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Big Tech earnings
How have these companies performed in the last quarter?
Many big names have released earnings recently, so today’s newsletter focuses on some Big Tech names: Amazon, Meta, and Apple. How have they been performing lately, and have they beat or missed estimates?
Amazon has had an impressive earnings result, especially when compared to Q3 of last year. Their revenue has increased 12.6% to $143.1B, and net profit a staggering 244% to $9.9B. The favourable results were down to improvements in cost and speed of delivery, growth stabilisation of AWS, and an increase in advertising revenue. They beat earnings estimates on both revenue and EPS by 1% and 60% respectively.
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Meta also beat earnings estimates for revenue and EPS by 2% and 19% respectively. Compared to last year, their revenue grew by over 23%, and net profit by an impressive 164%! The company have also undergone significant restructuring for greater efficiency, which included planned employee layoffs and data centre restructuring initiatives.
Apple beat revenue estimates by only 0.09%, and in fact compared to last year their sales have actually decreased by 0.7%. On the other hand, they beat EPS estimates by 4.75%, and did manage an increase of 10.8% compared to last year. Furthermore, they did achieve an all-time revenue record for their services segment as well as a new all-time high for active installed base of devices across all geographic segments and products.
Created by Amara
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