaceX launched its first all commercial-crew mission to the International Space Station on Friday. Cheddar News speaks with Jim Cantrell, CEO and President of Phantom Space Corporation why this launch is a big leap for space tourism.
Nautilus Labs closed $34 million in funding from investors including the Microsoft Climate Innovation Fund. The company plans to use its funding to improve shipping industry efficiency with its software. Nautilus CEO Matt Heider joined Cheddar News to talk about how it tackles the carbon emissions in the global supply chain. "We've seen on 10-day voyages saving $60,000 worth of fuel just by managing speed with greater confidence around the future. The environmental impact of that is also huge," he said. "Saving that amount of fuel is a kind of taking over 1000 cars off the road this year."
A Glassdoor study reports that internship programs at companies like Roblox, Uber, and Salesforce offered the highest compensation levels in 2020 — nearly $10,000 a month. Daniel Zhao, a senior economist at Glassdoor, joined Cheddar News to talk about why big tech companies are paying top dollar for their interns. "I think what we're seeing is that companies are pushing more aggressively to engage with these candidates before they’ve even graduated, really because of the level of competition that they are facing, especially for these very high-value STEM graduates," he said.
Dubbed the "Ethereum Killer," Solana is known for its super-fast, low-cost transactions, which has proven attractive to defi companies looking to scale up quickly.
