who's at the helm. but it's like, follow the science and data also in that conversation with dr. gottlieb, how much data is the cdc actually collecting around these breakthrough cases? and just when will we have our hands on that and the understanding around that? it will not likely be until weeks or months from now back to this point. that does it for us here go to "techcheck" now. ♪ good wednesday morning welcome to a huge hour of "techcheck." i'm joe kernen with jon fortt and deirdre bosa today, jaw-dropping earnings result from alphabet, apple and microsoft. in-depth break gouin downs comi

next. and taking a company public and risks for the robinhood ipo with that price tonight. later, more earnings spotify, amd and ceo of linkedin as that division wows from microsoft. de >> record profit, apple, second quarter. services revenue another record. gross margins stronger stock off a little this morning, but, remember, this was up 20% over the last seven weeks. microsoft, another monster quarter here big earnings beat and optimistic outlook for second half. revenue up more than 50%, azure. stock dipped slightly after the bell on worries about maintaining the growth trend, but it is back in the green up about 1% at the moment dig into alphabet first, though. already the best performing bank stock of the year. 's 50% adding another 4.5% right now.

earnings beat revenue updates $62 billion. nearly $6 billion greater than the street's estimate. that represents the largest percentage jump in quarterly sales in about 14 years. ad revenue dropping to 69% another stat from them can't get enough netflix, $7 billion. beyond the broader digital rebound, guys, well anticipated. felt youtube was the story of the quarter, jon, a lot of questions on the analysts call focused on not just what they achieved this year, but the opportunity going forward in places like ecommerce. right? we talked earlier this quarter about that partnership with shopify. how is that going to translate there and make this an even more interesting juggernaut than it already has become >> yeah. we give netflix so much attention, disney plus, et cetera rightly so youtube being ad driven, the

source of use it got during the pandemic and the opportunity they still have to continue to work on various business models. youtube plus hasn't taken the world by storm or anything, but they have such a mass of dedicated users. such engagement and such great data, carl, got to be potential there. >> indeed. as we watch alphabet, looking at morgan stanley's note today, jon. bull case. 3,500. which would be 30% upside overall, though, de, reinforcing structural acceleration and tam expansion especially what travel will hopefully do later this year. >> yep and i know that, carl, talking about this earlier with jim cramer who was saying one risk factor could be the delta variant and how that impacts the reopening, because we have seen the outperforming mega cap this year but trailed last year in midst of the pandemic. i wonder if this streaming

proposition, though, would allow it to fare perhaps better this time around? jon, 120 people now watching youtube on tv every month. we usually leave it out of the streaming conversation, but disney plus has, what? 100 million subscribers? so youtube cannot be underestimated here. >> okay. 120 million there for youtube? >> 120 million people watching on their tvs. >> yeah. i mean, or watching on their t tvs. probably roku in there, too. the cloud important as well. they had 53% growth in cloud compare that, depending on what you're counting, overall revenue growth or what from microsoft. constant currency or not google cloud out-pacing microsoft, as it should, because it's smaller, but even though that's not a profit generator yet, it is strategically important to google's enterprise ambitions, and i think that was an important piece to watch as well.

>> a great point. >> guys, let's dig into apple as well a story of the night last night as well u.p.s. beats by 30%. revenue tops $81 billion 36% sales growth iphone seams better up nearly 50 but apple is warning that growth may slow dune to the supply chain constraints for semis we understand so well stock moved slightly lower earlier. revenue and services in mac and ipad, in wearables, all strong in fact, every one of apple's major product lines grew over 12% on an annual basis citi's apple analyst jim suv virginia joined us this morning talking about the print. always good to have you. good morning. >> hey, great to see you, carl almost, almost, the perfect quarter. it was really good >> that's generally the take, although, jim, you get to numbers of this size, always, i guess, skepticism or just disbelief that coms can possibly get better and seems to be the

pervasive thought among mega cap tech this quarter, in fact how do you get around that >> to be honest, that is a very fair observation and concern. the way you get around it is simply, continuing to put out great products, great experiences and performance of a stellar operations that apple is very much known for. more than just an iphone story now. iphones now represent less than 50% of the company's total sales. recall a year, two, decade ago we were talking about, an iphone story. an iphone story. now a platform story where the company that many things all clicking on this platform and they worked to have a great customer experience. >> given it's a name that has been historically being cyclical because of how iphones are launched, do you think the margin story, the reset on margins for apple is structural? >> i do. i think we are talking about

