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☆ Meta to report first-quarter results after the bell
▼ + stars: | 2024-04-24 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Meta will report first-quarter results after the bell Wednesday. Revenue: $36.16 billion, according to LSEG. $36.16 billion, according to LSEG. Analysts expect Meta to report a 26% increase in revenue from $28.65 billion a year earlier. Analysts at Baird said in a Monday note that slower spending from China-based advertisers could be a source of concern in the first-quarter results.

Persons: Meta, Mark Zuckerberg, Zuckerberg, Susan Li, Baird Organizations: StreetAccount, Meta, Facebook Locations: LSEG, China

☆ Meta Platforms gets billions from China without headaches many U.S. companies face there
▼ + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

As many American companies struggle to navigate the world's second-largest economy, Meta Platforms has found itself raking in billions of dollars from China without the direct challenges of doing business there. The influx in spending from Chinese ecommerce advertisers has been a "significant positive" for Meta, said Rohit Kulkarni, analyst at Roth MKM covering internet companies. Many American companies doing business in China have battled similar challenges as the post-Covid recovery there has progressed slower than expected. Meta has said it has a "diverse advertiser base" of Chinese companies. The concern is that as more Chinese advertisers target American consumers through Meta's platforms, that could drive up the price of ads for everyone.

Persons: Temu, Rohit Kulkarni, Roth, Meta's, Piper Sandler, Tom Champion, Estee Lauder, Meta, Susan Li, Shein, Kate Scott, Dawkins, —, Roth's Kulkarni, Piper Sandler's, they're, Josh Silverman, we're, Piper, doesn't, Jim Cramer's, Jim Cramer, Jim, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Club, Super, U.S, Meta, Apple, Facebook, Tencent, Holdings, Nasdaq, CNBC, Wall Street, Google, European Commission, AFP, Getty Locations: China, Ireland, Shanghai, Singapore, U.S, Meta, Brussels

☆ Digital ad market shows signs of sharp rebound as Meta, Amazon point to growth
▼ + stars: | 2024-02-05 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

During that period Meta's ad revenue fell 4%, and Google's ad business suffered a similar drop . A year ago, Meta finance chief Susan Li offered chilling commentary about the state of the digital ad market, telling analysts that the struggling industry would remain in a slump. Meanwhile Alphabet, still the market leader, saw its Google ad business rise 11% to $65.5 billion, boosted by 16% growth at YouTube. Investors will get additional data on the digital ad market when Snap and Pinterest report earnings this week. On the whole, "digital advertising is continuing to eat up share" of worldwide advertising, Williamson said.

Persons: Li, Susan Li, Debra Aho Williamson, William Blair, Williamson, Meta Organizations: Google, YouTube, Insider Intelligence, CNBC, Intelligence, Meta, Investors, Bank of America Global Research Locations: Paris, Russia, Ukraine, China, Red

☆ Big Tech's AI spending plans mean big business for 3 portfolio stocks, including Nvidia
▼ + stars: | 2024-02-02 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

Some of Amazon's spending is likely to go toward its custom AI chips, known as Trainium and Inferentia. But the Seattle-based tech giant also buys Nvidia chips. On Thursday's post-earnings call, CEO Andy Jassy said AWS offers the "most expansive collection of compute instances with Nvidia chips." Alphabet's spending on AI chips has typically been split between its custom chips designed in partnership with Broadcom, known as Tensor Processing Units (TPUs), and Nvidia's offerings. Including networking products that stitch together parts of the data center, about 15% of Broadcom's semiconductor revenue was tied to generative AI spending in fiscal 2023.

