CNBC Daily Open: For Big Tech, Beating Earnings Expectations Is Not Enough
Three major core businesses working together, Amazon (AMZN.US) Q3 performance exceeds expectations.
Amazon (AMZN.US) announced strong third-quarter performance in post-market trading on Thursday.
Amazon's Q3 revenue and profit exceeded expectations due to the growth of cloud computing and advertising business.
Due to the growth in cloud computing and advertising business, amazon's revenue and profit in the third quarter exceeded expectations. The stock price slightly rose in after-hours trading. The company's third-quarter revenue was $158.88 billion, compared to market expectations of $157.2 billion. The profit was $1.43 per share, while the market expected $1.14 per share. In the cloud computing sector, Amazon Web Services (AWS) revenue was slightly below market expectations but grew faster than the same period last year. Sales increased by 19% this quarter, compared to a mere 12% growth in the same period last year. Last year, due to customers cutting budgets due to economic concerns, the company's cloud business growth was affected.
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Apple's sales in the fourth quarter increased by 6%, paying $10.2 billion in taxes to Europe.
Apple's fourth-quarter financial report released exceeded Wall Street's expectations for revenue and earnings per share. However, due to a one-time expense in Europe, the net income saw a sharp decline. Apple's stock price fell 2% in extended trading on Thursday. Here is a comparison of Apple's quarterly performance as of September 28th with the general expectations of LSEG: Earnings Per Share: Adjusted $1.64, expected $1.60 Revenue: $94.93 billion, expected $94.58 billion iPhone Revenue: $46.22 billion, expected $45.47 billion Mac Revenue: $7.74 billion.
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Investor Randy : It’s still the best stock
黑客淘金者 : Because today is Black Friday🫥
Ealrion : short volume was high