How the tech giants stack up in earnings season
Welcome to Tuesdata, our weekly analysis for Unmade’s paying members.
Below, we examine the key themes emerging from the tech giants from their quarterly earnings reports. Featured below is data from Facebook’s parent company Meta; Snapchat’s parent company Snap; Google’s parent company Alphabet and Microsoft. We also examine the UK’s biggest commercial TV player ITV.
Further down, a slump on The Unmade Index.
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‘The year of efficiency’ transforms the platforms
Seja Al Zaidi writes:
The earnings are in and one theme is common across the media platforms and companies that have reported so far - headcount is being thinned to make way for investment in AI, and a languishing advertising market is fuelling this trend.
Meta CEO Mark Zuckerberg shared a lengthy investor update last week in which he returned to his new catchprase - the ‘Year of Efficiency’.
The term is used by Zuckerberg to describe two different goals: ‘becoming an even stronger technology company’, and ‘improving our financial results so we can invest aggressively in our ambitious long term roadmap’.