Persons: Eaton, Brian Olsavsky, FactSet, Amazon's capex, Andy Jassy, Meta's capex, Susan Li, Li, Mark Zuckerberg, Zuckerberg, Meta, it's, —, Amy Hood, It's, chatbot ChatGPT, AMD's, Ruth Porat, Porat, Jim Cramer's, Jim Cramer, Jim, Florian Gaertner Organizations: Big Tech, Nvidia, Broadcom, Eaton, Microsoft, Meta, Google, Web Services, Facebook, Devices, OpenAI, supercomputing, TPUs, CNBC, YouTube, Photothek, Getty Locations: Eaton, Seattle

☆ Tech's longtime highfliers are growing up by getting smaller
▼ + stars: | 2024-02-02 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

They're still out hunting for the best technical talent, particularly in areas like artificial intelligence, but headcount growth is measured. Last year, tech companies were responding to dramatically changing market conditions — soaring inflation, rising interest rates, rotation out of risk — after an extended bull market. Meta slashed over 20,000 jobs in 2023, Amazon laid off more than 27,000 people, And Alphabet cut over 12,000 positions. Other than Nvidia , which had a banner 2023 due to soaring demand for its AI chips, none of the other mega-cap tech companies have been growing at their historic averages. By late this year, analysts are projecting growth at Meta will be back down to the low teens at best.

Persons: Tayfun, There's, Daniel Flax, Neuberger Berman, CNBC's, Morgan Stanley, Brian Nowak, Brian Olsavsky, They're, Mark Zuckerberg, Zuckerberg, Olsavsky, Phil Spencer, Justin Sullivan, Okta, Zuora, Evan Sohn, Recruiter.com, " Sohn, Susan Li, Ben Barringer, Cheviot, Barringer, —, Annie Palmer Organizations: Anadolu Agency, Getty Images Technology, Amazon, Meta, hasn't, Microsoft, Activision Blizzard, SAN FRANCISCO, Activision, FTC, Getty, Federal, Labor Department's Bureau of Labor Statistics, Tech, Nvidia, Finance, CNBC Locations: Menlo Park , California, Silicon Valley, CALIFORNIA, San Francisco , California

☆ Why Meta's shiny new dividend and whopping $50 billion buyback plan may divide investors
▼ + stars: | 2024-02-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Mark Zuckerberg's Meta declared its first dividend and another $50 billion in approved buybacks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeta announced its first dividend and another $50 billion of authorized stock buybacks in its fourth-quarter earnings on Thursday. The social-media giant is clearly eager to reward its shareholders, but its latest moves could divide investors. Meta's new dividend and large-scale buybacks are intended to show it values its shareholders and wants to reward them.

Persons: Mark Zuckerberg's Meta, Warren Buffett, —, Susan Li, Nigel Green, Tesla, Instagram, Warren Buffett's Berkshire Hathaway doesn't, allocator, Buffett, Zuckerberg, Apple's buybacks, Kraft Heinz Organizations: Service, Meta, Reality Labs, Facebook, Warren, buybacks, Chevron, Kraft

☆ Knockout Meta profit wasn't even the best surprise of the quarter for investors
▼ + stars: | 2024-02-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +11 min

Generative AI, as expected, was a big focus of the earnings call. He also noted the company's advanced virtual assistant, Meta AI, was made fully available in the U.S. by the end of 2023, and the firm is testing more than a dozen other generative AI features. But investors across the tech industry are increasingly wondering when all the spending on generative AI will translate to revenue – and that's no different for Meta. Nevertheless, Li said Meta's suite of generative AI tools for advertisers is its biggest near-term monetization opportunity. Further down the road, Li indicated that business messaging is another compelling opportunity to make money from generative AI.

Persons: Mark Zuckerberg's, Meta, Zuckerberg, Susan Li, Mark Zuckerberg, Li, EssilorLuxottica, Jim Cramer, Ray, Meta's, it's, Jim Cramer's, Jim, Justin Sullivan Organizations: Revenue, LSEG, Meta, Reality Labs, Daily, Facebook, Management, Quest, VR, Apple, Vision, UBS, Pro, CNBC Locations: —, Instagram, U.S, Menlo Park , California

☆ Meta to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Meta will report fourth-quarter earnings after the bell on Thursday. In Alphabet 's earnings report on Tuesday, the company said Google ad revenue increased 11% from a year earlier, slower expansion than analysts were expecting. Meta finance chief Susan Li most recently highlighted the significance of business from China in the company's third-quarter earnings report in October. Analysts expect Reality Labs to show revenue of $762.8 million for the quarter and an operating loss of $4.26 billion, according to StreetAccount. Apple and Amazon are also slated to report fourth-quarter results on Thursday, wrapping up earnings season for tech's mega-cap companies.

