Breaking Down Netflix’s Latest Earnings, Former Twitter CEO Dick Costolo on Elon Musk’s Legal Battle & Previewing Tesla’s Q2 Results 7/20/22

TechCheck

CNBC

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

4.8 • 56 Ratings

🗓️ 20 July 2022

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show recapping Netflix’s latest earnings with Citi analyst Jason Bazinet, and CNBC’s Mike Santoli breaks down the Nasdaq showing signs of life to start July. Then, Former Twitter CEO Dick Costolo offers his take on the platform’s lawsuit against Elon Musk, and we circle back for more on Netflix with CNBC’s Dom Chu. Next, FullCycle Founder and Managing Partner Ibrahim AlHusseini previews Tesla’s Q2 results after the bell, and CNBC’s Ylan Mui covers the CHIPS Act clearing a key hurdle in the Senate. Later, CNBC’s Eunice Yoon shares new reporting on potential trouble brewing for Chinese tech companies and their workers.

Transcript

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0:00.0	I'm Julia Borstin and you're listening to see NBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern listen in.
0:09.3	Happy Wednesday. Welcome to Tech Check. I'm John Fort with Julia Borstin and Carl Cantonia. Deja Bosa is all. Today,
0:13.0	Welcome to Tech Check. I'm John Fort with Julia Borsen and Carl King Tania.
0:14.0	Diya Jibosa is off.
0:15.0	Today, a broad tech rebound, the NASDAQ up 5% over the last week,
0:20.0	because growth names like Zoom and Data Dogg pop double digits off their lows.
0:24.7	FinTech coin-based and a firm up more than 33% in a month.
0:28.3	So is the worst behind us, we will discuss.
0:31.1	Plus, it is the stock of the morning more on Netflix and
0:34.9	whether it is the end of an era of single-minded spending this hour. And finally,
0:39.0	don't think we forgot about Twitter. Former CEO Dick Costal is going to join us this hour to talk
0:43.8	Musk, the deal and more in its first broadcast interview since the news first broke
0:48.5	back in April, Julia. Well we're going to kick off today's feed with Netflix and a new era for
0:56.1	streamers. Netflix reported better than expected results, the less bad
1:00.0	than anticipated loss of about a million subs in the second quarter and it laid out
1:04.4	where its future will lie which is a focus more on generating revenue and less on
1:09.8	user growth. The two new initiatives that Reed Hastings and 10
1:13.8	Surandos the co-seo is focused on, generating money from the 100 million
1:18.5	people who are watching Netflix but not paying thanks to password sharing and launching a lower cost
1:24.5	ad-supported service early next year. These two things are closely connected. A
1:29.6	lower-cost service will give Netflix a better chance at getting those password borrowing users to start to pay.
1:36.0	And lower costs could prevent users from churning out as soon as they finish
	...

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