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☆ 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

☆ 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

☆ 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

☆ Amazon’s advertising revenue tops $12 billion in the third quarter
▼ + stars: | 2023-10-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

(Photo by Joan Cros/NurPhoto via Getty Images)Amazon's online advertising business continues to boom amid growing investor concerns that the Israel-Hamas War could negatively impact the world economy. Analysts polled by StreetAccount were expecting Amazon's advertising business to generate $11.6 billion in third-quarter revenue. Investors closely monitor Amazon's online advertising unit, which now accounts for 7.5% of the global digital ad market, according to Insider Intelligence. Alphabet is still the digital advertiser leader with 28.4% share of the world online ad market, while Meta accounts for 20.1%, the research firm said. Alphabet reported third-quarter earnings this week and said that its Google advertising revenue jumped 9% year-over-year to $59.65 billion while YouTube ad sales rose 12% year-over-year to $7.95 billion.

Persons: Joan Cros, StreetAccount, Meta, Susan Li, Brad Gerstner Organizations: AMD, Amazon Marketing Services, Mobile, Getty, Intelligence, Meta, Facebook, Google, YouTube Locations: BARCELONA, SPAIN, Barcelona, Spain, Israel, Hamas

☆ Meta continues to burn through cash for its flailing metaverse and VR project, which lost $3.7 billion in the 3rd quarter
▼ + stars: | 2023-10-26 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Meta's Reality Labs division lost $3.7 billion in the third quarter. Meta said Reality Labs' revenue was down 26% this quarter, but it's still a "major long-term focus." Meta posted its third-quarter earnings report on Wednesday, which showed that Reality Labs lost $3.7 billion, the same amount as the previous quarter. Reality Labs is responsible for Meta's VR and metaverse push. It seems that Zuckerberg is exercising patience in seeing whether Reality Labs can reach profitability.

Persons: Meta, it's, —, Zuckerberg, Susan Li, they'd, Meta didn't Organizations: Reality Labs, Labs, Service, Meta, VR, Reuters, Staff

☆ 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

☆ CNBC Daily Open: Meta outperformance
▼ + stars: | 2023-10-26 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

(Photo by Spencer Platt/Getty Images)This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In its third-quarter earnings report, the Facebook parent said revenue increased 23%, its fastest rate of growth since 2021. Meta is seeing faster growth in its core digital advertising business as clients rebound from a tough 2022. Meta said it expects revenue of $36.5 billion to $40 billion for the fourth quarter.

Persons: Stocks, Spencer Platt, Ford, Mattel, Meta, Mark Zuckerberg’s, Susan Li, —, Jonathan Vanian Organizations: NEW, New York Stock Exchange, Labor Department, Getty, CNBC, Labor, United Auto Workers, IBM, Wall, Google, Meta, Labs, Treasury Locations: New York City, China, Israel

☆ 'AI advancement driving engagement': Here's how Wall Street is reacting to Meta's 3rd-quarter earnings
▼ + stars: | 2023-10-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Here's how Wall Street analysts are reacting to Alphabet's third-quarter earnings report. But soft guidance for Meta's fourth-quarter revenue, sparked by the Israel-Gaza war, could be contributing to the sell-off in the stock. Most Wall Street analysts view Thursday's decline in Meta stock as a buy the dip opportunity. Here's what they're saying:William Blair: "AI advancement driving engagement across the organization"Meta's work in artificial intelligence is encouraging to analyst Ralph Schackart at William Blair, who said in a Wednesday note that "AI advancement [is] driving engagement across the organization." AdvertisementAdvertisementMeta's AI tools for advertisers are also showing meaningful growth, with its Advantage Plus shopping campaigns scaling to a $10 billion revenue run rate.

Persons: WhatsApp, —, Meta, Susan Li, William Blair, Ralph Schackart, Schackart, Goldman Sachs, Eric Sheridan, Sheridan, Doug Anmuth, Anmuth Organizations: Facebook, Service, JPMorgan, Meta Locations: Israel, Gaza, Asia

☆ Tech stocks suffer two-day selloff as investors find 'wrinkle or two' in Alphabet, Meta earnings
▼ + stars: | 2023-10-26 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Alphabet's earnings sailed past Wall Street estimates after the markets closed on Tuesday. In Alphabet's earnings report, Wall Street fretted over the numbers out of the Google Cloud division, which is investing heavily to try and catch Amazon and Microsoft , particularly when it comes to managing hefty artificial intelligence workloads. The concern from Facebook parent Meta was sparked by comments that CFO Susan Li provided on the earnings call regarding the advertising market in the fourth quarter. Alphabet shares are down by about 12% over the past two days, while Meta has dropped roughly 7%. In emphasizing the potential business impact of war in the Middle East on its business, Meta spelled out those concerns to shareholders.

