josh lipton h more. >> reporter: $27 billion, that was a big number in alphabet's latest earnings report. first aglevenue from g properties, the core properties that this company owns and operates likeearch a youtube, erin kessler of raymond james says that beat his estimate growing at 21.5%. on the otherhand, though, kessler did note some disappointing metrics too. gross margins lower than expected and all of the expense were up $800 million, higher than wha more "nightly business report," i'm josh lipton, san francisco. >>> danl joins us now to talk about these numbers and his take on the stock. he is senior research analyst at newbergeberman. >> great to see you both. >> any red flags for you, t expenses or anything else? >> bill, i think overall, the business appears to be healthye ore search business was onut target, e is seeing strong growth. the google cloud business appears to be doingery wel what people are a little bit disappointed by ofisourse, the margins and obviously the level of expenditure in some of the other bets but i think if we step back and think about what's going

. >> let's get to josh lipton from the samsung product event. hey, josh. >> reporter: melissa, we're at this event which just started and execs are on stage making news getting a lot more color about their foldable phone so when this phone is folded, melissa, they say it will be small enough to fit in the palm of your hand, 4.6 inches when it's unfolded and 7.3 inches it's going to come in four colors, two batteries, six cameras. the price, $1,988. it will be available on april 26th so why is there so much excitement about this technology we've talked about foldable phones this is a radical new form factor, a radical new design and the hope of some analysts is that it will inspire a lot of consumers in the months and years ahead. and i caught up with a tech analyst at this conference he understands the excitement, but he said let's test drive these devices and see if the os and the operating systems and the apps work as smoothly as advertised and, of course this, price tag, $1,980. how many consumers are going to be excited about that? i'm going

josh lipton is all over the story.t's check riding with the street's reaction i checked in with michael from webbush. he said they missed badly on revenue. the full year guide was even worse. the bright spot was live services flat year over year it looks like battlefield missed completely, mobile got crushed the stock deserves to be crushed on this printing colin sebastian put out a note to clients before the call and said he was more cautious before these results which compounds existing concerns over franchise strength in terms of what's going on here, the ceo andrew wilson pointed to a couple of issues. increasing competition that impacted sales of battlefield 5. he said mobile, harder than ever for new games to break through on the call they tried to talk about their pine line, anthem, a new game coming out. they talked about a new battle royale game. the game broke a million unique players in under eight hours but investors not concentrating on that right now, melissa. >> josh, thank you josh lipton in san francis

. >> thank you for your time morgan creek capital >>> news a i lert on apple josh lipton has the details. >> tyler, cnbc's alan scherr man is giving us new details about apple's tv service he says apple is targets an april or early may rollout for this new video service interesting who sherman says is going to be participating. lion's gate, star, cbs and viacom but don't expect netflix to be part and hbo's participation is also in doubt of course investors paying close attention to the fast er growing higher margin services business. that was not the only headline on apple today we also want to bring you up to speed on another dramatic headline here. the u.s. government has now charged a former apple executive with insider trading he was corporate secretary, director of corporate law. allegedly traded on material, nonpublic information on apple's earnings between 2011 and 2016 according to the government when he realized profits of $227,000 avoided losses of 377. the potential penalty here, 20 years in prison and a $5 million fine apple did not respond to requests for r comments, guys. >

josh lipton is in san francisco with more. >> melissa, i reached out to some analysts for some quick street reaction. i spoke to one from d.a. davidson he said billings obviously fell way short. the revenue outlook was not just below the street but represented a significant deceleration he made the argument to me that box is still a company with good technology to him this looks like, though, extended sales execution issues. the bottom line he says is that a turn-around in sales and a reacceleration in growth could take significantly longer, he told me, than investors had first expected brian peterson at raymond james is telling his clients, there were solid cost controls in the quarter but bottom line for him, prior indications of growth acceleration in fiscal '20 clearly in his words off the table. i had a chance to check in with the ceo as to the guidance, weaker than expected he made the point that he would point to two broad points of weakness, a few seven-figure deals did get pushed out in terms of geography, they contin

