Netflix is pledging to shift a portion of its cash to Black-owned banks. The video streaming service said it’s committing 2% of its cash to institutions owned by Black people and serve the community. The company has $5 billion in cash as of the end of March, so its total contribution would be $100 million. The move is good business for the banks, which make money from deposits. It reflects the...
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How Activists Proved to be Salesforce’s ‘Superpower’
These corporate efficiency initiatives really work! Salesforce’s April-quarter earnings report Wednesday showed an operating profit of $412 million, a 5% margin, compared with $20 million a year earlier, which equated to a margin of 0.27%. The reason was lower expenses—research and development costs fell 8.4% while marketing expenses dropped 6.5%—even as revenue rose 11%. Cutting costs to lift...
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