Morning Tech Crawl: Earnings are out, and rocky so far

Good morning, Austin! It's earnings time, and the results from tech companies so far have been mixed. Here's what's happening:

The streaming video service said subscriptions worldwide will grow at a slower pace than the Street expected this quarter, and shares got pummeled in response. The company, known for original shows like "Orange is the New Black" and "House of Cards," said it expects to add 2 million subscribers, while analysts were expecting 3.5 million. Shares tumbled 8 percent in after hours trading, and we'll see what happens today.

Big Blue reported its worst quarterly revenue in 14 years, as emerging businesses including cloud and mobile computing failed to offset hits in its traditional businesses. Analysts say the move to those areas, as well as security software and data analytics, isn't enough yet to make up for the falloff in its old school hardware business.  

When Facebook acquired Instagram in 2012, it was a startup with 30 million users. Today, monthly active users have rocketed to 400 million, exceeding that of Twitter. According to a new report by Credit Suisse Group AG, Facebook will get more than triple the $1 billion it paid in revenue this year alone. And the photo-sharing app is well positioned for more revenue growth: with ads and video becoming more intertwined than ever, Instagram could become a new platform for TV commercials, according to the Bloomberg report.