1. Netflix will collaborate with Microsoft. 

Netflix is introducing a new ad-supported subscription plan. Netflix lost 600,000 subscribers in the first three months of 2022 and is expected to lose another 2 million in the second quarter. Netflix is hoping that this new agreement will help them retain users and increase their profitability. Microsoft will bring strong privacy safeguards and “innovate” their tech and sales departments. This provides an additional incentive for marketers to advertise with Microsoft. 

2. JP Morgan reported a substantial drop 

The largest US bank, JP Morgan, saw its net income fall by 28% from April to June. During the pandemic, JP Morgan was forced to set aside “loan loss reserves” to protect its bottom line if customers were unable to repay their debts. However, after finally releasing those reserves into the business last year, the bank has been forced to rebuild them in case of a recession. This contributed an additional $428 million to the total last quarter.

3. Pepsi had a profitable quarter 

Despite the fact that Pepsi products were 13% more expensive last quarter compared to the same period in 2021, customers bought 6% more drinks in this quarter. Pepsi increased its annual organic revenue growth forecast from 8% to 10%. While Pepsi could keep raising prices, the company is probably aware that there is only so far it can go before struggling customers give up. That may be why Pepsi plans to save money in other ways, such as reducing product sizes. 

4. Amazon is expanding into the healthcare industry 

This month, Amazon announced that it had agreed to pay $3.9 billion for healthcare provider One Medical. Amazon has previously expressed an interest in the healthcare industry. In 2018, Amazon paid $750 million for the digital pharmacy PillPack. This is Andy Jassy’s first major acquisition as Amazon CEO and it has demonstrated his willingness to capitalise on growth in some areas while cutting costs in others. This acquisition can be damaging for healthcare competitors, Walgreens Boots Alliance and CVS Health, both of which have recently added primary care services to their stores. Amazon sees potential in making a significant impact in the medical industry, which is caught in insurance companies and government regulations. 

By Fizah Jathol