company-wide margins now in the 40% range instead of the 30% and those who are negative on the stock, always thought the hardware would be pressured, pressured, pressured keep in mind apple moved into hardware. they now produce their own cpu chip called. m1 chip and doing that and more higher value things as you correctly talked about for the services, the software, the wearables and accessories. we think they are permanently into a new margin range, and that is high er and take a few quarters to believe that negative on the stock, simply saw the best of it in june and things are likely to deseller ate from here. pressure after the stock did well we believe the margin story is permanently higher, carl. >> jim, how are we to understand what tim cook and apple said about the supply constraints heading into certainly the september quarter and perhaps

persisting into the holiday quarter? seems to be on more of the legacy stuff, but to what degree are you able to model what that might mean given that with popular launches, apple tends to be constrained anyway, right for the first couple of quarters is this any different? how do you know? >> jon that is a spot-on good question the way we look at it is simply put. if you are supplying to many different customers, you look at those customers and how much economic value or revenues they give to you, and apple typically is one of, if not, the largest customer for these suppliers look at allocating shortages of items, apple's going to get its fair share more frankly put, more than its fair share of product, because not shifting more allocation to a company that may not be around in six months or a year or two apple will benefit from that to answer the second part of your question, how do we monitor and build it in?

keep in mind that apple typically overorders knowing something in the supply chain is going to have a bottleneck could be the screen, the display, the audio, the case the various connectors something is typically a bottleneck so apple over orders for that, heading into the christmas holiday-selling seasons. we do anticipate also that they need to replenish the channel, meaning various retailers as well as the service providers, and so we just see a lot of upside here, but these supply constraints are not only for apple, but all of the world we live in. people talk about automobiles all the tile yes, that's true even beyond automobiles, if you were to update your smart meter at your house, or an industrial item, something like that. these supply constraints are broadly based in every day of life and looks like rest of the calendar year not going to ease. >> yeah. looks like tech companies we

talk about all the time have perhaps a better view of their supply than some of the others like automakers. jim, asking you about the china story as well. a great spot this quarter. apple seeing nearly 60% growth in this market i wonder is there risk there as well especially we've seen beijing crack down on its own tech companies. huawei sales suffer as well. could apple potentially be vulnerable here? >> keep in mind that apple employees a tremendous amount of citizens indirectly in china through supply chain it's not like some of the other big tech where there's a lot of animosity between the governments. we also do note that apple is very much viewed as an esteemed, accomplished, desired product in china. it's not only fashion, but it also shows accomplishment and a sought-after item. simply put, end of the day, the apps work. they work seamlessly when doing a business call or a

school or education or various things like that, you want your apps and your phone to work, and it does with apple that's why it's more expensive. >> and beijing -- hasn't stopped beijing, though from other companies that work very well and employ lots of folks >> you're absolutely correct on that, and keep in mind that apple is a consumer item and not an enterprise item when they start talking about enterprise, keeping up software or big hardware, the purchase is being made by the average consumer, it is a rest keep in mind china represents about less than -- just around 20% of total sales, and they actually grew china significantly, about 50% year over year. when we see up 50%, yes, it's a rick, we're mindful of it but take 50% growth any day. >> jim, fascinating. shares, of course, did get to almost a one-week low but recovered along with a bunch of other large name appreciate it as all, jim suva.

>> great to see you all. >> great to see you. microsoft another big story of the morning q4 revenue, a record $2 billion above analysts expectations represents an increase of 21% year over year $60 billion annual profit for the first time wow. microsoft's big reason for success, azure, competes with aws group 51%. microsoft cfo amy hood saying on earnings call revenue growth should remain relatively stable. pc sales, a sore spot in the quarter hurt by the supply constraints we've talked about linkedin benefited from increase in online ad spend recording $10 billion in annual revenue for the first time more on that when we speak with the ceo ryan lizlanski later on the show bring in analyst al exex zukin.

