Those losses right after the numbers came out. And one of the reasons facebook shares may have traded lower is because the stock had run up so much in anticipation of strong earnings in a quarter where the company beat pretty much across the board. Revenue, earnings and user numbers all better than expected. Cfo david wayner who we spoke to right after those numbers were out telling us that video as well as growing engagement particularly on mobile devices are factors driving results. We have nearly 1. 5 billion users on facebook. Thats nearly half the worlds online population. And thats growing very nicely. We added 173 Million People to facebook year over year. Thats our strongest growth in nearly two years. And those people are coming back. Weve got 65 of our monthly users coming back every day. On the Earnings Call were going to be looking for more insight into the success of those video ads as well as the role of instagram ads. And were going to be looking also for some details on
The trillion dollar Tech Industry gathers in las vegas In Search Of The gadgets that will get it growing again. Plus polarising opinion we find out whats behind the scramble for lithium and whether the boom is heading for bust. Welcome to World Business report. Im Sally Bundock also in the Programme Alibaba cracks down on counterfeiters. Details in a moment. But first. We start in las vegas where thousands of Technology Executives are gathering for the annual Consumer Electronics show which opens today. Its the most important event of the year for the Tech Industry a chance for companies to show off the gadgets we will, they hope, soon be buying. Its a huge business and also an increasingly tough one. According to the Consumer Technology association which organises the las vegas show we will buy Gadgets Worth close to a trillion dollars this year. The problem is the industry as a whole is not growing. If its accurate that figure would be down around 2 on 2016. And it would be the the f
30 minutes into the trading day, lets head to julie hyman with the latest. Julie stocks extending yesterdays gains. People still that jesting what janet yellen had to say yesterday, confirming the idea that the fed is not going to raise rates in june on the heels of fridays jobs report. It is a commodity led rally, at least energy led rally. The nasdaq is just eking out again. S pe have been noting, the is 1 away from a record close, which is about 2130. It is 2134 on intraday basis. The dow rising by 62 and a half points. Energy is once again in the top spot. Industrials also doing well. Health care is the biggest drag on a lot of different corporate stories. We will get to one of those in just the second, but i didnt want to note that apple is rallying for the second straight day. We talked about making a strong month for apple and its recovery helping the averages overall. It is the largest weighted stock. Isr the two day, it helping stocks going higher. Biogen coming out and saying
Payments to Government Contractors as the slump in oil prices pushes the country into a deficit for the First Time Since 2009. Francine that is according to three people with knowledge of the matter. They say the Infrastructure Projects have been waiting six months for payment as the government seeks to preserve cash. Manus lets get straight to the middle east and bring in our finance reporter, matthew martin. Good day. Let us through what these measures are run us through what these measures are. They say they are delaying paying contractors give us in context. It is important to remember that saudi arabia going into this period of time with very low debt and huge reserves, but as it comes to the realization that the oil price leave staying at this sort of thel for the mediumterm, government is starting to take some measures to try and reduce the spending levels as it starts to work out what sort of Government Spending, what sort of budget it can sustain Going Forward into the future.
Ago that the s p to hit 2000 and nailed it within four days of his call. For those of you who think Technical Analysis is voodoo, perhaps listening to what he has to say. Shortly. Will twitch be the espn of video games . The leader of the platform is here exclusively. Talking to emmett shear that they can make it a speck taylor sport. Its fascinating. Youre being to lipolite. Im sheer you. Iphone, it is going on sale a week from today, dont expect to get it a week from today. If youre preordering, the wait is now up to a month. Apple said they hit a record with preorders so is well talk about that and whether or not bigger is better. Now suddenly, for years, getting smaller and smaller and smaller and going the other direction and this is bigger iphone than in the past s. This a good thing necessarily . Well talk about that. Speaking of bigger twitch is a terrific service. I dont see watching gamers play video games. Oh, well then. Im intrigued by the platform. Its regenerating. Buying