Persons: Mark Zuckerberg, Meta, Susan Li, Li, Zuckerberg Organizations: U.S, Capitol, LSEG, StreetAccount, Google, Facebook, Meta, Wednesday, Labs, Apple Locations: Washington , U.S, China

☆ Meta's continued rally could hinge on the fortunes of upstart retailers Temu and Shein
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +9 min

Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.

Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta

☆ 'Pretty inexpensive': Morgan Stanley bullish on one Big Tech stock, says it looks cheap on some metrics
▼ + stars: | 2023-11-16 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Shares of tech giant Meta Platforms are set to jump over 10% in the next 12 months, according to Brian Nowak, an equity analyst at Morgan Stanley. While Meta has been on investors' radars, the stock was under pressure last month during a recent tech sell-off. META YTD mountain Year-to-date share price of Meta Going forward, Nowak remains overweight on the tech giant. Nowak also believes the tech giant's strength comes from the discipline on its operating expenditure. It will also result in incremental Reels ad revenue of $11.4 billion in 2024 and $12.9 billion in 2025, the analysts led by Nowak detailed.

Persons: Brian Nowak, Morgan Stanley, Susan Li's, –, Li, Nowak, CNBC's, —, Isabella Lok Organizations: Meta, Apple, Microsoft, Nvidia, Tesla, Facebook Locations: U.S

☆ Meta is returning to China 14 years after Facebook was blocked by striking a deal with Tencent to sell its VR headsets
▼ + stars: | 2023-11-10 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Meta is making a comeback to China 14 years after Facebook was blocked from being accessed there. The firm has struck a deal with Tencent to sell VR gear in 2024, The Wall Street Journal reported. Deals with Chinese firms are among the few ways big US tech companies can get a foothold there. China has largely banned US tech firms , bar Apple, from doing business there for several years. Meta still extracts cash out of China through Facebook and Instagram ads it sells to Chinese companies.

Persons: Tencent, —, Susan Li, Meta didn't Organizations: Facebook, Street Journal, Service, titans, Apple, Baidu, Meta, ABC News Locations: China, Xinjiang, Urumqi, Meta's

☆ Meta’s China quest thaws thin layer of dense cube
▼ + stars: | 2023-11-10 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

In August, the United States banned domestic companies from making some new investments in Chinese tech, including computer chips and artificial intelligence systems. Chinese-based ByteDance, the owner of TikTok, counts the United States as its largest market. Selling virtual reality hardware primarily used for gaming is also an easier way of entering China. CONTEXT NEWSMeta Platforms struck a preliminary deal to sell virtual reality headsets in China through an exclusive partnership with Tencent, the Wall Street Journal reported on Nov. 9. China banned Meta’s Facebook platform from the country in 2009 and subsequently banned its WhatsApp and Instagram services as well.

Persons: Carlos Barria, Susan Li, Joe Biden, China’s Xi, Biden, Meta’s, Meta, ByteDance’s, Apple’s, Lauren Silva Laughlin, Sharon Lam Organizations: Meta, REUTERS, Reuters, HK, Wall Street, Facebook, United, Huawei, Companies, Republican, Tencent, Google, New York Times, Thomson Locations: Menlo Park , California, U.S, China, Beijing, Washington, United States, San Francisco, Texas, Florida, Montana

☆ Trade Desk shares plunge about 30% on weak guidance tied to auto, Hollywood strikes
▼ + stars: | 2023-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

The Trade Desk shares plunged about 30% in after-hours trading on Thursday after the ad-tech company issued fourth-quarter revenue guidance that fell well short of analysts' estimates. A Trade Desk spokesperson told CNBC that guidance came "in slightly below consensus, largely because the transitory cautiousness from advertisers in certain verticals, such as U.S. auto and media/entertainment due to the strikes." The United Auto Workers launched targeted strikes at select facilities against the Detroit automakers beginning Sept. 15, and then expanded the stoppages. Trade Desk said third-quarter sales jumped 25% from $493 million a year earlier. Net income increased to $39 million, or 8 cents a share, from $16 million, or 3 cents, a year earlier.