>> what looks like a blowout, what'sthe challenge for microsoft in taking on all of these point competitors in various areas? we talked about salesforce, slack, zoom. you know, throw google in there. perhaps as they add new ones, what do they have to do to grow from here? >> a great question. i think they have the best leadership they, they're in the best markets and have leading products on so many markets. what they have to do from here, continue doing what they've been doing. staying ahead of the game. coming into this quarter the expectations were high the azure was high, but they delivered and the stock rallied after they gave guidance a lot of people assumed that the pandemic pulled forward a lot of spend and that from here growth and margins would be, you know, difficult to match the levels

we've had thus far coming out of the earnings print, we're seeing them talk about double-digit operating income growth while margins are going down, but x'd some of the useful life benefits, margins going up you're seeing the cloud ant the collaboration story. azure plus office is going to be 85% of the incremental growth for microsoft. that business, the combination of that business is growing 33%, and they're telling you it's going to potentially accelerate or at least continue to be that way. so we're very bullish. >> so i can't help but look at apple versus microsoft not saying it's either/or, but so different in their pproach. apple doesn't make big acquisitions, you know, hardware and product that you can feel, so much at center of their ethos. really strong for microsoft here was the software, was the optionality, the sense that satya nadella brought, just trying to help you have the best experience no matter what

machine you're using's which one of those companies do you think -- i know you don't really focus on apple as much -- ends up being more valuable the next three years based on what the world is showing now >> i think that apple is the vehicle on which microsoft ultimately sees its success. i was joking with management team yesterday that i love returning microsoft products on apple devices. and you see what they just announced with windows and windows 365 being able to launch windows remotely from any device. so i think that, again, microsoft's power with azure to be the fabric of every customer product that they deliver, and microsoft office, the fabric where everybody spends most of their time in a given day, that's very powerful, and if you think about what's going to drive success for software in the next ten years, it's going to be engagement and data. microsoft has the most engagement and has a lot of data, and those two things form a flywheel the more of one leads to the more of the other.

so ultimately we think -- not just microsoft a lot of other companies in my coverage benefit from similar trends and we remain bullish on the entire sector. >> alex, some discussion about depreciation expense as they amortize dater centers over a longer period of time. why is that important to watch and overall your view how they're managing expense growth? >> i think that's more of a, an accounting conversation. it doesn't really have an impact on the trends, durable trends in their business the important thing they talked about, they pointed out yesterday that in spite, take out that depreciation expense they're actually taking margins up over the course of the next year that was an important signal that they're not done being able to improve the profitability of this business, and as they're layering on, increasingly dilutive from a gross margin perspective, businesses like

azure, they're still able to continue to find ways to grow gross profit dollars by a significant amount, and operating a significant amount that was kind of what stood out for us from that call. >> yeah. microsoft up just fractionally after that blockbuster report. alex zukin, thank you. >> thanks so much, guys. duo lingo goes public, and twitter news across the wire related to ecommerce stock popped almost 5% that story's coming up when "techcheck" returns.

welcome back duolingo pricing above the range last night at 102 a share. the current indications are right there as we await the opening trade. with us now first on cnbc is duolingo's co-founder, and duolingo is a three-time cnbc disrupter company. great to you have. a lot of people know the app but not a lot understand the business model and data behind it tell us, first of all, about this testing business that you grew during the pandemic, and how that reflects the whole approach that duolingo is taking >> well, first of all, thank you for having me here

so, see, a lot of people know the appware, the most popular way to learn languages in the world. we're an app use it on android and iphones. to give an idea for a scale. there are more people learning languages on duolingo in the united states than learning languages across all u.s. high schools combined. as a business, we're also, you know, a really good business the way we make money is, you can use it entirely for free much as you want use it for free, something like spotify, you may have to see ads end of a lesson. we make money in adds and make money from paying subscriptions. subscribe to turn off the ads. kind of a premium version of duolingo majority revenue from subscriptions and by now we're the top grossing app in the education category in both android and iphones, and even before the pandemic over the last four years been more than doubling revenue and, of course, we did, we did

get an increase interest from the pandemic, but basically our growth rates, growing before the pandemic, and we got a bump during the pandemic and then as the, you know, the pandemic eased up a little went down and then by now we're just growing in the same prepandemic way as before. >> and just talking about microsoft and the flexibility that software offers, whether you're in-person, whether you're hybrid, remote, and in a sense, that's what a lot of institutions have to adopt when it came to testing during the pandemic i'm thinking specifically about english proficiency tests that they weren't so eager to adopt testing methods that were remote, and that were software-driven, but they did through duolingo during the pandemic right? >> yeah. so another one of our products, most people know us through the duolingo learning app. we have another product duo

