WSJ Tech News Briefing — TNB Tech Minute: Ford Reports Largest-Ever Quarterly Loss Mainly Due to EV Business

Date: February 11, 2026
Host: Julie Chang

Episode Overview

This Tech Minute episode provides a succinct update on major developments in the tech and automotive sectors. The primary focus is Ford Motor Company posting its largest-ever quarterly loss, mainly due to ongoing challenges in its electric vehicle (EV) business. Additional coverage includes earnings updates from Shopify and NetEase, highlighting evolving trends and investor sentiment across tech and e-commerce.

Key Discussion Points and Insights

1. Ford’s Historic Quarterly Loss

(00:29 - 01:16)

$11 Billion Quarterly Loss:
- Ford Motor reported an unprecedented quarterly loss of roughly $11 billion, attributed mainly to significant charges related to its electric vehicle operations.
Long-Term EV Losses Projected:
- Quote (Julie Chang, 00:39):
  
  “Ford expects to continue to lose money on EVs until 2029.”
Additional Financial Pressures:
- The company also faced an annual net loss above $8 billion and spent approximately $2 billion on tariffs last year, with similar costs forecast for 2026.
Investor Perspective:
- Despite these setbacks, Ford’s results “surpassed market expectations.”
- The company projects improved cash flow in the coming year and expects to reduce losses from its EV segment.

2. Shopify’s Revenue Momentum Amid Market Concerns

(01:17 - 01:54)

Growth Highlights:
- Shopify anticipates continued revenue growth in Q1 2026, building on strong Q4 results.
- Quote (Julie Chang, 01:23):
  
  “In 2025, revenue rose to more than $11.5 billion... the commerce platform’s revenue rose to $3.67 billion, exceeding analysts’ expectations.”
- Gross merchandise volume (GMV) reached nearly $124 billion.
Investor Sentiment:
- Despite strong top-line growth, Shopify posted a lower net income of $743 million.
- Quote (Julie Chang, 01:37):
  
  “Its stock has recently fallen alongside other software names amid investor concerns around AI.”

3. NetEase’s Profit Decline Balanced by AI-Driven Efficiency

(01:55 - 02:22)

Financial Performance:
- The Chinese video game company saw a 29% drop in net profit (down to just under $903 million), missing expectations.
- Revenue, however, increased by 3%, matching market forecasts, though this pace slowed from previous quarters.
AI’s Role in Production:
- NetEase credited “the application of AI across its game development” for improved production efficiency.
- Quote (Julie Chang, 02:19):
  
  “NetEase also signaled improving production efficiency, which its CEO credits to the application of AI across its game development.”

Notable Quotes & Memorable Moments

Julie Chang on Ford’s EV Business:
00:39 — “Ford expects to continue to lose money on EVs until 2029.”
Julie Chang on Ford’s Resilience:
00:53 — “Despite these massive financial hits, Ford’s overall results surpassed market expectations.”
Julie Chang on Shopify:
01:23 — “In 2025, revenue rose to more than $11.5 billion... the commerce platform’s revenue rose to $3.67 billion, exceeding analysts’ expectations...”
Julie Chang on NetEase and AI:
02:19 — “NetEase also signaled improving production efficiency, which its CEO credits to the application of AI across its game development.”

Timestamps for Important Segments

00:29 — Ford’s quarterly and annual financial results, EV business outlook
01:17 — Shopify’s Q4 and annual results, market trends
01:55 — NetEase’s profits, revenue growth, and AI-driven improvements

Tone and Style

Julie Chang delivers the updates in the Wall Street Journal’s classic, concise, and fact-driven tone, focusing on financial performance and sector trends.
Emphasis throughout is on the intersection of technology, business performance, and market expectations.

Summary

This episode distills the major financial and technological shifts at Ford (rooted in its electric vehicle segment), Shopify (driven by strong revenue and e-commerce growth), and NetEase (underlining AI’s rising role in operations). Despite disparate challenges—from persistent losses to slowed profits—each company’s story hints at the broader forces reshaping the tech and automotive landscapes in 2026.

Transcript

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Julie Chang (0:29)

Here's your morning TNB Tech minute for Wednesday, February 11th. I'm Julie Chang for the Wall Street Journal, Ford Motor posted its largest ever quarterly loss of about $11 billion, mainly related to charges in its electric vehicle business. Ford expects to continue to lose money on EVs until 2029. The automaker also reported an annual net loss of more than $8 billion on alongside spending approximately $2 billion on tariffs last year, with similar expenses projected for 2026. Despite these massive financial hits, Ford's overall results surpassed market expectations. The automaker forecasts improved cash flow this year, plus narrower EV losses. Shopify expects revenue growth in the first quarter of 2026, extending the momentum it saw in the fourth quarter. In 2025, revenue rose to more than $11.5 billion, representing a jump for the fourth quarter. The commerce platform's revenue rose to $3.67 billion, exceeding analysts expectations, and its gross merchandise volume climbed to nearly $124 billion. Despite the strong revenue, the company posted a lower net income of $743 million and its stock has recently fallen alongside other software names amid Investor concerns around AI and Chinese video game giant NetEase reported a 29% drop in fourth quarter net profit to just under $903 million, missing analysts expectations. Revenue rose 3%, roughly in line with market expectations, though that growth was slower than the second and third quarter. The company attributed its revenue uptick to strong performance from self developed games. NetEase also signaled improving production efficiency, which its CEO credits to the application of AI across its game development and and that's your TMB Tech Minute. We'll be back this afternoon with more.

Miriam Gottfried (2:28)

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