let's get straight to josh lipton who's at the samsung event in san francisco hi, josh >> so, melissan tell you we're here in the samsung demo room after that keynote ended. everybody flooded down here to check out the new hardware of course a lot of buzz being generated about what you just mentioned there, the foldable phone and what the company refers to as the galaxy fold here's how this device works when it's folded, 4.ach6 inches unfolded, 7.3 inches two batteries, six cameras, available on april 26. you can understand why there would be a lot of excitement about this device. it's a radical new design against the backdrop of this smartphone market where overall growth as ground to a halt i did catch up with bob o'donnell who was here today he had some questions about the device, questions about the software ask it really work seamlessly with that new hardware as advertised if it didn't, it wouldn't matter how innovative and creative the hardware was then there's the price point it's going to cost you $1,980. i asked o'donnell about that he said listen, it's obviously a luxury pro

highs it's overwatch league season kicking off and touting a $5 million prize pool let's get to josh lipton the details hey, josh. >> melissa, it's a date video game fans have marked on their calendars. the start of a new season of activision blizzards overwatch league 20 teams of video game players competing for a prize pool totaling $5 million. activision is capitalizing on that red-hot trend of e-sports which will attract an audience of 454 million this year and revenue will grow nearly 30% to more than $1 billion sponsors for the overwatch league include coca-cola, toileta atoilet -- toyota and intel select games will air on abc, espn2 and disney xd. we asked the league's commissioner whether it would be smart to offer the game itself for free after all wouldn't that mean that many more gamers playing and tuning in to watch the competition. >> we think the business model we have at overwatch is the right business model for the game to create the right player experience all of the content and additional maps and heroes is free so that there's a great ongoing experience for our players. >

guys, back to you. >> thank you, josh lipton in san francisco.nteresting quarter for cisco. it included the government shutdown, china trade tensions, it included a lot of the bad macro data from around the world. you said this is a very important earnings >> the confident, their ability to actually raise guidance revenue,s were expected to increase 3% sequentially they're saying it's going to be up 5%. given all those headwinds, 40% of their sales come from outside the u.s. to me this actually speaks to, you know, global enterprise spending here, and obviously the government stuff is really important, too i don't know if you buy the stock at 50 bucks trading at 18s 19 year highs. trading on a market multiple given that visibility and the confidence, it seems to be a good own in the high 40s >> sorry, i just think that cisco if it's treated in the same way as with other tech infrastructure places people are wrong. they're in the position to be in cyber security there's a reason the stock's been so defensive, and i think this company's going to co

. >>> shares of google parent alphabet lower josh lipton just spoke with the cfo about the results. catch up briefly with the cfo about the report obviously, that is company that continues to spend money cap-x higher than the street looking for so i did ruth porat about that we invest in tech infrastructure to support growth. she told me her view is that machine learning opens new products or advertisers and users and announced sizable investments in real e state and saw those headlines of expanding the office footprint and i caught up with suntrust who covers the name before this print and he had noted already this company had seen the highest increase in cap-x of any fang name that he covers also about competition you know, guys, obviously amazon reported we saw that their ad business continues to grow strongly i asked ruth whether that was coming at the expense of her company. she said site review grew 22%. she said advertisers will be interested the advertising market is continuing to grow so seeming to suggest there that the overall market is growing with the contribution of ama

let's go to josh lipton in san francisco for more hey, josh. >> let's start with electronic arts which printed revenue that missed the street's forecast ea was dealing with a lot of competition from other big publishers like activision as well as that global phenomenon which is fortnite. it reached 200 million registered players ea acknowledged on the call that it made mistakes, emphasizing the single player experience of its game battlefield 5 rather than the popular battle royale mode of fortnite then there is take 2 which also got nailed in today's trade after a disappointingi forecast. the ceo was on today >> fortnite was a huge hit last year that's great we'd like to have all the hits, we don't always get all the hits at the same time fortnite was doing well, grand theft auto online had a record year other titles in the marketplace are doing well as long as we deliver quality, people show up that's what we've seen in this quarter and what we're projecting in the year. >> now, one question for video game investors from here, do these disappointing earnings results signal a peak in

