Meta, Amazon beat expectations with stellar results
10 months, 3 weeks ago

Meta, Amazon beat expectations with stellar results

Live Mint  

Meta and Amazon on Thursday blew through expectations in their latest quarterly results as Big Tech continued to impress Wall Street. Meta, the tech titan behind Facebook and Instagram, reported a profit of $14 billion in the final three months of last year, beating analyst forecasts as revenue climbed to $40.1 billion in the quarter. Facebook changed its parent company name to Meta in late 2021, due to Zuckerberg's yet to be proven vision of virtual worlds referred to as the "metaverse" being the next major computing platform. "The 'Year of Efficiency' has paid off, with both headcount and costs dropping, and Meta exceeding our expectations for full-year 2023 ad revenue," said analyst Jasmine Enberg of Insider Intelligence. Much like Meta, the company founded by Jeff Bezos is also expanding into AI and on Tuesday said it was testing a chatbot named Rufus that would provide shopping tips to US mobile app customers.

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History of this topic

Amazon's Profit Margins Take a Hit as AI Spending Soars
1 month, 3 weeks ago

Amazon's Profit Margins Take a Hit as AI Spending Soars

Live Mint  

Amazon's third-quarter report shows strong revenue growth, despite spending heavily on artificial intelligence. The company reported an eye-popping $22.6 billion in capital expenditures, a new high and an 81% jump year-over-year. Despite the spending, Amazon's operating profit came in at $17.4 billion, nearly 19% above analysts' projections. The company's share price jumped more than 5% in after-hours trading Thursday.

Meta Reports Strong Q3 Results with Record Revenue and Net Income
1 month, 3 weeks ago

Meta Reports Strong Q3 Results with Record Revenue and Net Income

China Daily  

Meta Platforms reports strong financial results for the third quarter, with revenue and net income increasing year-on-year. The company's family daily active people (DAP) also increased, indicating strong user growth. Meta expects fourth quarter 2024 revenue to be in the range of $45 billion to $48 billion, with full-year 2024 expenses in the range of $96 billion to $98 billion. …

Amazon reports boost in quarterly profits but misses revenue estimates
4 months, 3 weeks ago

Amazon reports boost in quarterly profits but misses revenue estimates

The Hindu  

Amazon reported a boost in its quarterly profits Thursday, but the company missed revenue estimates, sending its stock lower in after-hours trading. Amazon also said it expects revenue for the current quarter, which ends September 30, to be between $154 billion and $158.5 billion — lower than the $158.22 billion forecast by analysts. The company said Thursday that Amazon Web …

Amazon reports boost in quarterly profits but misses revenue estimates
4 months, 3 weeks ago

Amazon reports boost in quarterly profits but misses revenue estimates

Associated Press  

Amazon reported a boost in its quarterly profits Thursday, but the company missed revenue estimates, sending its stock lower in after-hours trading. Amazon also said it expects revenue for the current quarter, which ends Sept. 30, to be between $154 billion and $158.5 billion — lower than the $158.22 billion forecast by analysts. The company said Thursday that Amazon Web …

Meta reports revenue jump as Zuckerberg sees stock volatility over AI plans
7 months, 4 weeks ago

Meta reports revenue jump as Zuckerberg sees stock volatility over AI plans

The Hindu  

Meta on Wednesday reported quarterly revenue of $36.46 billion, up by 27%, when compared to last year, as CEO Mark Zuckerberg hailed the company’s AI product releases and stressed on his aim to share them with more customers and begin monetising the offerings. Zuckerberg pointed out that the new Meta AI chatbot, powered by the company’s open source and most …

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day
7 months, 4 weeks ago

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day

Daily Mail  

Meta shares crashed in after-hours trading Wednesday after the company warned profits will slip over the summer. Meta says it will see second quarter revenue between $36.5 and $39 billion. Shares were also hit after Meta said it expects overall expenses this year to be higher than it previously forecast - as the Facebook parent spends heavily to roll out …

Amazon and Meta—Nothing Artificial About These Results
10 months, 3 weeks ago

Amazon and Meta—Nothing Artificial About These Results

Live Mint  

The e-commerce titan and social networking giant both posted strong fourth-quarter results late Thursday. The two beat Wall Street’s consensus targets for both revenue and operating income by wider margins than Microsoft and Google-parent Alphabet did with their respective December quarter reports earlier in the week. The company did manage to beat Wall Street’s projections for its all-important iPhone revenue, …

Amazon and Meta surge after results, while Apple drops
10 months, 3 weeks ago

Amazon and Meta surge after results, while Apple drops

The Hindu  

Meta Platforms and Amazon.com added a combined $280 billion in stock market value late on Thursday after the Big Tech duo reported quarterly results that impressed investors, while Apple's value shrank by $70 billion after its results. Investor optimism about generative AI drove rallies in the U.S. stock market's most valuable companies last year, with many hitting all-time highs in …

Amazon posts strong revenue and profits, says it’s in ‘best position’ it’s ever been before holidays
1 year, 1 month ago

