Meta Beats the Street in Q1, ServiceNow CEO Bill McDermott on Results & Previewing Apple’s Earnings 04/28/22

TechCheck

CNBC

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

4.8 • 56 Ratings

🗓️ 28 April 2022

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Our anchors begin today’s show breaking down Meta’s Q1 earnings beat with Evercore ISI Head of Internet Research Mark Mahaney, and ServiceNow CEO Bill McDermott joins to discuss the software firm’s latest results. Then, CNBC’s Mike Santoli and Verge Editor-in-Chief Nilay Patel circle back to Meta as the stock targets its best day since 2016. Next, our Jon Fortt recaps his exclusive interview earlier this morning with Qualcomm CEO Cristiano Amon on the chipmaker’s digital transformation. Later, CNBC’s Steve Kovach previews Apple’s earnings with the tech giant reporting after the bell.

Transcript

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0:00.0	I'm Julia Borstin and you're listening to see NBC's Tech
0:03.2	Our show is live weekdays at 11 a.m. Eastern listen in
0:07.7	Good Thursday morning. Welcome to Tech check. I'm Carl Keatonia with the
0:10.8	John Ford Deirdrebza and Julia Borston.
0:13.7	Today, Pinterest Bumps, Tele Doc Slumps,
0:16.8	got this overrated metric for Apple
0:18.8	and the CEO of Service Now.
0:20.6	We're going to get to all of that,
0:21.5	but we're going to start with Meta.
0:23.4	Was surging this morning as daily and monthly active users bounced back.
0:27.2	Stock had been cut in half this year prior to those results and Julia is all over today,
0:31.4	J.B. Yeah, it's just really interesting Carl because there were various warning signs here
0:37.6	including the company giving guidance of between 28 and 30 billion revenue in the second
0:42.4	quarter.
0:42.8	Look, guys, it's worth noting that if Meta hits the lower end of that guidance,
0:47.1	its revenue would actually be declining year over year,
0:50.3	which has never happened before.
0:51.8	This quarter's 7% revenue growth was its
0:54.4	slowest revenue growth that we've seen since the company went public, but there is
0:59.3	just so much relief now that they have been able to re-accelerate those daily active
1:04.6	users. So John it seems like investors had really low expectations here.
1:08.9	Well they have low expectations in part because Facebook meadow worked so hard to lower expectations
	...

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