let's get to josh lipton in san francisco. the conference call is under way. e's talking about this q4 revenue drop that we saw driven mostly by the drop in gaming you saw gaming revenue $954 million, down 45%. among the reasons they talked again about this crypto hangover they saw but exiting q1 they expect channel inventories to be at normal levels. yes, she said it was a challenging quarter in the gaming business but they look forward to putting the channel inventory correction behind us she actually talked about data center 2 they did mention this issue they highlight whed th highlighted when they preannounced in late january that some customers around the world became cautious due to rising economic uncertainty, and so a number of deals didn't close in january but they noted they didn't expect that to continue, so take a listen to what they said >> we believe that it is temporary. the strength of nvidia's accelerated computing platform remains intact we continue to lead the industry for performance in scientific computing and deep learning. >> here's the k

josh lipton filed this report. >> alphabet reporting earnings per share of $12.77 on revenue of $39.3nalysts had modelled eps of $10.82 on revenue of $38.9 billion. i checked in with aaron kessler of raymond janlz one big number that stood out to him $27 billion. it refers to revenue from google properties that's the company's bread and butter the core properties it owns and operates, like search and youtube, kessler says that grew faster than he expected. here's what also grew faster google's capital expenditures. they surged in q4 to nearly $7 billion. that was more than the street was looking for, but cfo ruth telling cnbc her company remains focused on the long-term the company continues to invest in tech infrastructure to support growth, and the company has also made sizable investments in real estate in the quarter. josh lipton, cnbc business news, san francisco. >>> you know, it's interesting to see that not only did shares pull back last night by 3%, but they're still off massively. if we take a longer term view down 12.5% from a july high, and it's not just alphabet it's the

josh lipton shines the secto spotlight on semi conductors. >> reporter: chip investors have been breathing a sigh of relisi. trade ts between the u.s. and china have eased, with new hope that president donald trum and chinese president xi jinping willet a deal done, because many chip companies such as nvidia and amd have significant exposure to china. it's ant issue t intel's new ceo recently addressed.>> we're all excited by the progress that seems to beade in the discussions between the u.s. and china, because we think global trade is good for- good for the industry in particular, so we think ove time as the thawing out of the dynamics play out that it's going to open up opportunities. >> reporte ano reason for increasing enthusiasm, a friendlier federal reserve, which says it will take a pause from hiking interest rates, alleviating concerns that the fed would slow the economy, emand forld impact semi conductors. then there's the outlook for the sector's earnings, which has been slashe that means it's now possible for these companies to surprise investors with better-than-expected news.

josh lipton has more on activision's results. >> reporter: $6.3 billion, that was one number in activision's report referring to netbookings. that's the measure of both digital and physical gamesales. oppenheimer's andrew ersaitz that's important because that metric captures all revenue the company's generating, and it was down $1 billion year over year. o on tther hand, he notes a potential positive, saying the company is increasing head count in development to aelerate the pace of new content from its leading franchises. but others at activision will be losing their jobs. the company did announce a workrce reduction of 8% from its total workforce of 9,800 employees. for "nightly business report," i'm,osh lipt san francisco. >>>rm under aour powers past estimates. that's whe we begintonight's "market focus." the sports apparel retailer repoaned better-xpected earnings and revenue, thanks to strong sales and growth overseas.ts analay the company was able to cut excess inventory ana ge excitement around new product launches, and that helped send the stock up nearly 7% to $22.21. quarterly pro

. >>> we have news crossing now on uber josh lipton with the details josh >> yeah, sara.as filed suit today to overturn new york city's law that would have capped the number of ride hail drivers in new york city and, in fact, we have a statement here from the company saying that rather than rely on alternatives supported by transportation experts and economists, the city chose to significantly restrict service, growth and competition by the for-hire vehicle industry which will have an according to uber disproportionate impact on residents outside of manhattan who have long been underserved by yellow taxis and mass transit. so again, guys, more news here, uber filing suit to overturn new york city's law capping the number of drivers. back the you guys. >> josh lipton, thanks clearly they are going to fight any kind of rules, caps, bans, taxes. >> they have done it all over the world. almost every city tried to protect the existing cab fleet and it's interesting of a big tech against new york city right? amazon, uber taking them on. >> i wonder if the progressives jump on t

are josh lipton texted me the price, $190. is that a birth date or the price?hey did that >> it's getting a lot of attention. the foldable phone would have gotten attention anyway. it's something different we all have these really good smartphones we carry around, they have great cameras. really good for several years now. and a lot of us have been writing about innovation and this space has hit a wall. whatever you think of a foldable phone, it is different so it would get attention for that when you also put on top of that this $2,000 price tag, and it can be go up from there if you go for 5g, the faster networks that are coming, you'll need to take out a mortgage for this thing. >> are these features sexy enough to make you want to switch ecosystems or mostly selling to the family that they will have? >> mostly people with android phones, we've seen real parity what the apple and samsung offer. in the android field, it's so competitive whether you're looking at what samsung or lg, htc. it's comparable. samsung has shown they're a leap ahead in the android wo

