Big Tech Earnings Updates

Dear investor,

The market has been incredibly volatile lately, experiencing significant ups and downs daily. What's driving this turbulence?

It's primarily due to earnings season, when companies announce their financial performance for the previous quarter and offer guidance for the upcoming quarters.

I've compiled earnings updates from major tech companies below. For more in-depth summaries and the latest news for various companies, visit EarningsHub.

1. Apple

Positives:

• Apple reported a new June quarter revenue record of $85.8 billion, a 5% increase from the previous year, surpassing expectations.

• Earnings per share (EPS) grew by double digits to $1.40, setting a record for the June quarter.

• Quarterly revenue records were set in over two dozen countries and regions, with an all-time revenue record in Services, which grew by 14%.

Stock Movement

2. Amazon

   Positives:

   • Revenue increased to $148 billion, up 11% year-over-year, excluding foreign exchange impacts.

   • Operating income rose significantly to $14.7 billion, up 91% year-over-year.

   • Trailing 12-month free cash flow adjusted for equipment finance leases was $51.4 billion, up 664% year-over-year.

   • AWS revenue growth accelerated from 17.2% in Q1 to 18.8% in Q2, with a strong demand for cloud services and AI

Stock Movement

3. Meta

   Positives:

   1. Strong quarter for community and business, with over 3.2 billion daily active users across Meta's apps.

   2. Significant growth in the U.S. market, particularly with WhatsApp reaching over 100 million monthly actives.

   3. Positive traction with young adults on Facebook, countering the narrative that younger users are abandoning the platform.

   4. Threads app approaching 200 million monthly actives

Stock Movement

For more updates, check out EarningsHub. 👇️ 

I hope you find this newsletter useful! Let’s improve and keep learning, so we can create greater wealth and happiness together! 😃 

Arigato!

Chloe
Arigato Investor