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.
OpenAI has released a fourth version of ChatGPT, called GPT-4, that understands images. This means it can look at a photo and provide general information about what's in it.
At its annual health event on Tuesday, Google announced a series of changes to its search tool that it said will make it easier to access information about affordable health care services.
Roku was among those businesses impacted by the fall of Silicon Valley Bank, having around 26 percent of its cash and cash equivalents deposited at the bank.