Persons: Jeff Green, Green, Susan Li Organizations: LSEG, CNBC, United Auto Workers, Detroit, UAW, General Motors, Ford Motor, Guild of America, Trade, Meta, Comcast, Cisco Systems Locations: Israel

☆ Mark Zuckerberg ignored teen and user safety warnings from Meta executives
▼ + stars: | 2023-11-08 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

The disclosures highlight Zuckerberg’s sway over decisions at Meta that can affect billions of users. And they also shed light on tensions that have occasionally arisen between Zuckerberg and other Meta officials who have pushed to enhance user well-being. In response to the newly unsealed communications, Meta spokesman Andy Stone said such image filters are commonly used in the industry. “These unreacted documents prove that Mark Zuckerberg is not interested in protecting anyone’s privacy or safety. “Clegg’s comments follow a pattern and practice at Meta where employees repeatedly flagged under-investment in well-being tools, despite having the research,” Qureshi said.

Persons: Mark Zuckerberg, —, Zuckerberg, Adam Mosseri, Global Affairs Nick Clegg, Karina Newton, Fidji Simo, Margaret Gould Stewart, Simo, Mosseri, Stewart, Newton, Andrew Bosworth, Andy Stone, ” Stone, “, Stone, Meta, Clegg, Frances, Instagram, Haugen, ” Zuckerberg, Susan Li, Li, David Ginsberg, Ginsburg, Li “, Arturo Bejar, Bejar, Instagram’s, ” Bejar, I’ve, ”, Sacha Haworth, Zamaan Qureshi, ” Qureshi Organizations: CNN —, Facebook, Global Affairs, Massachusetts, Meta, CNN, ” Tech, Technology, Tech Locations: Massachusetts, United States, Mosseri

☆ Snap conducts a small round of layoffs to its product team
▼ + stars: | 2023-11-08 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +1 min

Snap has conducted a round of layoffs as part of a reorganization intended to streamline the social-messaging company. Nearly 20 employees who held product management titles were laid off, Snap said in a statement on Wednesday. The layoffs were not centered on any specific product and were part of the company's plans to increase decision-making speed and reduce overhead, the company said. The layoffs come after Snap recently reported third-quarter earnings in which its overall sales grew 5% year-over-year to $1.19 billion, beating analyst expectations. As a result, Snap said it would not provide official guidance "due to the unpredictable nature of war."

Persons: Evan Spiegel, Porte, Susan Li, Sen, Blumenthal, Blackburn Organizations: Snap Inc, Viva Technology, Porte de, Technology, Meta Locations: Paris, France, Israel

☆ The US economy is surging – but problems elsewhere could still torpedo profits for big companies like Apple and Tesla
▼ + stars: | 2023-11-01 | by ( Huileng Tan | George Glover | ) www.businessinsider.com time to read: +6 min

The US economy is surging, with growth coming in at a hotter-than-expected 4.9% for the third quarter. But problems elsewhere could still be bad news for big US companies, including Apple and Tesla. China's slowing economy and the war between Israel and Hamas are both potential headwinds, according to analysts. AdvertisementAdvertisementThe China challengeThat's bad news for mega-cap US firms such as Apple and Tesla, which count the Asian nation as a major market. On balance, risks to global growth continue to be skewed to the downside," the International Monetary Fund said in its Global Financial Stability report published last month.