Persons: Meta, Ruth Porat, Susan Li, Li, Mark Zuckerberg, Sundar Pichai, Joe Biden, Mark Avallone, CNBC's, skittishness, You've, Avallone, trashing Organizations: Nasdaq, Apple, Google, Microsoft, Meta, Nvidia, Amazon, The Commerce Department, Hamas, Guggenheim, Potomac Wealth Advisors, YouTube Locations: what's, U.S, Ukraine, Potomac

☆ 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

☆ Meta's ad rebound gets huge assist from China even though its services are banned there
▼ + stars: | 2023-10-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

A Facebook sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Meta may be banned from operating in China, but the company is finding plenty of growth coming from the world's second-biggest economy. Susan Li, Meta's finance chief, told analysts on the earnings call that Chinese companies played a major role this quarter, continuing a theme from recent periods. Online commerce and gaming "benefited from spend among advertisers in China reaching customers in other markets," Li said. "Brazil was a strong contributor to the region's acceleration due in part to increased advertisers demand from China advertisers targeting users in Brazil," Li said.

Persons: Meta, Susan Li, Li Organizations: China, Facebook, North America, Google, Twitter, Meta Locations: Shanghai, China, Europe, Asia, Pacific, South America, Brazil, Israel

☆ Meta to report third-quarter earnings after the bell
▼ + stars: | 2023-10-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

Mark Zuckerberg, CEO of Meta, attends a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., Sept. 13, 2023. Meta is set to report third-quarter earnings after the bell Wednesday. The company is expected to show growth of 21% in the third quarter after sales increased 11% in the prior period. Meta appears to be the furthest along in terms of improving the effectiveness of its online ad platform following Apple's changes. Meta, X and others must adhere to the DSA by removing illegal content and detailing how they're doing it.

Persons: Mark Zuckerberg, that's, Susan Li, Snap Organizations: Meta, U.S, Senate, Intelligence, Capitol, Washington , D.C, StreetAccount, EU, Digital Services, European Commission, Russia, Reality Labs Locations: Washington ,, U.S, Israel, Ukraine

The $3.5 billion range ($36.5 billion to $40 billion) compares to a $2.5 billion range the company typically offers in its quarterly revenue forecast. Susan Li, Meta's finance chief, told analysts on the earnings call that the reason for the change is the unpredictability in the Middle East due to the Israel-Hamas war. At the mid-point of its guidance range, Meta would be expecting revenue of $38.25 billion, compared to the average analyst estimate of $38.85 billion, according to LSEG, formerly known as Refinitiv. For the third quarter, Meta beat on the top and bottom lines, boosting its shares in extended trading on Wednesday. Meta's commentary surrounding the Middle East conflict, which escalated this month after Hamas attacked Israel, follows cautionary statements from Snap on Tuesday.

Persons: Susan Li, Li, Meta, Joe Biden Organizations: Meta, White Locations: Israel, Ukraine, Russia, Gaza

☆ Meta's unique approach to developing AI puzzles Wall Street, but techies love it
▼ + stars: | 2023-10-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +18 min

If the world's leading AI researchers use Llama, Meta could have an easier time hiring skilled technologists who understand the company's approach to development. Spisak helped oversee PyTorch and other open source AI projects when he worked at Meta from 2018 until January 2023. Although a number of open source LLMs are available, Lambert said Llama 2 is by far the most popular. "Facebook was not and that's sort of how they move forward and democratizing this, giving sort of broad access to open source. However, open source doesn't always win, and Padval acknowledged that "in this case, I don't know how it's going to evolve."