lingo english test basically, if you live in the united states you may not know about this, but in a worldwide, billions of dollars spent by people having to take tests to prove they know english. many reasons to take such tests. for example, apply to come to college here in the united states you may need to take a test that proves you know english. and we basically made our own test as few years ago called duolingo tests, the big difference between the other tests, ours you can take online whereas the usual english proficiency exams you have to go to a physical testing center during the pandemic we got a lot of institutions accepting our tests. for example, a lot of universities now accept our tests. if you look for example, top u.s. universities according to "u.s. news and report" 17 of top 20 accept tests proving english

efficiency for international students interesting part of our business and about 9% of our revenue now. and talked about premium rate bringing users into the duolingo ecosystem more than 500 million dpoen loads, but converting to paying customers tougher only 3% of users pay for that premium service. how important is it for you to grow that rate and what's the strategy there >> yeah. actually about 5% of our monthly attributes pay for the premium service and we feel pretty good about that that penetration keeps growing and seems to be growing about 1 percentage point per year. one year ago 4%. two years ago 3% we have more and more people subscribing by basically us adding more features to the premium offering you know, turning off ads is one feature. added many more and we think that will, over time, just continue going up. we see, for example, our business model is similar to the dating apps where you can use it

entirely for free, but if you use it for free you have to see some ads and then you can pay to subscribe to get a few perk. dating apps, look at match or bumble, they have about 10% to 15% of active users paying to subscribe. we think that's something, a place we can get to. >> might even be a partnership there. learn more language, might have more options on dating apps. awaiting that first trade of duolingo, thank you. >> thank you. speaking of ipos, robinhood prices tonight but may be risks ahead for that highly anticipated debut. kate rooney explains maybe say more risks >> more risks. exactly. the latest risk, deirdre, for robinhood is another regulatory inquiry. stock trades said in a filing late tuesday one of its regulators finra, looking into the fact ceo live tenant not licensed by that agency. not clear how much of a blow

this could be. jack dorsey runs square, for example, not registered with them either and another ceo running robinhood securities who is registered's deidre, you mentioned, adds to a long lichte of other inkwurpies revealed originally in robinhood's s1 executives have requests for information and subpoenas regarding trading restrictions around gamestop from january quayle from doj, s.e.c. and states attorneys general order flow remains another uncertainty for robinhood as it goes public tomorrow, and the rest of the brokerage industry this week analysts add now constructs adding if regulators banned payment for order flow, robinhood's revenue severely affected, creating an alarming way for investors. also implies it can keep up with

coronavirus growth dogecoin rallies and elon musk on "snl. jon? >> i'll take it, kate. dentally a risk factor to watch tonight and tomorrow meantime, hear from alissa sue. don't go anywhere. but eventually, with spring comes rebirth. everything begins anew. and many of us realize a fundamental human need to connect with other like-minded people. welcome back to the world. viking. exploring the world in comfort... once again.

i think you're going to like it here. umm, why is everyone... throwing things at me? look, as cfo it's my job to be ready for whatever's next. that's why i have my finance team, randomly hurl things at me. it's also why we use workday. it gives us insights, so we quickly pivot our strategy, people, planning, you name it. sorry, sir. i will aim straight at your next step. see that you do. would you like some coffee? workday. the finance, hr, and planning system for a changing world. ♪

you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire that building you're trying to sell, matc- you should ten-x it.ion. - ten-x it? ten-x is the world's largest online commercial real estate exchange. if i could, i'd ten-x everything. like a coffee run... don't just sell it. ten-x it.

resetting near bottom of the hour welcome back to "techcheck." i'm carl quintanilla along with jon fortt and deirdre bosa and julia boorstin interesting comments on the ad market first a news update. >> hey there, carl what's happening at this hour. boeing leading dow industrials following strong results from defense units. the company shelving planes to cut about 10,000 jobs. instead the ceo says boeing is getting ready for rising demand. >> it was a great quarter.

we are in a transition year. we've talked about that. this is indicative of that transition nowhere near where we want to be when we get a full rovy, but clearly on a good path to get there. >> and mcdonald's posting strong q2 results from a crispy chicken sandwich and growing digital sales. today mcdonald's is biggest loser in the dow fast-food giant noting higher wages and improved benefits. the parent company of coach and kate spade raising minimum wage paying at least $15 per hour boosting retail jobs. carl, the latest, back to you. >> thanks. a gut check. this price will take you all the way back to january 12 lisa su join ed us earlier on those rates. >> a very strong demand environment and in particular