Amazon posts strong revenue and profits, says it’s in ‘best position’ it’s ever been before holidays

Associated Press  

NEW YORK — Amazon on Thursday reported strong revenue and profits from the summer months driven by growth in online sales and its advertising business. “We’re ready to make this a great holiday season for customers,” Olsavsky said, adding Amazon’s operations network and inventory are in the “best position” its ever been heading into the holiday season. Aside from the …

Meta reports “good” quarter after revenue growth, launch of Threads and AI products
1 year, 1 month ago

Meta reports “good” quarter after revenue growth, launch of Threads and AI products

The Hindu  

Meta CEO Mark Zuckerberg noted a “good quarter” for the company’s community and business as the social media giant reported revenue growth of 23% year-over-year to reach $34.15 billion. Zuckerberg earlier announced that 2023 would be Meta’s year of “efficiency” and the company proceeded to lay off hundreds of workers across its tech and business divisions. “I’m proud of the …

Amazon reports better-than-expected revenue and profits for 2Q, sending its stock higher
1 year, 4 months ago

Amazon reports better-than-expected revenue and profits for 2Q, sending its stock higher

Associated Press  

NEW YORK — Amazon on Thursday posted better-than-expected revenue and profits for the second quarter, sending its stock higher in after-hours trading. Jassy said growth in the cloud business, which had slowed since last year as companies cut back on costs, “stabilized as customers started shifting from cost optimization to new workload deployment.” AWS grew by 12%, slower than 16% …

Amazon Q1 Earnings Beat Estimates Despite Layoffs, Shares See 11 Per Cent Gain
1 year, 7 months ago

Amazon Q1 Earnings Beat Estimates Despite Layoffs, Shares See 11 Per Cent Gain

ABP News  

Amazon's shares experienced an increase of more than 11 per cent following the announcement of first-quarter earnings that exceeded industry estimates. Amazon's AWS cloud unit, which has maintained its lead in the market for over 15 years, experienced a slower growth of 16 per cent during the first quarter compared to the 37 per cent reported in the previous year. …

Meta posts upbeat outlook, plans $40 billion buyback
1 year, 10 months ago

Meta posts upbeat outlook, plans $40 billion buyback

Live Mint  

BY SALVADOR RODRIGUEZ | UPDATED 2月 01, 2023 06:12 晚上 EST Social-media giant plans to buy back additional $40 billion in shares, says its costs are set to decline and its global users increased Facebook parent Meta Platforms Inc. reported improving conditions in its underlying business and said it would buy back an added $40 billion in shares, a turnabout …

Meta posts lower Q4 profit, announces huge stock buyback
1 year, 10 months ago

Meta posts lower Q4 profit, announces huge stock buyback

Associated Press  

SAN FRANCISCO — Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. But the company’s stock soared in extended trading, as its revenue beat Wall Street’s muted expectations and the Menlo Park, California-based company announced a $40 billion stock buyback. Meta’s …

Amazon posts weaker-than-expected 3Q revenue, stock tumbles
2 years, 1 month ago

Amazon posts weaker-than-expected 3Q revenue, stock tumbles

Associated Press  

NEW YORK — Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after-hours trading due to weaker-than-expected revenue and disappointing projections for the current quarter. The company on Thursday reported revenue for the three months that ended Sept. 30 of $127.1 billion, boosted by Amazon’s Prime Day, a major sales …

Amazon posts 2Q loss but revenue tops estimates, stock jumps
2 years, 4 months ago

Amazon posts 2Q loss but revenue tops estimates, stock jumps

Associated Press  

NEW YORK — Amazon on Thursday reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher. It posted a loss of $3.84 billion in this year’s first quarter, its first quarterly loss since 2015, which was also marked by a large Rivian write-down. Some analysts estimate the company generated roughly $4.6 billion in …

Amazon reports strong 4Q results despite supply-chain snags
2 years, 10 months ago

Amazon reports strong 4Q results despite supply-chain snags

Associated Press  

NEW YORK — Amazon reported Thursday that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labor shortages. “As expected over the holidays, we saw higher costs driven by labor supply shortages and inflationary pressures, and these issues persisted into the first quarter …

Amazon surpasses $100B in quarterly revenue for 1st time
3 years, 10 months ago

Amazon surpasses $100B in quarterly revenue for 1st time

India TV News  

After Apple, Amazon became the second US tech company to log its largest quarter by revenue of all time at $125.56 billion, as online shopping broke all records in the holiday quarter amid the Covid-19 pandemic. Amazon also announced that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy, CEO …

Amazon trounces earnings estimates despite spending $4 billion on coronavirus measures
4 years, 4 months ago

Amazon trounces earnings estimates despite spending $4 billion on coronavirus measures

CNN  

New York CNN Business — Amazon’s revenue during the three months ended in June blew away Wall Street projections, as the company continued to experience a surge in demand due to the coronavirus pandemic. “This was another highly unusual quarter, and I couldn’t be more proud of and grateful to our employees around the globe,” said Amazon CEO Jeff Bezos …

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