, despite a beat on earnings and revenue, due to declining advertising prices and rising costs, josh lipton spoke to the alphabet ceo on the niumbers last night. he joins us with more on the conversation and the quarter >> reporter: another quarter of solid top line growth but one big question investors have for alphabet now, how much the company is spending. google's capital expenditures soared 80% to nearly $7 billion more than what wall street expected the company's operating margin was 21%, down from 24% where is all of the money going. the cfo saying we remain focused on investing long term the primary driver continues to be technical infrastructure to support growth costs moved higher on hiring alphabet had 100,000 employees by end of the year importantly, she said that she expects capex growth rate to moderate significantly i asked her about competition from amazon's ad business which we know is growing strongly, she said site revenue has grown 22% year over year, reflecting strength across the board. our view is whenever a new inventory is created, that attracts consumer interest an

the last of the fang stocks, alphabet out with earnings moments ago that stock down about 2.5% josh lipton spoke to cfo he's been monitoring the conference call and will bring us the headlines the chart master says there is one group of stocks that have come too far too fast. they'll tell us what to buy instead. we start with the rally, the nasdaq officially exiting the correction as tech stocks are on the run. the nasdaq now up 18% from the depths of the december lows and you'd think it was off to the races, but with alphabet coming up lame in the bulk of the big tech stocks actually lower since their reports. has this rally been nothing more than a head fake dan? >> i don't think so. if you go back to the beginning of december, we had this gap opening. there was a lot of enthusiasm on the head winds that had started the volatility earlier in the summer into the fall the nasdaq dropped 18% in nearly a straight line in three weeks we've had this massive view revr reversal we said you've got to wait for earnings, see what visibility they have and how they are positioning for 2019 as it rela

. >> another name for you here for earnings josh lipton with go pro. ra, gopro, expectations of .26 cents and $377 million. street had been looking for 374. beats there on the bottom and the top. interesting stat also. gopro saying that gopro.com represented more than 10% of revenue in q4, growing more than 50% year over year gopro saying in a statement that with this momentum and a continued focus on expense management, we're planning for growth and profitability in 2019 that stock heading into this print was up about 20% year to date we're moving higher here in the after hours. guys, back to you. >> josh, thank you very much meantime, chipotle kate rogers has those. kate >> very strong fourth quarter for chipotle eps adjusted that's compared to estimates of $1.37. revenue at $1.23 billion for the fourth quarter estimates from wall street, 1.19 same store sales, 6.1% street looking for an increase of 4.5%. the company noted 2% transaction growth in the quarter. digital here up 65.6% in the quarter. now accounting for 12.9% of sales. for the full year,

. >> cisco numbers are out josh lipton has the numbers for us josh >> earnings per share, the street cents revenue 12.45 billion. analysts have been looking for 12.41 billion. cisco expecting eps and for revenue growth of between 4 and 6% analysts were looking at 3%. cisco saying they'll add $15 billion increase a year to their buyback program, increasing the dividend by 6% looking quickly through the segments here, infrastructure platforms, 7.13 billion, up 6% that's the core network offerings from the company about 1.5 billion, security 658 million, up 18%. this conference call starts at 4:30 eastern and we'll be on it. guys, back to you. >> josh, thank you so much for that don't want to miss this as well. cisco ceo chuck robbins tomorrow at 9:00 a.m. on "squawk on the street." set to dig in to the numbers what's your take on this clearly stocks jumping, quarter numbers pretty much in line but guidance better than expected. >> i think it shows they've doubled down on m & a, specifically in security and cloud and i think you're starting to see those benefits hit numbers. it's not ju

