Tech Earnings Begin: Recaps, Ads, & AI 7/26/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 26 July 2023

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s a big tech earnings week; Microsoft, Alphabet, and Snap, have reported quarterly financials that beat estimates but elicited mixed reactions among investors. CNBC’s Steve Kovach recaps the results so far, and he weighs in on Amazon’s latest run-in with global regulators. Snap’s stock plunged after reporting its Q2 results; the company issued a weaker-than-expected forecast for next quarter, and investors are disappointed. CNBC contributor and Big Technology founder Alex Kantrowitz explains Snap’s ad strategy, what it means–or doesn’t–for the rest of the social media players, and how X fits into tech’s advertising landscape. Plus, consumers are smiling back at Goldfish, and Gap is smiling at its newest exec: the Mattel man who revived Barbie. In this episode: Alex Kantrowitz, @Kantrowitz Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squack Pod and I'm the
0:07.0	C. M.C. producer Cameron Costa.
0:09.0	Today's episode is all about tech.
0:12.0	Big Tech's big quarterly report is all about tech.
0:12.6	Big Tech's big quarterly reports.
0:15.4	Microsoft, disappointing investors, and
0:18.0	alphabets making some changes.
0:19.9	It's
0:23.7	Steve Kovac.
0:24.7	So under Pritchei on the call really talking last night about how
0:28.4	barred their chatbot is going to kind of superpower search.
0:31.6	Because look, this is still a search company this is
0:33.7	still an ad company and Amazon hasn't reported yet but it's still making headlines
0:39.3	with regulators what constitutes antitrust and who gets hurt not necessarily
0:44.1	the customer getting hurt but it's also these merchants who live on Amazon.
0:49.0	Plus SNAP lunges on a weak outlook how ads and AI add up for social media with founder of big technology, Alex Kantruitz.
0:58.0	If Spiegel has something up his sleeve, he should roll it out now because the market will continue to punish that
1:03.2	stock until he does. It's Wednesday July 26th, 2023. That's the only
1:08.9	appetizer you really need. We love them. And Squack Pod begins right now. Stand Becky by in three, two, one,
1:17.0	queue please.
1:19.0	Good morning everybody. Welcome to Squack Box here on ZMBC.
	...

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