Facebook's Record Profit
This is tech news briefing im Tanya boost reporting from the newsroom in New York and Facebook pulled off a record profit in the fourth quarter, due strong financial results indicate that Facebook is still a powerful platform for reaching consumers. Breaking it all down after these tech headlines. US intelligence officials in their annual worldwide threat assessment say that China and Russia are pouring resources into a race for technological and military superiority that will define the twenty first century, the two countries are more lined than at any point since the mid nineteen fifties. The report also said US adversaries are already likely targeting the twenty twenty presidential election. The threat assessment also warned that the decades long US lead in scientific innovation is shrinking as foreign nations. Seek to acquire talent company's data and intellectual property. An apple engineer allegedly stole intellectual property related to the company's autonomous vehicle program. Jeon on Chen has been charged in San Jose federal court with stealing the trade secrets, and according to the journal apple found more than two thousand files containing confidential material on a personal computer owned by Mr. Chen, apple suspended, the engineer Lear this month and revoked his access to company property if convicted Mr. Chen. Faces a maximum of ten years in prison and two hundred and fifty thousand dollar fine. Amazon is becoming a fixture of Super Bowl ads. The ecommerce giant will be in the big game for the fourth straight year, and it will air two spots both of which were released Wednesday, a ninety second spot features celebrities such as Harrison Ford forced Whitaker and astronauts, Scott and Marquel. Testing new products that are equipped with Amazon's Alexa, the Super Bowl appearance is part of a larger TV advertising blitz by Amazon. It's national TV ad spending in the US soared almost sixty percent last year and has nearly doubled since twenty fifteen. Amazon was also one of the top fifteen national TV spenders last year, shelling out more than companies such as Toyota and McDonald's. The journal Suzanne for nica has more on how Amazon is jumping into mainstream advertising at wsJcom coming up even as it's battling through a string of challenges. Facebook reports a record profit more after this. So record profit for Facebook, it reported per share earnings of two dollars and thirty eight cents in the fourth quarter. Typically, the heaviest spending period for advertisers and beating analysts projections. Facebook's net income rose to six point eight billion dollars revenue rose thirty percent to sixteen point nine one billion that percentage increase marked Facebook's slowest revenue growth, yet still the growth is significant for a company seven years after its IPO. Let's check in with our earnings expert. Joining us now on the line is rob Enderle of the Enderle group patching in from Oregon Hira radically. The big question is how did Facebook pull this off despite the many, you know, we'll call them struggles as of late executing very well in terms of generating ad revenue across the platform, and they pretty much reversed or declines in Europe. And they're looking stronger. So I think for the most part I just showcasing that once people set up. Habit pattern. Our and are on a service like this. It takes an awful lot to pull them off. And since this is an awful lot of the activities occurring. They're still able to attract more people onto the platform despite the negative press, and and a number of initiatives to disconnect from Facebook. In fact, a lot of out there right now as one happy life, get up, Facebook, and as usual, we're not listening to it. So we're still there. Right. I guess it all goes back to the fact that you know, they're still getting adds to people and people are still using Facebook. You know, that atmos- sheen is still strong, despite whatever other problems might be at play. Yeah. Well, you know, when you're up thirty percent during very negative news period that pretty strong pretty strong, Ed business. In fact, we're gonna see Facebook and apple run against each other. Because apple just pretty much cancelled all of their developer apps for breach of policy, which means face because probably going to pop up and say all the office employs can no longer use. Iphones because it's those employs that used those apps, which is going to create an interesting dynamic between the two companies. So so it's gonna be it's gonna make for an interesting year between both both Facebook and apple CEO. Mark Zuckerberg had a lot to say on the call. Let's fast forward to the good stuff. What do you think is the main takeaway if we if there is one in terms of what he has to say on the current state of affairs? I think you take away the fact that he's serious about fixing the problems. I'm just not clear. Most of the probably not clear if he knows what the problems really are. They're certainly putting in place resources to assure that elections are no longer damage by by the service to assure the news is accurate and not fake, and and certainly putting in additional protections against privacy breaches. But once again, it's the real question is is does he really understand the problems? I guess we're gonna find out after 'execution. I still kinda wonder how Facebook is is still able to operate given the via. Version of the consent decree with the US the penalty should exceed even even Facebook's renewed valuation. So it's say this is going to be an interesting time for Facebook pull it they've got another large breach. You know, the US give them the pass the Europe Europe is increasingly anybody a pass. So it's it's going to be it's going to get more painful if they don't get the sex. This is something very much in motion. So we're in the thick of it. That is the latest. That's all we can do rob Enderle. Thank you as always. Why pleasure? That's it for the tech news briefing reporting from the newsroom in New York. I'm Tanya boost does thanks for listening.