speaking of china -- >> apple, iphone shipments in china fell nearly 20% court reports in q4 and josh liptonn the story hi, josh. >> wilf, new data highlighting apple's challenges in china. shipments did drop 20% in the final quarter of the year. that according to idc saying that the smartphone market overall there contracted about 10% so apple dropping harder idc's ryan tells me there's factors at play for apple in china right now, a slowing economy, lengthening replacement cycle and the iphone's price other phone makers fared better. huawei grew 23% as it took share from smaller local rivals. ceo tim cook highlighted china as a big reason they cut the sales forecast last month and emphasized weakening economy exacerbated by the trade war and cook told me that there were signs of apple's business improving in january, at least relative to december he said and apple did reduce the price of iphones in china to negate the changes of currency and while the franchise under pressure cook said other parts of the business like services and wearables are strong wilf >> did you say the huawei gains f

. >>> meanwhile the latest smart phone war, samsung josh lipton has the details and how they unfoldedwe're in a samsung demo room. the keynote is over. people have come down here to check out this hardware for themselves clearly a lot of buzz about that new foldable phone, what the company is referring to here as galaxy fold. here is how this works when it's folded, 4.6" but then you unfold it, 7.3" two batteries, six cameras available april 26th why all the excitement this is a radical new form factor it is a big change in design though i know analysts have some questions, too they want to take this device for a test drive and see does the operating system and apps work as seamlessly with this device as advertised then, of course, the price it will cost you, $1,980 i would love to show you that device they're not making it available at this demo room. we'll have to wait sheer what you don't have to wait for all the other smart phones that samsung is announcing today, s-10e, s-10 and s-10 plus will go on sale march 8th ranging to $990 from $499 camera technology. there were new featur

meantime we have more headlines from active vision earnings josh lipton has been listening on the callbers josh. >> which will of be, the conference call going on right now. and the company is announcing here they are reducing the workforce by about 8%, the company saying at last count they had about 9,800 employees globally activision saying on the call they had record financial results in '18 but didn't achieve the player investment goals they set and 2019 is requiring significant changes of which job cuts are obviously part of that back to you. >> okay josh thanks. the stock up and down after hours currently at 1% up after the break we checkn ion the other big after hours movers don't go anywhere. we're back in a couple much minutes. state of the art technologyt makes it brilliant. the visionary lexus nx. lease the 2019 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. . >>> let's get a check on headlines making news after hours. activision volume active after et beating and earnings on missing. and full first quarter guidance below estimates announcing

it is on electronic arts josh lipton with the numbers. >> wilf, reporting eps of 86 cents.ediately clear whether it compares to what the street was looking for. adjusted revenue of 1.61 billion. the street at 1.75 billion looking at a q4 gap eps of 56 cents. again not clear if that's comparable to the buck 58 the street forecast. but light q1 net bookings guide, as well. just looking through the net revenue by composition here, full game downloads, coming at 247 million. live services at 480 million and mobile at 181 million. conference's call at 5:00 p.m. eastern. we'll be on it. >> thank you for that. big miss as you say. meantime we have disney out. julia boorstin with the numbers. >> wilf, disney beating expectations on the top and bottom line. revenues at 1.53 billion adjusted earnings also beating estimates coming at 1.84 dlrs per share. analysts expecting $1.55 per share. you see disney trading up 1.3% on that news digging into the different divisions here, there's interest in the media networks division and operating income increased by 7%. if you look at what's dri

. >> that was outgoing apple chief angela aarons talking to josh lipton in 2017 she announced she was yesterday. for awhile had been mentioned as a possible successor to ceo tim cook let's get back to our guest host, jason trenert. jason, you mentioned you don't think there's the circumstances that would lead to a u.s. recession before the 2020 election >> yeah. >> you think that the market is priced otherwise at this point >> listen. i think the market is trading at a little less than 16 times 2019 earn education would spit out something more like 17 or 18 times earnings i'm not so bold as to say we're going to trade back up to 18, but i think the risk reward is quite positive the downside risk is quite low especially in some of those you talked about before. the cyclical sectors which have not really participated in the stronger economic news that we've had since 2016 >> how great a risk is there in the markets that the fed actually does move i mean, it's all but priced in there is no hike any time this year that there could be a cut in the next move rick rieder said it would be aga