🏠 Big Tech Earnings SZN

Meta, Apple, Amazon, and Alphabet

Gm. Happy Vision Pro launch day. I’ll probably wait till like the 3rd generation to cop, but to those of you who are getting one, please let me know what you think!

🏠 TECH

Meta, Apple, Amazon, and Alphabet Report

It’s that time of the quarter: big tech earnings season.

Today, we got reports from Meta, Amazon, Apple, and Amazon.

Meta

  • Revenue of $40.1B vs $39.18B expected, which is up 25% YoY.

  • Advertising revenue of $38.7B vs $37.8b expected.

  • 2.11B Facebook daily active users (wow) vs 2.07B expected.

As a reward for their efforts, Meta’s stock rose 15%, and they authorized a $50B stock buyback and their first-ever $0.50 per share quarterly dividend.

The only negative was that their VR unit lost another $4.65B. Let’s see if the Vision Pro can start to turn that around.

Apple

Speaking of the Vision Pro, Apple also logged a decent quarter:

  • Revenue of $119.58B vs $117.91B expected, their first revenue growth in a year.

  • iPhone revenue of $69.70B vs. $67.82B expected.

  • Mac revenue of $7.78B vs. $7.73B expected.

  • iPad revenue of $7.02B vs. $7.33B expected.

Besides the obvious miss in iPad revenue (which is to be expected with no new models being released last year), the other concerning data point is a 13% decline in sales in China.

That decline led to a 4% decline in after-hour Apple stock, even with the revenue beat.

Amazon

Amazon put in a very good quarter:

  • Revenue of $170B vs $166.2B expected, which was driven by a record holiday season.

  • AWS revenue of $24.2B vs $24.2B expected.

  • Advertising revenue of $14.7B vs $14.2B expected.

Wall Street recorded the company with an 8% climb in extended trading.

Alphabet

Let’s close things out with Alphabet, shall we:

  • Revenue of $86.31B vs $85.33B expected.

  • Google Cloud revenue of $9.19B vs $8.94B expected.

  • Advertising revenue of $65.52B vs $65.94B expected.

Unfortunately, that miss in advertising revenue led to a 6% drop in Alphabet stock this week.

The Big Picture: It looks like the “Year of Efficiency” worked. Let’s see what they can do this year in seemingly more favorable conditions.

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