Tech Brew Ride Home Thu. 01/30 - Tesla's Earnings Home Run
Jan 30, 2020
Tesla hits a financial high with record earnings, positioning itself as a leading player in the electric vehicle market. Facebook faces a staggering settlement over facial recognition issues, while Nintendo celebrates the Switch surpassing the SNES in sales. Avast shuts down its Jumpshot subsidiary, citing privacy concerns, and Apple makes strategic hires to enhance its subscription services. Meanwhile, the calendar app Fantastical shifts to a subscription model, promising exciting new features despite user concerns about inefficiency.
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Facebook's Mixed Results
- Facebook had a good 2019 with increased revenue and user growth, but stock prices dropped due to slower profit growth and increased expenses.
- Rising expenses are largely due to privacy and security improvements and hiring to address those concerns.
Microsoft's Cloud Success
- Microsoft's cloud and subscription strategy is paying off with increased revenue and net income.
- Gaming revenue dropped due to slowing Xbox One sales, but the upcoming Xbox Series X and xCloud are expected to improve it.
Samsung's Chip Slump
- Samsung reported weak Q4 earnings due to low memory chip sales.
- Net profit dropped significantly, marking its lowest point since the Galaxy Note 7 recall in 2016.