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Jan 26, 2024 • 4 min read

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Tesla Earnings:

Tesla's revenue and profit for the fourth quarter did not meet analysts expectations, with the company reporting a 1% increase in auto sales from the same period the previous year. Additionally, the revenue for the quarter was reported at $25.17 billion, falling short of the expected $25.6 billion.
The company's total revenue saw a 3% increase from the previous year, rising from $24.3 billion to $25.17 billion. Tesla's operating margin decreased significantly to 8.2%, down from 16% in the same quarter last year and only a marginal improvement from 7.6% in the prior quarter. In contrast to other U.S. automakers who struggled with the production and sale of fully electric vehicles, Tesla reported a record number of deliveries.
In the fourth quarter alone, Tesla delivered 484,507 vehicles, and for the full year of 2023, the company exceeded 1.8 million deliveries. These record figures were achieved, in part, thanks to substantial price reductions on Tesla's vehicles, enabling the company to sustain high sales volumes in a challenging market.

Microsoft Layoffs:

Microsoft is set to reduce its workforce by 1,900 positions, impacting its video-game sectors, including the recently acquired Activision Blizzard, which Microsoft purchased for $69 billion. This move is part of the company's restructuring efforts following the acquisition that was completed late last year. Phil Spencer, Microsoft's gaming chief, communicated to employees that the layoffs constitute approximately eight percent of the 22,000 staff within Microsoft's gaming division.
Amid these layoffs, Blizzard Entertainment is undergoing substantial changes, including the cancellation of a project known as Odyssey and leadership alterations. Mike Ybarra, the President of Blizzard, and Allen Adham, Chief Design Officer and co-founder, are departing from the company. Microsoft's market valuation recently surpassed $3 trillion increasing its status as the world's most valuable company.
The battle for the top market capitalization spot on Wall Street has been close, with Microsoft and Apple jockeying for the lead since the beginning of the year. Meanwhile, Microsoft's investment in OpenAl, the maker of ChatGPT, positions it as a leader in the field of generative AI. The company has been incorporating this technology into its productivity software and the Bing search engine, aiming to rival Google's search engine.

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