Tech Earnings

Market Overview
Read time 0.6 minutes

Year To Date Performances:

1. Alphabet ($GOOGL) reported impressive earnings, beating expectations with $1.44 EPS and $74.6 billion in sales. Total revenue grew 7%, driven by a substantial 28% increase in cloud services. Despite an industry-wide slowdown, their ads business demonstrated resilience, posting better-than-expected revenue.

2. Microsoft ($MSFT) also delivered strong results, surpassing estimates with $2.69 EPS and $56.19 billion in sales. While Azure revenue growth slightly slowed to 26% YoY from 27%, total revenue still increased by 8%. However, their guidance for the current quarter fell below analysts' estimates, implying an 8% increase, which would be the 4th consecutive quarter of sub-10% growth.

3. Meta ($META) showed robust performance with $2.98 EPS and $32 billion in sales, both exceeding expectations. The company experienced growth across daily active users (DAUs), monthly active users (MAUs), and average revenue per user (ARPU). Additionally, Meta's current quarter revenue guidance is above analysts' estimates, indicating a promising 15% YoY growth outlook.

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5. Headlines

   1. ECB increased interest rates by 0.25% to 3.75%.

   2. Chinese EV companies are starting to plan their strategic entry into the US market.

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