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The big 4 tech companies — Amazon, Apple, Facebook, and Google, worth $5 trillion combined — just crushed their earnings reports

All four tech companies reported better-than-expected earnings.

Article originally published by Business Insider. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

  • Apple, Alphabet, Amazon, and Facebook all reported their second-quarter earnings on Thursday.
  • These four, along with Microsoft, are the five most-valuable publicly traded companies on the S&P 500.
  • These earnings reports come one day after the CEOs of Apple, Alphabet, Amazon, and Facebook testified before the House Judiciary's antitrust subcommittee over possible anticompetitive behavior.
  • All four tech companies reported better-than-expected earnings.

Facebook

Facebook beat Wall Street estimates for daily active users and reported double-digit revenue growth year-over-year, sending its stock soaring 8% in after-hours trading.

Here are the key numbers, as well as Wall Street estimates, via Bloomberg:

  • Revenue: $18.69 billion, up 11% year-on-year ($17.31 billion expected)
  • Earnings Per Share (EPS) GAAP: $1.80 ($1.39 expected)
  • Daily Active Facebook Users: 1.79 billion, up 12% year-on-year (1.74 billion expected)
  • Monthly Active Facebook Users: 2.7 billion, up 12% year-on-year (2.63 billion expected)

Rob Price

Amazon

Amazon blew past Wall Street estimates, with $88.9 billion in sales last quarter, but fell short on growth with Amazon Web Services. Amazon stock was up by as much as 6% in after-hours trading.

  • EPS (GAAP): $10.30 versus expectations of $1.50 per share
  • Revenue: $88.9 billion versus expectations of $81.24 billion
  • AWS: $10.81 billion versus expectations of $11.01 billion

Eugene Kim

Apple

Apple exceeded Wall Street estimates for its fiscal third quarter. Apple's stock was up 5% and passed $400 per share for the first time in after-hours trading.

  • Q3 revenue: $59.7 billion. Analysts were expecting $52.3 billion. In the same quarter one year ago, Apple posted revenue of $53.8 billion.
  • Q3 earnings per share (GAAP): $2.58. Analysts were looking for $2.07. In its third-quarter of 2019, Apple earned $2.18 a share.
  • iPhone revenue: $26.4 billion, up 1.7% from $25.9 billion in its fiscal third-quarter 2019.
  • Services revenue: $13.1 billion. Apple's revenue segment generated $11.5 billion in the same period last year.
  • Wearables revenue: $6.4 billion. Apple posted $5.5 billion in revenue for its wearables business in last year's third quarter.

Lisa Eadicicco

Alphabet

Google parent company Alphabet reported revenue of $31.6 billion minus traffic acquisition costs, a decline of roughly 2% year-over-year. This is the first time in its trading history that it reported an annual decline in revenue, first reported by CNBC. Still, it beat Wall Street estimates.

  • Revenue: $31.6 billion (minus traffic acquisition costs), vs expectation of $30.5 billion.
  • EPS (GAAP): $10.13, vs expectation of $8.27.
  • Net Income: $6.96 billion.
  • Google Cloud revenue: $3.01 billion.
  • YouTube ad revenue: $3.81 billion.

Hugh Langley


This article was written by Graham Starr from Business Insider and was legally licensed through the Industry Dive publisher network. Please direct all licensing questions to legal@industrydive.com.

Article originally published by Business Insider. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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