strong preference for amd products across our business very happy with our results. nearly doubled revenue, doubled operating margins, tripled profitability. a very strong quarter that starts with very high demand in the right markets and in our products, they're doing very well. >> meantime, guys, we continue to weigh, jon, a specialty competitive energy that amd has relative to intel and vice versa. >> oh, yeah. night and day. amd is finally in a way getting the credit for the innovation they've had for years now, and intel, you know, i mean, they're in rough shape right now and talking about how they plan to recover, but it's got to be beyond the chip, because amd is doing so well there and has been executing well there for so long why intel's got to talk about packages and ramp up process technology, but, meanwhile, amd continues to do well both in consumer and in server, and really, you know, talked on

the call about constraint. growing despite the constraints, but if there hadn't been supply constraints ththe industry, could have done even better. >> notable that years ago amd decided to focus on making these chips, and throw off sort of their manufacturing. intel going into that space, jon. how does that position intel could there be more for pat gelsinger to look at while amd continues to focus that seems to work for them? >> i think intel was always about that combination of design and manufacturing. where even with amd, when they had global foundries wasn't their strong suit in the same sense. look what global foundry makes now. not that level of process technology where intel is trying to get and tmsc and samsung are. makes sense for amd to split that off for intel, one could argue especially given supply

constraints snt industry right now and what intel needs to do going forward maybe sdoent have a choice go big and compete beyond just head-to-head we amd, because, hey. i mean, they've got to do well in a lot of things going forward. >> yeah. there you said it. maybe they don't have a choice amd shares up more than 5% this morning. julia, also monitoring the ftc chair testifying in front of congress i hear it's already become a little fierce? >> well, that's right. now, this is the first time we've heard lena cohn speak in an official role, testifying before the house and commerce committee sharing concerns about rick of industry giants as well as consolidation take a listen. >> significant market consolidation deprives consumers workers and independent businesses of choice further enabling dominant firms to engage in unfair practices as the wave of privacy abuses in recent years has shown, market dominance often allows companies

to renege on commitments, evade the law and repeatedly vitate commission orders. >> areas ongoing, took a brief recess and of course all comes as congress considers various antitrust bills which would among other things better fund the ftc to enforce current rules as well as creatinggreater antitrust constraints. carl >> all right a lot more to come from you obviously. talk spotify news and as we said earlier. news out of twitter. "techcheck" is back in a moment. zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 billion last year.

that's decision tech. only from fidelity. we love our new apartment. plenty of parking, big closets- there's too much pressure in the bathroom. hey... good luck with the future in-laws tonight. don't overthink it. but don't underthink it. don't talk about your cover band. don't talk about your fantasy team. don't talk about your cats. you're gonna do great! at least geico makes bundling our renters and car insurance easy. we do save a lot of money. oh no no no... oh boy... where are you going for dinner? 1987? for bundling made easy, go to geico.com.

spotify numbers are out. stock's weak e back to the leveling of about mid-may and down about 30% for the year get back to julia who talked to daniel eck earlier about i guess mainly, julia, the way in which ad-supported dollars will help the business >> yeah. a number of different factors here at play here for spotify. the company beat expectations top and bottom line, but the stock is down about 7.5% right now and largely on the company's monthly active user shortfall. ended the quarter with total 365

million users. lower than the company's own guidance of a range between 366 million and 373 million users for the quarter. now, i did speak with spotify's ceo who told me earnings, that the user disappointment was due to the ongoing pandemic and the fact they marketed less in regions where the pandemic was most acute also told me he was bullish looking forward, and user trend line reversed, telling me, "all leading indicators such as user engagement are very healthy and we're starting to see more marketsopening up. so it's looking very good for the second half of the year. things have never been stronger for the business more above the road than anything." now, he pointed to the better than expected advertising growth in the quarter of 110% up in the quarter driven largely by

podcasts the colonel constraint, supply, not demand "an audio platform now investing in podcasts the last two years a and deliberate ly advertising making it a new leg of the stool, advertising second biggest revenue driver forespotify. shifting gears speaking of an ad supported platform looking into other new reservevenue streams. twitter is piloted a shop module businesses can sell products on their profile. people able to buy things on twitter without leaving the platform and starting it off with a handful of brands here in the u.s. twitter says it does not plan to take a cut of these sales but certainly this could help drive more retail advertising. twitter sheas up about 4.5% on this news. deirdre? >> probably eventually pay what bitcoin does if dorsey has his

way. "operation blizzard" back in the spotlight following a lawsuit alleges culture of sexual harassment at the company. the ceo responding to growing employee backlash and internal note he expressed remorse over not providing "the right empathy and understanding. his response comes as hundreds of many employees gear up for a walk-out today to pressure the company to do more to address a host of issues including unequal pay, gender discrimination and harassment activision faced this over the last few months, a frat boy workplace culture, quote/unquote, and now this lawsuit. shares seeing a dramatic dip as the news broke. more "techcheck" after this. stay with us.