Persons: —, Ukraine — that's, headwinds, Goldman Sachs, GfK, Michael Field, it's, Tom Donilon, Susan Li, Li Organizations: Apple, Service, Nvidia, Intel, Nike, China —, Morningstar Research, stoke, of America, DuPont, Procter, Gamble, International Monetary Fund Locations: Israel, China, Ukraine, Beijing, BlackRock, Iran

☆ The advertising environment is getting tougher to navigate. How these investors are trading it
▼ + stars: | 2023-11-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

A strong advertising market may be starting to feel the pressure from geopolitical risks erupting aboard and a higher-for-longer interest rate environment. But comments from some major technology players last week led to increasing questions that some investors have struggled to shake off. META 5D mountain Meta shares in recent trading sessions That concern added to declines in other ad-focused technology names, with Alphabet dropping nearly 10%. Instead, Tengler favors companies such as Amazon and Microsoft , which offer some, but less concentrated, exposure to advertising. Technology investor Paul Meeks is also shying away from the most popular advertising players — and big technology as a whole — until he sees a better setup for interest rates.

Persons: Susan Li, Gene Munster, Laffer, Nancy Tengler, Paul Meeks, Meeks, Roth, Rohit Kulkarni, Kulkarni, Michael Bloom Organizations: Apple, Meta, YouTube, Federal, Investments, Microsoft, Technology Locations: Israel, Munster, Ukraine

☆ Pinterest stock rockets 18% after earnings beat, advertising outlook
▼ + stars: | 2023-10-31 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +3 min

Pinterest stock rose more than 18% Tuesday after beating earnings estimates for the third quarter and assuaging concerns over potential ad revenue loss due to the Israel-Hamas war. The company posted an adjusted earnings per share of 28 cents, beating the LSEG estimate of 20 cents. Pinterest also soundly beat revenue expectations, reporting $763.2 million, versus analysts' estimates of $743.5 million. For much of earnings season, the market has been skittish toward companies reliant on ad revenue due to the unclear future effects of the Israel-Hamas war. Pinterest's mobile deep linking ad product was also a highlight, due to its more than 200% increase in the conversion rate, wrote the Barclays analysts.

Persons: Pinterest, Susan Li, Bill Ready, Gen, Morgan Stanley, Jonathan Vanian Organizations: Meta, Barclays, Citi, Pinterest, Shop, CNBC Locations: Israel

☆ Is Meta a buy after the brutal tech sell-off? Here's what the pros are saying
▼ + stars: | 2023-10-31 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Both Meta Platforms and Alphabet saw their shares caught up in a broad tech sell-off last week — but several analysts remain bullish. On Meta, concerns emerged last week following CFO Susan Li's comments on the advertising market in the fourth quarter. META YTD mountain Year-to-date share price movement in Meta Year-to-date, shares in Meta are up over 150% higher. Morgan Stanley views Meta as one of the companies best positioned to weather the volatility in the tech sector. We would be buying the pullback in Meta shares" in an Oct. 26 note.

Persons: Susan Li's, Dan Ives, CNBC's, He's, it's, Meta, Ives, Meta they're, pricings, Mark, Zuckerberg, Morgan Stanley, —, Jonathan Vanian, Michael Bloom Organizations: Facebook, Meta, Wedbush Securities, Labs, JPMorgan, Baird Equity Research Locations: Meta

☆ Pinterest jumps on better-than-expected third-quarter results
▼ + stars: | 2023-10-30 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

A banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange on the morning Pinterest made its initial public offering, April 18, 2019. Pinterest reported third-quarter earnings on Monday that beat on the top and bottom lines. Here's how the company did:Revenue : $763.2 million vs. $743.5 million expected, according to LSEG, formerly known as Refinitiv. : $763.2 million vs. $743.5 million expected, according to LSEG, formerly known as Refinitiv. For the fourth quarter, Pinterest said it expects revenue growth of 11% to 13%.