Persons: Mark Zuckerberg, Josh Edelson, Mark Zuckerberg's multibillion, Joseph Spisak, that's, Zuckerberg, Meta, Andrew Bosworth, Yann LeCun, isn't, Susan Li, Spisak, Cai GoGwilt, GoGwilt, OpenAI's, Ahmad Al, Dahle, he's, Jim Fan, Arjun Bansal, Jensen Huang, Nathan Lambert, Lambert, Critics, Umesh Padval, " Lambert, Nvidia's, Fan, Meta's, Taka Ariga, Ariga, Claude, Elon Musk, Tesla, Nur Hamdan, OpenAI's GPT, Sam Altman, Guido Appenzeller, Thomvest's Padval, Padval Organizations: Meta, AFP, Getty, Microsoft, Industry, Linux, Microsoft Windows, Facebook, Twitter, Finance, Google, AI Research, FAIR, Apple, Nvidia, Web Services, Thomvest Ventures, TC Cowen, United, United Arab Emirates, U.S, Government, AWS, Bloomberg, Amazon, VMware, Intel, Red Hat Locations: Menlo Park , California, Taiwan, United Arab, Washington, Elon, Hamadan, Seoul, South Korea

☆ Insider Today: Amazon's secret search plan
▼ + stars: | 2023-10-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementAdvertisementThe retail giant is overhauling its search bar with ChatGPT-like features that'll act as a sort of concierge for customers, offering expert answers and product suggestions. Dubbed Project Nile, Amazon's top leaders, including CEO Andy Jassy, view the new search bar as a top priority. AdvertisementAdvertisementHowever, Amazon's overhauled search bar will arguably be the most impactful implementation of generative AI from Big Tech for US consumers thus far. insider intelligenceIn reading Eugene's piece, three follow-up questions immediately came to mind:How will Amazon sellers try and game the new search bar? However, Joseph Sirosh serves as VP of Amazon Search and Alexa Shopping, suggesting Alexa could get a much-needed boost from the new search bar.

Persons: —, Mike Blake, Alyssa Powell, Amazon's, Andy Jassy, Eugene Kim, Joseph Sirosh, Alexa, TikTok, Ben Sun, Anu Duggal, Susan Lyne, Josh Wolfe, Matt Harris, Jillian Williams, Melissa Kwan, Sergey Brin, Brin, Hugo Herrera, Sam Bankman, Fried, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Reuters, Nile, Microsoft, Big Tech, Alexa, Amazon Search, Getty, Wall Street, BBG Ventures, Lux Capital, Apple, Bain Capital Ventures, Cowboy Ventures, Prosecutors, BET, MLB, American League and National League, Houston Astros Locations: Atlanta, Sonoma , California, New York City, San Diego, London, New York

☆ Oracle buddies up with Microsoft. Plus our take on Salesforce and Meta news
▼ + stars: | 2023-09-15 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

A new partnership between Microsoft (MSFT) and Oracle (ORCL) has the potential to benefit both Club holdings in the competitive cloud-computing landscape. Oracle, a database pioneer with more than 40 years of history operating in the market, had existing offerings geared toward Azure customers . Wall Street analysts were generally upbeat on the implications for Microsoft and Oracle, which joined the Club's portfolio a month ago. Analysts at Bernstein downplayed concerns that the deeper partnership with Microsoft will hurt Oracle's fast-growing cloud-computing service, known as Oracle Cloud Infrastructure. "This partnership also lowers the potential risk of Microsoft trying to target Oracle database customers to move off Oracle.

Persons: —, Satya Nadella, Larry Ellison, Bernstein, prem workloads, Ellison, Oracle's, Salesforce, Brian Millham, Marc Benioff, Will Cathcart, there's, Mark Zuckerberg, Jim Cramer, WhatsApp, Susan Li, Jim Cramer's, Jim, Justin Sullivan Organizations: Microsoft, Oracle, Oracle Autonomous Database, Wall Street, Barclays, Deutsche Bank, Web Services, Oracle Cloud Infrastructure, Companies, Bloomberg, Financial Times, Meta Platforms, Meta, Facebook, CNBC Locations: Salesforce, San Francisco, Redwood Shores , California

☆ The digital ad market is showing signs of stabilization. How the pros are playing it
▼ + stars: | 2023-08-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

The signs of stabilization are perhaps most evident through recent better-than-feared earnings from behemoths like Alphabet and Meta Platforms as they focus on cost cuts and efficiency after 2022's rout. Meta Platforms said ad revenue rose about 12% last quarter from the prior year. Buying the '800-pound gorilla' It's hard to ignore Alphabet or Meta Platforms when investing in the advertising industry. On the digital side, Hanna Howard, a research analyst at GAMCO Investors, opts for Meta Platforms. Amazon posted a 22% increase in online advertising revenue year over year, and $10.68 billion in sales overall.

