Good morning Austin, and Happy Friday! It’s earning season, so we’re going to see a lot of tech companies reporting on their sales and profit numbers in the next few weeks:
Alphabet shares are down after a miss in its fourth quarter
Google parent company Alphabet reported that its sales surpassed Wall Street expectations for its fourth quarter, but its profit fell short. This sent its shares declining over 5 percent in morning trading.
CNET reports that Google’s “Moon Shot” programs are starting to pay off. The company reported that its “Other Bets” made $260 million in sales in the fourth quarter, compared to $150 million the year before.
Microsoft is doing OK, thanks to its cloud business
The software company reported on Thursday big fiscal gains in its web-based, on-demand computing business, according to the Wall Street Journal.
Revenue for Microsoft’s “Intelligent Cloud” segment rose 8 percent to $6.9 billion. And the company beat both expectations and last year’s performance on revenue and profit.
Tesla sues its former director of its Autopilot program
Automaker Tesla is suing Sterling Anderson, who used to be its director of autopilot programs, for breach of contract, according to TechCrunch.
The lawsuit accuses Anderson of trying to recruit employees from Tesla in order to start his own autonomous driving company. He is also accused of taking proprietary information.
Facebook continues its push toward longer videos
Recode reports that Facebook is going to start rewarding video makers who create longer clips. This is another shift for Facebook, which last year was all about pushing its live streaming service Facebook Live.
Facebook will start crediting video publishers with a “view” only if someone watched for a minimum of three seconds.
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