šŸ  Big Tech Earnings SZN

Meta, Apple, Amazon, and Alphabet

Gm. Happy Vision Pro launch day. Iā€™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!

šŸ  TECH

Meta, Apple, Amazon, and Alphabet Report

Itā€™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, Metaā€™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. Letā€™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

Letā€™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 ā€œYear of Efficiencyā€ worked. Letā€™s see what they can do this year in seemingly more favorable conditions.

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