Persons: Susan Li, Rohit Kulkarni, Gene Munster, Paul Meeks, Meeks, Morningstar's Ali Mogharabi, Hanna Howard Organizations: Apple, Google, Roth Capital Partners, Street, Meta, Intelligence, Amazon, Independent Solutions Wealth Management, GAMCO Investors, Munster, Web Services

Just as important will be persuading people like Mr. Marohn that electric cars, renewable energy and electric heaters and stoves are practical, economical and exciting. Many, conservatives in particular, chafe at the prospect of the government forcing them to buy electric cars or ditch their natural gas appliances, polls show. By The New York TimesA clean energy future will require painstaking and individually tailored persuasion campaigns. “Even if some of them deny the science of climate change, they can’t deny good-paying jobs,” he said. “I just want to change the perception that electric cars are not as good as big, noisy muscle cars,” Mr. Lawson said.

Persons: Mikey Marohn, “, ”, Marohn, Alicia Cox, Cox, , chafe, Jesus, Ms, ” “, Jae Landreth, “ That’s, “ Nobody’s, Mr, Landreth, Phil Collins, Rob Leach, Leach, ‘, “ I’ve, Jack Conness, Biden, Jennifer Granholm, Granholm, Vladimir V, Putin, Sue Burns, Burns, Marjorie Taylor Greene, William Turner, didn’t “, Jason Walsh, Walsh, Tia Williams, Ms . Granholm, ” Ms, Williams, Joe Wilson, ” “ Didn’t, Roy Cooper of, Cooper, Patrick Lawson, Ford, Lawson, Lawson’s, Susan Lawson, Cheryl, Tesla, They’re, Kent Wheeler, “ It’s, ’, Josh Hermes, Paul Rosenzweig, Rosenzweig, Mary T, Barra, ” Kenneth Boswell, Quinton Lucas, Lucas, ” Mr Organizations: Clean, Biden, General Motors, nonbelievers, Republican, Pew, The New York Times, Pew Research Center, Toyota, Clean Energy Manufacturing, Energy Innovation, Trump, Trump Biden, Savings, Yale, Pontiac, BlueGreen Alliance, Democratic, Georgia Institute of Technology, Mr, Republicans, Flex, Gov, Northern Arapaho Tribe, Tesla, Rocky Mountain Rebels, Elks, Wild West EV, Polaris, Northern Arapaho, Chevy Silverado, Mercedes, Benz, Alabama Department of Economic and Community Affairs, Kansas City, Fire Department Locations: Teton, Wyoming, Yellowstone, Baldwin City, Kan, Kansas City, G.O.P, Counties, Russia, Memphis, South Carolina, Georgia, Tennessee, Murfreesboro, Tenn, Dalton, Ga, Roy Cooper of North Carolina, Riverton, Jackson, Minnesota, Louisiana, Alabama, Missouri, Quinton Lucas , Kansas, Kansas

☆ More Baby Boomers are living alone. One reason why: ‘gray divorce’
▼ + stars: | 2023-08-05 | by ( Catherine E. Shoichet | ) edition.cnn.com time to read: +12 min

It’s been about a decade since Brown’s research popularized the term “gray divorce” to describe this phenomenon – something that used to be a rarity, but now has become much more common. They dubbed it “the gray divorce revolution.”And it’s still going strong, both for celebrities and everyday people. Rather than “gray divorce,” Myres says she prefers the term “silver splitters,” because it also alludes to the silver lining of starting fresh, no matter how old you are. Financial difficulties after “gray divorce” are a problem Brown says she and other researchers have been studying, too. In the first couple of years after a “gray divorce,” Brown says, about 50% of people end up living alone.

Persons: Edith Heyck didn’t, “, I’d, ”, She’s, Susan L, Brown, It’s, ” Brown, Tipper Gore, Melinda French Gates, Lin, Melinda Gates, Justin Trudeau, Susan Myres, she’s, ‘, ’ ” Myres, “ I’ve, they’ve, Myres, ” Myres, Heyck, Edith Heyck, Edith Heyck “, ‘ Gray, ’, izusek, Bella DePaulo, …, what’s, “ Who’s, Markus Schafer, it’s, ” Schafer, Kim Kyung, Jennifer Molinsky, There’s, ” Molinsky, Edith Heyck Heyck Organizations: CNN, National Center for Family, Bowling Green State University, Al, United States, Canadian, Social Security, Baylor University, Reuters, Aging Society, Harvard University’s, for Housing Locations: Newburyport , Massachusetts, United States, United, Houston, Santa Barbara , California, Japan, Tokyo

☆ Meta CFO on Q2: We are seeing a year of 'efficiency work pay up for us'
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta CFO on Q2: We are seeing a year of 'efficiency work pay up for us'Meta CFO Susan Li joins 'Squawk on the Street' to discuss the upside surprise in Meta's Q2 earnings results, Li's vantage point on the advertising market, and more.

