Written by Alexander Besant
After Wednesday’s grilling of its CEOs by Congress, Big Tech quickly has reason again to celebrate. The stocks of Apple, Amazon, Facebook and Google parent Alphabet jumped Thursday after reporting earnings that exceeded Wall Street’s expectations. Here’s how the tech giants fared:
- Apple announced a 4-for-1 stock split (the company’s fifth split since it went public) and posted historic quarterly revenue, despite disruptions from the global pandemic.
- Amazon reported profit of $5.2 billion — a quarterly record — and a 40% jump in sales from a year earlier.
- Facebook shattered analyst expectations for revenue growth (despite being its slowest on record).
- Alphabet reported its first-ever revenue decline as its ad business was disrupted, but the results still beat analyst estimates.
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