[swords clashing] - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme. competition beat us again. how? they have a better finance system than we do. i feel like they might have a better finance system than we do. workday. how do they make better decisions faster?

workday. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world.

workday. the fi(sound of peopleanning returning to the workplace). (sound of a busy office) (phones ringing, people talking, meeting) the company we've trusted to keep us working remotely, is the same company we'll trust to bring us back together. safely. securely. and responsibly. so now, between all apart and all together, there's a bridge. cisco. the bridge to possible. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire welcome back to "techcheck." a major bright spot for

microsoft this quarter ceo joins me in a rare interview next stay with us. if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. and now get netflix on us. it's all included with 2 lines for only $70 bucks! only at t-mobile. [swords clashing] - had enough? - no... arthritis.

here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

linkedin reaching a new milestone. the company reaching $10 billion in revenue for the fiscal year for the first time nap reflects a strong fourth quarter for the social network seeing an overall

revenue boost of 46% driven in large part by the ad business which passed the $1 billion mark this quarter. joining me in a cnbc exclusive linkedin ceo ryan roslansky. goodness, a business that reflects the year-plus we've been through if i'm not mistake an year ago you were doing layoffs now this growth. how have you navigated it and how lived inn member linkedin ne it >> thanks to having me good to be here. looking back, i don't think i expected my first year of ceo was me and my bedroom navigating my company with my three kids doing schoolwork online around the house. it was difficult you know, the year was difficult for everyone everywhere you don't get to be a ceo only when the sun is shining.

can't be a leader only when things are good, and i'm grateful for how linkedin and our entire company came together over the past year we helped nearly 6,000 people find a new job every hour. over the past year retrained over 42 million people globally for skills needed to navigate the pandemic, and like you said. ended up in us creating so much value that we brought $10 billion of value back to the company for the first time in the company's history. >> you are a part of microsoft, and right now, after the overall company has reported revenue, a lot of people, a lot of investors, thinking, where does the growth come from here? at $10 billion, to my eye, annual revenue, makes you bigger than twitter, bigger than snap we talk about the social landscape. i know you're a professional network. what is really driving growth and engagement right now on linked how much of it is video, live video? how much of it is the subscription business itself and

the value you can show there >> well, it's across all of our businesses, but truly what's happening in the world, and you've talked to a lot of people about it you know, purview of the network we run the network and see so much of this there was a great talent reshuffle great talent reshuffle unfolding right now in the world. every ceo, every executive team at every company right now is trying to figure out what their company looks like moving forward. is it remote is it hybrid and what they're actually doing is rethinking their culture. and rethinking their values how their company works. other than, you have every employee in the world working remotely the past year, trying to figure out not only how or where they work moving forward but why they want to work moving forward. they're rethinking their values as well. this is creating a large idea of a talent reshuffle we call it the great reshuffle it's a good thing. over the next 18 months or so

it's going to be uncertain, messy. but over time you're going to see employees and companies coming together in places where values aloan that's better off for the future of work. and for linkedin we sit in the middle of all this we sit in the middle of companies trying to navigate the future of their company looking like we sit in the middle of employees trying to figure out what they want to do in the future what connections they want to make, businesses they want to start. so we see continued growth and engagement in the product because more than ever before professionals are coming together to try and navigate a very uncertain future. like i said in the beginning, i'm very proud of our company we can sit in the middle of this and help the world navigate it it's also a big responsibility for us. >> talk to us about the products product itself you became ceo after being svp of product and user experience there are complaints still about spammy stuff going on on linkedin also you have challengers in the

professional networking space, maybe particularly for blue collar workers you're focused more i think on the office worker, knowledge worker category. how much is your platform going to shift or expand or tweak things how much do you think you're looking at or open to expanding the sorts of workers and employers you serve? >> yeah, it turns out that's already happening. there are north of 774 million members right now on rengd in. growing at roughly three members per second actually, 125 million of the members are first-line workers that number is actually growing quickly. 35% of new signups come from the first line category. we're seeing twice the engagement in first-line workers than we see with knowledge workers. the platform is expanding. our vision as a company is creating economic opportunity for every member of the global workforce. while we've always focused on that every and every member,