Persons: Susan Li

☆ Reels, ads and cost cutting propel Meta's stock to 17-month high. How the pros are playing it
▼ + stars: | 2023-07-27 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on Meta . Late Wednesday , Meta reported second-quarter earnings of $2.98 per share versus $2.91 per share expected by analysts, per Refinitiv. The company's $32 billion in revenue was nearly a billion more than estimates. The stock hit a new 52-week high Thursday, trading at levels not seen since February 2022. Wells Fargo also upgraded the stock to overweight from equal weight.

Persons: Jim Cramer, Meta, Susan Li, Wells Fargo Organizations: Meta, Facebook, Meta's, CNBC

July 27 (Reuters) - Reels, Meta Platforms' (META.O) answer to viral short-form video app TikTok, elicited eyerolls when it launched in 2020 and was regarded as yet another example of Meta copying a popular rival. The number of Reels video plays on Facebook and Instagram now top 200 billion per day, up from 140 billion last fall. One reason for Reels' growth is that Meta's ad platform makes it seamless for advertisers to place their promotions on the feature, said Debra Aho Williamson, a principal analyst at Insider Intelligence. More than three-quarters of Meta's advertisers are placing ads on Reels, said Susan Li, Meta's chief financial officer. TikTok and its famous content recommendation algorithm remains the leader when it comes to time spent on social media apps.

Persons: Meta, Justin Osofsky, Instagram, TikTok, Osofsky, Mark Zuckerberg, Debra Aho Williamson, Susan Li, Zuckerberg, Meta's, Li, Sheila Dang, Katie Paul, Peter Henderson, Jamie Freed Organizations: Facebook, Meta, Intelligence, Insider Intelligence, Thomson Locations: Austin, New York

☆ New research on Facebook shows the algorithm isn't entirely to blame for political polarization
▼ + stars: | 2023-07-27 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +6 min

For all the blame Facebook has received for fostering extreme political polarization on its ubiquitous apps, new research suggests that the problem may not strictly be a function of the algorithm. Doing so during the three-month period, "did not significantly alter levels of issue polarization, affective polarization, political knowledge, or other key attitudes," the authors wrote. When altering the kind of content these Facebook users were receiving to presumably make it more diverse, they found that the change didn't alter users' views. "However, the data clearly indicate that Facebook users are much more likely to see content from like-minded sources than they are to see content from cross-cutting sources." The polarization problem exists on Facebook, the researchers all agree, but the question is whether the algorithm is intensifying the matter.

Persons: Meta, Holden Thorp, Science's, Thorp, Nick Clegg, Clegg, Stephan Lewandowsky, Lewandowsky, Susan Li Organizations: Facebook, Nature, Princeton University, Dartmouth College, University of Texas, Meta, University of Bristol Locations: U.S

☆ Watch CNBC's full interview with Meta CFO Susan Li
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Meta CFO Susan LiMeta CFO Susan Li joins 'Squawk on the Street' to discuss the upside surprise in Meta's Q2 earnings results, Li's vantage point on the advertising market, and more.

Persons: Susan Li

☆ Facebook's ad rebound gives Meta CEO Mark Zuckerberg freedom to pursue far-out bets
▼ + stars: | 2023-07-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

While Snap's revenue dropped 4% in the second quarter, Meta is solidly growing again, driven by Facebook's ad business. Neither Zuckerberg nor Spiegel have plans to cut back on spending money on experimental projects. Meta is burning billions of dollars a quarter on the futuristic metaverse , and Snap is pouring cash into augmented reality products and services. Meta CEO Mark Zuckerberg is once again a fan favorite on Wall Street. And while Meta has seemingly fixed most of its ad problems, Snap is still struggling.

Persons: Mark Zuckerberg, Zuckerberg, Spiegel, Evan Spiegel, Susan Li, Li, —, Snap's, Meta, James Cordwell, Cordwell Organizations: Meta, Labs, Apple, Google, Facebook, Atlantic Locations: San Jose , California, U.S, Ukraine

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