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.
Catching you up on what you Need to Know on March 16, 2022, with updates on Ukraine and Russia, a container ship gets stuck in the Chesapeake Bay, Disney employees stage a walkout over the "Don't Say Gay" law in Florida, and NASA completes its first spacewalk of 2022.
Janet Balis, EY Marketing Practice Leader, joins Cheddar News at South by Southwest to break down what exactly the metaverse is, how brands can start to break into this experience, and why to keep the digital divide in mind as the metaverse grows.
U.S. chipmaker Intel unveiled plans on Tuesday to invest up to $88 billion across Europe as part of an ambitious expansion aimed at evening out imbalances in the global semiconductor supply chain.
Dustyn Kim, Chief Revenue Officer at Artsy, joins Cheddar News' Closing Bell, where she says increasing demand helped push the online art marketplace to NFTs and outlines how her company is helping educate investors looking to learn more about digital assets.
Food technology startup Tender Food raised $12 million in a seed round led by Chris Sacca's Lowercarbon Capital. Tender says it specializes in creating alternative meats with an authentic texture and is on a mission to make alternative meats so delicious, nutritious, and affordable, that eating meat from animals will no longer make sense. Christophe Chantre, co-founder & CEO of Tender Food, joins Cheddar News' Closing Bell to discuss.
With the number of Ukrainians being displaced due to the Russian invasion surging, two students from Harvard took it on themselves to develop a website to help connect potential hosts with refugees seeking housing. The co-founder of the website Ukraine Takes Shelter, Marco Burstein, joined Cheddar news to discuss working together with fellow freshman Avi Schiffmann to streamline the effort to aid Ukrainian refugees. "We basically worked for three days straight developing the website, and since then the response has been pretty incredible," Burstein said.
