🏠 Big Tech Earnings SZN (Again)
Apple, Meta, and Coinbase
Gm. I changed my X profile picture. Drippy or nah?
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Big Tech Checks In (Again)
If this article seems familiar, that’s because I wrote something similar last week for Microsoft, Snap, and Alphabet.
But today’s a new day with new information. Specifically, earning reports from tech giants Apple, Meta, and Coinbase.
So, here’s big tech checks in, the remix.
Apple’s earnings were a mixed bag:
Revenue of $89.5B vs $89.28B expected.
EPS of $1.46 vs $1.39 expected.
iPhone revenue of $43.81B vs $43.81B expected.
Mac revenue of $7.61B vs $8.63B expected.
iPad revenue of $6.44B vs $6.07B expected.
When you combine the facts that sales dropped for the 4th quarter in a row, the Mac just isn’t selling like it used to, and Apple forecasted a weak next quarter, then you end up with shares dropping over 3% in extended trading, even with the revenue beat.
While the boys in Cupertino ride the struggle bus a bit, the fightin’ Zucks are digging themselves out of the grave:
Revenue of $34.15B vs $33.56B expected.
EPS of $4.39B vs $3.63B expected.
DAU, MAU, and ARPU (Average Revenue Per User) all meeting or exceeding expectations.
With revenue increasing 23%, it’s Meta’s fastest growth quarter since 2021. However, it’s not all sunshine. Reality Labs, Meta’s VR department, lost $3.74B, bringing its losses to $25B since the start of last year, and the forecast for next quarter is a bit weak due to anticipated ad softness in the Middle East.
The US’s flagship crypto exchange logged a decent quarter:
Revenue of $674.1M vs $650.9M expected.
EPS of -$0.01 vs -$0.55 expected.
Trading volume of $76B vs $80.1B expected.
Transaction revenue of $288.6M, down 12% from the $327M the previous quarter.
Basically, Coinbase is absolutely raking it in on stablecoin interest earnings, which have enabled it to beat revenue expectations even with trading volume declining. Whenever that trading volume goes back up…sheeeesh.
The Big Picture: We still have a long way to go to reach 2021 highs, but things are moving in the right direction.
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Stat: $1.4B: How much Amazon made off “Project Nessie”, its price-raising algorithm. For that much profit, I might have done the same.
Rabbit hole: The People Who Ruined The Internet (The Verge)
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🎁 FINAL JEOPARDY!
This Final Jeopardy! question stumped every contestant. Can you get it right?
Category: Name’s The Same
Clue: This first name is shared by a character introduced in 1941 and a member of royalty who is sixth in line to the British throne.
💉 DOPAMINE HIT
Lord bring me back as a boomer.
#fyp #foryou #dadsoftiktok #viral #boomers #makemoney #richboomers #funny
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