Persons: Pinterest, Bill Ready, Susan Li, wouldn't, Brad Gerstner Organizations: New York Stock Exchange, Meta, Company Locations: Israel

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ The Israel-Hamas war is affecting the financial outlooks of these large companies
▼ + stars: | 2023-10-28 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Aris Messinis | AFP | Getty ImagesSome of the world's most well-known companies are already seeing the Israel-Hamas war weighing on operations. On Oct. 7, militant group Hamas struck Israeli towns in a surprise attack and took more than 200 hostages. Corporations that do business or have operations in the region have already begun seeing the war change their financial outlooks as the unrest weighs on everything from advertising dollars to tourism to supply chains. Technology companies were among those seeing the conflict affect the workforce, advertising spending and supply chains. Snap said in its latest earnings release that it saw pauses in spending from a "large number of primarily brand-oriented advertising campaigns" immediately after the war began.

Persons: Aris Messinis, Scott Kirby, El Al, Jason Liberty, Liberty, we're, Susan Li, Li, We've, John Morici Organizations: Hamas, AFP, Getty, Israeli Defense Forces, Corporations, United Airlines, Delta Air Lines, American Airlines, Boeing, Royal, Israel, El Al Airlines, Nurphoto, U.S . Department of State, Technology, Facebook, West Pharmaceutical Locations: Haifa, Cyprus, Israel, Palestinian, Gaza, Tel Aviv, Royal Caribbean, Ukraine

☆ Big Tech earnings highlighted big spending on artificial intelligence. Here's what it means for AI king Nvidia
▼ + stars: | 2023-10-27 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

All four companies are buyers of Nvidia's cutting-edge AI chips, which dominate the market for training the massive models that power applications like the viral ChatGPT. "I think that Nvidia is the quiet partner behind the winners including Microsoft," Jim Cramer said Friday. Notably, about 3 percentage points of Azure's growth was linked to customer AI spending, Hood said. Amazon Amazon's results and earnings call Thursday added to the body of evidence on AI spending as a priority at U.S. tech giants. This week's slate of Big Tech earnings left little doubt that, as more Nvidia chips become available, there will be a place inside data centers for them to go.

Persons: haven't, —, Jensen Huang, Jim Cramer, NVDA, Jim, Amy Hood, Hood, Ruth Porat, Porat, Susan Li, Brian Olsavsky, Andy Jassy, Jassy, It's, Jim Cramer's, Jensen Huang Getty Organizations: Nvidia, Big Tech, Microsoft, Facebook, U.S, Google, Broadcom, AWS, Loop, Taiwan Semiconductor Manufacturing Company, CNBC Locations: China, OpenAI, Amazon's

☆ Meta stock's bad run continues, with its market value wipeout deepening to $60 billion on execs' warning of an advertising slowdown
▼ + stars: | 2023-10-26 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

The Big Tech giant beat analysts' forecasts, but execs warned of a fourth-quarter slowdown in advertising revenues. Meta is on a bad run, with its market value on pace to fall $60 billion in the space of four trading sessions. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementMeta Platforms' stock price slipped in premarket trading Thursday, with so-so earnings failing to stop a bad run for the Big Tech giant. Meta's losses Thursday threaten to extend the tech firm's bad run this week.

Persons: —, Susan Li, Li Organizations: Big Tech, Meta, Service, London Stock Exchange Group Locations: Thursday's, Israel

☆ Meta shares dip following cautious commentary about unrest in the Middle East
▼ + stars: | 2023-10-26 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Shares of Meta initially rose after the report but the gains were erased when Meta's finance chief Susan Li warned analysts about unpredictability in the Middle East. As a result of the conflict in Israel, Meta gave fourth-quarter guidance between $36.5 billion to $40 billion. Meta reported $34.15 billion in revenue for the quarter, up 23%, and the fastest rate of growth since 2021. Evercore analysts said "the BIG negative" from the call was that brand advertising demand has slowed as a result of the war. Despite the slowing brand advertising demand, the Evercore analysts said a lot is "working" at Meta.

Persons: Li, Susan Li, Meta, Mark Zuckerberg, Morgan Stanley Organizations: Meta, Facebook, Paley Center For Media, Deutsche Bank Locations: Israel, New York, Ukraine, Meta

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