Google finally released new financial information about YouTube and Google Cloud, but it is still not sufficient. Then, Google’s margins are falling just like Facebook’s: is the engine finally sputtering?
Apple’s surging iPhone sales and slowing services growth suggest that lots of iPhone customers are upgrading. It’s a testament to how strong Apple’s position is that revenue it misses now it catches later.
Netflix’s earnings were mostly more of the same, but management’s comments helped explain an interesting connection between cash flow and margin, and showed how Netflix has evolved again.
Making principled stands should not mean absolutism: Facebook should seek to ameliorate its trade-offs. Then, Facebook’s earnings continue to show higher costs, plus where Zuckerberg is right and wrong in defending the Instagram acquisition.
Apple had another quarter where the iPhone didn’t dominate, plus more evidence that the company is thinking like a Services company.
Amazon’s earnings are encouraging because profits are down. Still, there is reason for concern around AWS. Then, Google’s top-line continues to impress, but the company continues to waste huge amounts of money, hurting the bottom line.
Microsoft won the JEDI contract with the Department of Defense under questionable circumstances, which shouldn’t disguise the fact that Microsoft had a compelling case. Then, Microsoft’s earnings are impressive but too vague.
The real antitrust concern is with potential constraints on ambient computing. Then, Google has its own Services Narrative, and Netflix’s earnings should be viewed with concern.
Slack’s earnings were fine, but lacked the explosive growth their valuation needed. Understanding Slack’s past and future product-market fit explains why. Then, the real problem with the FTC’s fine of YouTube is a lack of transparency.
Disney’s bundle is compelling both for Disney and also Hulu, then Huawei’s new OS doesn’t make sense commercially but does make sense geopolitically. Plus, Uber’s earnings have been unfairly represented even as they are very concerning.