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  • Microsoft’s revenue +18% to $62.0B in FY24 Q2, as net income +33% to $21.9B

Microsoft’s revenue +18% to $62.0B in FY24 Q2, as net income +33% to $21.9B

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Top stories today:

  1. Microsoft’s revenue +18% YoY to $62.0B in FY24 Q2
  2. Alphabet’s revenue +3% to $69.8B in Q4
  3. Vision Pro reviews mixed, highlighting this is Apple's 1st attempt
  4. Novo Nordisk’s revenue +31% to $33.7B in 2023
  5. Elon Musk's stock option package struck down by DE judge

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. Microsoft’s revenue +18% YoY to $62.0B in FY24 Q2, as net income +33% to $21.9B

Azure continues to lead growth, at +30% YoY, fueled by AI services, as the Xbox division was +61% due to the Activision acquisition

  • Microsoft stock 0% after hours.

2. Alphabet’s revenue +13% to $86.3B in Q4

3. Vision Pro reviews generally mixed, highlighting this is just Apple’s 1st version

  • Pros:

    • Best AR headset available in terms of video passthrough, quality, and hand/eye tracking.

    • 1M iPad apps that work out of the box.

  • Cons:

    • Not many use cases other than entertainment and providing a large screen.

    • Price ($3,499).

    • Blurry passthrough.

    • Lonelyness feeling, as experiences cannot be shared.

  • Read more: The Verge, WSJ, Justine.

Our view: the Vision Pro is more premature than the 2007 iPhone, but give Apple a few years and they will do magic

  • Reminder: there was no App Store on the original iPhone (launched in 2007) — nor there was copy and paste.

*Sponsored.

5. Novo Nordisk’s revenue +31% to $33.7B in 2023, as Ozempic +60%, Wegovy +407%

6. Elon Musk's 2018 20.3M stock option package struck down by Delaware judge

  • “Unfathomable sum” and unfair, the judge called it.

  • 12 tranches of stock options, with corresponding milestones.

  • ~$55B value, given Elon achieved all the milestones.

Elon told his followers never to incorporate in Delaware and suggested Tesla will incorporate in Texas

  • X was incorporated in Nevada, likely to avoid these judicial interferences in shareholder actions.

7. Robotaxis expected in 2028 by U.S. carmakers, 2029 for Chinese ones

The U.S. remains ahead, but China is narrowing the technological gap:

8. ChatGPT users can now use GPTs by writing @ in chat

Read more: Techcrunch.

9. 29% of hacked companies paid ransom in Q4, continuing long-term decline

10. Interesting videos, posts, and memes

11. Other headlines

AI

  • Figure AI, humanoid robots, in talks to raise $500M from Microsoft, OpenAI.

  • Codeium, coding AI copilot, raises $65M at $500M valuation.

  • ByteDance CEO tells staff company was late to generative AI.

  • Kore.ai, startup building conversational AI for enterprise, raises $150M.

Tech earnings

  • Samsung’s revenue -4% YoY to $51B in Q4, operating profits -35% to $2.1B.

  • AMD’s revenue +10% to $6.2B, operating income at $0.3B.

  • EA’s net bookings +1% to $2.37B, operating cash flow +13% to $1.26B.

  • Match’s revenue +10% to $0.87B, even as payers -5% to 15.2M.

  • GM Cruise to cut spending by $1B in 2024.

Tech

  • TikTok to open several locations for creators to live stream shopping content.

  • Meta shelves app-like ‘augment’ feature for AR.

  • Adobe won’t invest in its Figma competitor XD after deal collapsed.

  • Temu launches $3B ad campaign in U.S.

  • Enhanced Olympics raise seed round from Peter Thiel, Balaji.

  • iPhone 16 won’t have “significant design changes”: top analyst.

  • PayPal announces another ~2.5K (9%) of job cuts.

*Sponsored.

Tech & law

  • Apple failed to comply with court order to open App Store, Epic tells judge.

Biotech

  • Novartis’s revenue +10% YoY to $11.4B.

  • GSK's revenue +10% to $10.2B in Q4, led by shingles, RSV vaccines.

  • Fasting linked to protection against Alzheimer's, Parkinson's.

  • Milan to host Italy's 1st longevity conference.

Business

  • Fed expected to keep rates at 5.25% - 5.50%.

  • Byron Allen makes $14B offer for Paramount, after Ellison’s offer.

  • China stocks fall to 5-year low after weak manufacturing data.

  • Masterworks: invest in world-class art, not stocks and bonds.*

*Sponsored.

Crypto

U.S. politics

World

  • Iran-backed militia says it will suspend attacks on U.S. forces in Iraq, Syria.

  • 6-week ceasefire, prisoner swap being discussed by Israel, Hamas.

  • UNRWA funding blocked by U.S. only sums $300K (<1%).

  • Pakistan opposition leader Khan sentenced to 14 more years.

  • Hong Kong announces long-shelved security law, "they will love it.”

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