Big Day of Earnings for Tech Giants

October 26, 2017
Updated 7mo ago
After the bell, Alphabet, Microsoft, Amazon, and Intel all reported earnings, and it was a good day to be a tech giant overall. Jason Abbruzzese, business reporter at Mashable, joined Cheddar to break down all the earnings and what these numbers mean for the four tech companies. Amazon beat expectations for both revenue and earnings per share. Earnings per share reported at $0.52 versus the expectation of $0.03. Revenue came in at $43.7 billion versus the estimate of $42.14 billion. The third quarter is always a spend-heavy time for the online retail giant as it preps for holiday sales and an increased staff. Alphabet, also just referred to as Google, beat on earnings as well. Earnings per share came out to $9.57 versus estimates of $8.33 and revenue came in at $27.77 billion above estimates of $27.20 billion. Investors had their eyes on aggregate paid clicks, which were up 47%. This metric is big when it comes to Google because of the revenue it derives from search advertisements. Microsoft also had a successful earnings report. Earnings per share came in above estimates at $0.84 versus an estimate of $0.72, and revenue was reported as $24.5 billion versus estimates of $23.56 billion. Products and cloud services for Microsoft revenue also rose 17% in the ongoing cloud race between Microsoft and Amazon. Amazon Web Spaces had a reported revenue of $1.17 billion versus $861 million this time last year. And finally, Intel also had their time in the sun reporting earnings as well. And just like their tech neighbors on this market day, Intel beat estimates. Their reported earnings per share came in at $1.01 versus expectations of $0.80 and revenue was reported at $16.10 billion versus an expectation of $15.73 billion. Their data center group business accounted for $4.9 billion in revenue, which marks a 7% increase from this time last year, and their Internet of things group business took home $849 million in revenue, up 23% from this time last year.