It’s time for the big tech companies to announce their most recently quarterly earnings, and the news is music to the ears of Wall Street, shareholders, and any execs that have profit sharing.
Apple crushed Wall Street expectations, as every single major product line grew over 12%.
iPhones were the biggest sellers, with sales increasing nearly 50% on an annual basis.
Typically, the quarter ending in June is one of Apple’s slowest of the year, but thanks to so many people working from home and kids doing remote schooling, sales skyrocketed, especially premium computers.
The highlight from Alphabet’s earnings call was YouTube revenue coming in over $7 billion, which is up a staggering 83% from a year ago.
Google ad revenue increase almost 70% to $50.44 billion, and the stock price rose 4% Tuesday thanks to this good news.
Microsoft had more of a good news, bad news situation to report.
Their cloud revenue was up 30% to $17.38 billion. Overall revenue was at $46.15 billion.
Despite good earnings news, the stock price fell 3% though because revenue of their device makers dropped.