over the past year we've seen acceleration in the first line workers come to the platform making connections figuring out way to navigate the pandemic >> are there challenges being a global company, particularly when it comes to china for a linc time it seemed you were positioned because of your professional focus that wasn't bringing up friction issues. but when it comes to where data lives, who has access to people's data about movement, locations, the content they post this might be an issue for you where china is concerned even now is it? >> running a global company is definitely difficult and something i've learned over the past year is just the number of constituents that you need to manage as a ceo. and more and more governments are becoming an important constituent to keep in mind, whether it's how we navigate working creating opportunity in china. last week i had the opportunity to sit down with spanish prime

minister pedro sanchez trying to figure out a tech boom in spain. that's a human capital challenge. how do they retrain workers in spain for technological advancement? two weeks ago i had the opportunity to sit down with secretary john kerry, the special envoy for president biden on climate fundamentally a greener economy is another human capital challenge, ensuring the world understands the skills needed for ma greener opportunities, the opportunities that exist, how do we get people in the right jobs, get companies to understand the commitments they need to make every day i feel we work in some way shape or form with governments all sharing the common goal of broadening prosperity and grateful they are coming to linkedin to help with that >> congratulations on the milestone, $10 billion fiscal contribution in revenue from linkedin to microsoft. and great to have you on "techcheck."

ryan, thank you >> thanks, jon. in the meantime wal-mart partners with adobe this morning, announcing that, selling e-commerce tech to other retailers through adobe. you can hear more from the ceo on fortt knox on friday. back in a moment competition beat us again. how? they have a better finance system than we do. i feel like they might have a better finance system than we do. workday. how do they make better decisions faster? workday. it's got to be something workday. i think i got something. work... hey, rob, you're on mute. hello! hey, rob, there he is. workday. the finance, hr and planning system for a changing world.

what the world needs now...is people. people who see energy a little bit differently. where a switch to cleaner power means a more resilient grid... with renewables and gas power providing energy whenever it's needed. because seeing a more sustainable world isn't far in the future. we're building it...now. ge building a world that works. at pnc bank, we believe in the power of the watch out.

the “make way, coming through”... great. the storm alert... dad. and the subtle but effective ding. that's why we created low cash mode. the financial watch out that gives you the options and time needed to help you avoid overdraft fees. it's one way we're making a difference. because we believe how you handle overdrafts should be in your control, not just your banks. low cash mode on virtual wallet from pnc bank.

one more thing, senator elizabeth warren sounding off on cryptocurrencies calling for regulation on "squawk box" this morning. but she may not be the bear in everyone calls her have a listen >> what's the lesson from history about when do we regulate drugs as long as people can sell snake oil it turns out that nobody really invested in having good drugs that were safe and that helped people. and once we really had an fda that stood up and that said, you know what, we're testing these drugs before they go on the market, assure the public that they are safe, then look what

happened we got more investment. and obviously a much bigger market that helped the entire world. >> the senator also noting that a fed-backed digital currency kwo help underbanked americans thanks to lower costs. carl, it seems to be coming a differentiator in theecosystem with, a lot of companies we heard from a co-founder yesterday saying regulation is a good thing they may be valued better if they do sort of get in line and maybe not regulation yet but perhaps more transparency. >> yeah, that's been the standard response to regulation and threats of regulation, jon, that it's legislate myselfing some way, makes it a real thing that can be understood and managed by officials >> could be. but a lot of crypto folks want hands off entirely one last thing before we go, back to dwoo ling ovr pricing above the range last nature. waiting for the open

now over 140, carl you know what the duo lingo owl must be thinking right now >> what's that >> i just gave a look. i just gave an owl look >> yes, yes. guys, of course the fed decision in a couple hours. and then tonight facebook, equal cal come let's get to the judge >> welcome to the "halftime report." front and center this hour the phang fallout at alphabet, microsoft, all report blowout earnings facebook on deck now we debate where the stocks likelying to from here joining me today courtney gibson is back. joe terranova, jim lebenthal pete najarian. good to see everybody. a decent gain for the nasdaq which was negative for a little while. then picked up steam, falling back a bit still a gain of 87 points. s&p in the green the dow is a modest looser right now. pete, you get the first crack at this