Big Tech Earnings Report: How Apple, Google, and Amazon Performed

PHOTO BY COTTONBRO STUDIO ON PEXELS

Big Tech’s latest earnings reports grabbed headlines this quarter, showcasing how titans like Apple, Google, and Amazon navigated the market landscape.

Investors were particularly interested in Apple’s innovation, Google’s ad revenue trends, and Amazon’s continued growth in e-commerce. The results reveal much about their strategies and how they plan to tackle upcoming challenges.

Revenue and Profit Trends

In the latest earnings report, Apple, Google, and Amazon showcased varying profit trends.

In a November tweet, Apple reported a net income of $94 billion, though it declined 3% year-over-year. Google earned $94 billion, reflecting a strong 41% growth, driven by advertising and cloud services.

Amazon saw $50 billion in profit, marking an impressive 148% increase, fueled by AWS and cost efficiencies.

Check out the tweet below for these companies’ net income:

This is remarkable.

The giants of the U.S. economy are absolute cash machines.

Here’s their TTM net income (and Y/Y growth):

📱 $AAPL: $94B (-3%)
💾 $NVDA: $63B (+234%) 🚀
☁️ $MSFT: $91B (+17%)
📦 $AMZN: $50B (+148%)
🔎 $GOOG: $94B (+41%)
💬 $META: $56B (+87%)
⚡️ $TSLA: $13B… pic.twitter.com/97B2HjvFVC
— Carbon Finance (@carbonfinancex) November 23, 2024

These figures highlight how each company is navigating different growth trajectories in the evolving tech landscape.

Key Drivers Behind the Numbers

Apple, Google, and Amazon’s earnings reveal several key factors influencing their performance.

Check out the tweet below. It shows that Apple reported record quarterly revenue of $94.9 billion, surpassing expectations. iPhone sales grew 5.5% year-over-year to $46.2 billion, while services revenue increased 12% to $25 billion.

BREAKING: Apple stock, $AAPL, falls despite reporting record quarterly revenue of $94.9 billion.

Revenue topped expectations of $94.5 billion and the company also reported EPS of $1.64, above expectations of $1.48.

iPhone revenue grew 5.5% over the last year, to $46.2 billion,… pic.twitter.com/vrakdyvgS9
— The Kobeissi Letter (@KobeissiLetter) October 31, 2024

Despite beating earnings estimates, Apple’s stock fell, reflecting market concerns.

Google benefited from increased ad revenue, while Amazon’s cloud services and online shopping demand fueled growth. Economic factors and competition continue to shape their strategies.

Market Reaction and Future Outlook

Looking ahead, investors are watching how Big Tech navigates evolving market trends.

Amazon plans to spend $100 billion in capital expenditures, primarily for AI and AWS expansion, signaling its long-term growth strategy. Watch the video below for more on this:

Google is also ramping up AI investments, aiming to strengthen its cloud and ad business.

Meanwhile, Apple expects increased demand for upcoming products, particularly in services and hardware. Analysts remain cautiously optimistic, noting that innovation and strategic spending will play key roles in shaping future earnings.