A Trio of Companies Offer Insight on Q2 Results: Twilio CEO Jeff Lawson, Doximity CEO Jeff Tangney & GoDaddy CEO Aman Bhutani 8/5/22

TechCheck

CNBC

Technology, Business, Cnbc, Faang, Investing, Disruptors, Management, Tech

4.5 • 66 Ratings

🗓️ 5 August 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show breaking down the Bureau of Labor Statistics’ jobs data for July with CNBC’s Mike Santoli, and CNBC’s Kate Rooney breaks down the latest earnings from fintech company Block. Next, Wall Street Journal Senior Personal Technology Columnist Joanna Stern discusses Amazon buying Roomba maker iRobot for $1.7 billion, and Twilio CEO Jeff Lawson offers his insight on the enterprise software firm’s second quarter. Then, our Julia Boorstin reports on Q2 numbers out of several streamers, and Doximity CEO Jeff Tangney joins after the health tech provider slashed its full-year guidance. Later, GoDaddy CEO Aman Bhutani covers the internet services platform’s recent results, and our Julia Boorstin returns with the latest in the Elon Musk-Twitter saga. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Julia Borsden, and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern, listen in.
0:11.5	At Friday, welcome to Tech Check. I'm John Fort. We call Keith and Enya. Big earnings movers to hit this hour.
0:17.8	Lift and DoorDash soar while Warner Brothers Discovery plummets.
0:21.6	Plus the CEOs of Twilio, Doximity, and GoDaddy as we sift through those important results
0:27.6	this hour, Carl.
0:29.6	John, let's start the feed with the jobs number from this morning.
0:32.6	Far better than expected, as you may know by now.
0:35.6	528,000.
0:36.6	Best gain since February. Unemployment falls to
0:40.2	three and a half. Pretty much the lowest since February of 2020. Wage growth higher, up more than
0:45.4	five year on year. All the data silencing some fears of a recession, at least for now, and leaving
0:50.8	investors bracing for more rate hikes ahead, given such hot growth. Here to help us break it down as our senior markets commentator, Mike Santoli. Although equities have reversed early losses, and it was interesting to hear Jan Hotsias of Goldman stick with 50 for September. Yeah, that's still a debate. Obviously, the market is, you know, trying a gambit that 75 looks more likely, but it's a long way from now
1:11.3	until the Fed meeting in the third week of September. Interesting that the last couple of weeks,
1:16.8	you've really not gotten a lot of fresh data that said recession is more likely than we thought.
1:22.5	So even though I think there was a common sense out there that the rally we've seen in the equity market has
1:28.3	mostly been about this idea that the Fed was going to, you know, come off the tightening
1:32.3	campaign and get easier. I think it's been that in combination with the idea that maybe soft landing
1:37.0	is a little bit less of a long shot than we thought before. So all that stuff mixed together
1:42.3	means that today's number has been mostly
1:44.3	an occasion for a rotation within the market. You've seen some of the big disinflation plays
1:50.1	and growth come off and then we have energy up and we have banks finally coming awake. So right now
1:56.1	a pretty palatable reaction, I guess you'd have to say if it holds this way.
	...

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