The Week in Numbers: Tesla strikes back
STORY: From why a price war is paying off at Tesla, to more job cuts at big tech, this is the Week in Numbers. First up…
$24.32 billion was the forecast-beating revenue at Tesla over the latest quarter.
Boss Elon Musk says aggressive price cuts have ignited demand for the firm’s vehicles.
And he’s betting demand will stay strong even if a recession comes.
3,900 is the number of job cuts at IBM.
And that’s just the latest in a slew of big layoffs.
Only this week, SAP said it would shed 3,000 posts.
And Spotify said it would trim its workforce by 6%.
Up to 3,200 is how many jobs unions say are set to go at Ford plants in Europe.
Labor organizations are threatening to disrupt production across the continent if the cuts go ahead.
Ford wouldn’t comment.
$52.7 billion was the quarterly revenue at Microsoft.
That’s a lot of money, but it was less than analysts expected, as was the forecast for future cloud computing revenue.
CapWealth Chairman Tim Pagliara says investors felt “gut-punched” by the numbers:
“I think it was actually a pretty fair representation of what we will expect going forward. You know, slower growth means that, in the near term, their cash flow is going to change.”
And up to $1 million or more is the penalty for using WhatsApp, if you’re a banker at Morgan Stanley.
Reuters sources say employees got hit with fines for using such private messaging apps.
Morgan Stanley has been in trouble with watchdogs for letting staff do business over unofficial channels.
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