Show Notes
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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu
- Mandeep Singh, Global Head of Tech Research for Bloomberg Intelligence, discusses Meta earnings. Meta Platforms Inc. shares fell after Chief Executive Officer Mark Zuckerberg told investors the company would bet even more aggressively on artificial intelligence. The company boosted its capital spending plans for the year and announced a new class of nonvoting stock that could be used to help pay for acquisitions and other expenses.
-David Welch, Bloomberg Detroit Bureau Chief, discusses Tesla earnings. Tesla Inc. pulled back its spending plans after investment last quarter trailed expectations, with capital expenditures to be around $20 billion this year. The company had been consistently short of the pace needed to hit its spending goal, particularly after a $4.73 billion outlay in the third quarter, with analysts having expected $7.95 billion on average.
-Liam Denning, Bloomberg Opinion Columnist, discusses the column: “SpaceX-Tesla Is a Strange, But Certain, Deal.” Elon Musk confirmed that SpaceX and Tesla have formed special committees to examine a potential merger, with Musk noting his personal preference for a deal. SpaceX's quarterly results eclipsed Tesla's, with SpaceX reporting its first quarterly positive net income of $4.4 billion, compared to Tesla's results.
-Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, recaps Comcast earnings. Comcast lost 144,000 residential broadband customers in the third quarter, more than the 133,000 losses predicted by Wall Street. The company's media operations at NBCUniversal are performing well, with Peacock reporting a 17% increase in paid subscribers and Universal seeing its highest grossing film of all time. See omnystudio.com/listener for privacy information.
More from Bloomberg Intelligence
Meta Platforms boosted its capital spending outlook and announced plans for a new class of nonvoting stock, escalating its already-stratospheric bet on artificial intelligence. Capital expenditures will be $135 billion to $145 billion in 2026, the social-media giant said during its quarterly earnings report Wednesday, raising the bottom end of the range from $130 billion. The moves show that Meta has confidence that its spending on artificial intelligence will bear fruit. Chief Executive Officer Mark Zuckerberg has struggled to persuade investors to accept the company’s ballooning expenses for ambitious AI bets. But in recent months, Meta has made headway with its technology. Meta shares rose in after-hours trading on Wednesday. They had gained about 6% this year through the close in New York. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with Ed Ludlow, Bloomberg Tech co-host. See omnystudio.com/listener for privacy information.
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SpaceX exceeded estimates for quarterly revenue and profit, driven by substantial growth in its artificial intelligence and satellite internet businesses. Elon Musk’s satellite, rocket and AI conglomerate posted $4.4 billion in net income for the quarter ended in September, far better than analysts’ average projection of $1.88 billion. Revenue increased 161% from a year ago and also beat expectations. SpaceX shares rose in New York after the close of regular trading. For instant reaction and analysis, Bloomberg Businessweek Daily guest hosts Norah Mulinda and Alexis Christoforous speak with: Ed Ludlow, Bloomberg Tech co-host George Ferguson, Bloomberg Intelligence Global Head of Aerospace, Defense & Airline Analysis See omnystudio.com/listener for privacy information.
Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.
Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.