Amazon Posted Blowout Profits in Q2 2023 as Cost Cuts are Working
The tech giant reported its highest net income in over a year, boosted by cost saving efforts, while offering upbeat revenue guidance, helped by strong Prime Day sales
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The tech giant reported its highest net income in over a year, boosted by cost saving efforts, while offering upbeat revenue guidance, helped by strong Prime Day sales
There was uncertainty regarding GOOG.us financials with an initial negative perception about a slump in its digital ad market and its potential use of artificial intelligence. However, it released its Q2 earnings on 25 July, which showed that revenue had grown by 7% to $74.6bn. Its ad revenue grew by a modest 3.3% from a year before but was an improvement over Q1. Search revenue, which is most of its…
After the collapse of 2022, the social media giant turned things around with a series of initiatives and the stock benefits with a nine-month profitable streak – the longest since its 2012 IPO
The Facebook-parent company has been on a roll this year, with cost-cutting measures, renewed attention to AI and launch of a new platform and Wednesday’s Q2 results reinforced this narrative
The two rivals in the Artificial Intelligence (AI) arena reported overall strong results on Tuesday, although Microsoft’s forward guidance disappointed markets
The social media giant is having a very good year, with improved financials, cost cutting measures and a renewed focus on Artificial Intelligence. However, pitfalls still loom, ahead of the July 26 Q2 earnings
After last year’s adversities, the streaming giant changed key aspects of its business, with password sharing crackdown and the ad-supported tier, which boosted subscriptions and revenues according to Wednesday’s results
Microsoft (MSFT.us) jumped close to 4% in yesterday’s trade, reaching an all-time high after announcing its pricing strategy for a new artificial intelligence subscription service for Microsoft 365. The company said Microsoft 365 Copilot software will cost $30 per month, adding AI capabilities to Word, PowerPoint, Excel, Outlook and Teams.
Effectively we saw profits surging at JPMorgan Chase (JPM.us) and Wells Fargo (WFC.us) on Friday, posting profits of 67%and 57% respectively, in large part due to net interest income. Bank of America (BAC.us) kept up with the momentum yesterday, which saw profits increase by 19%.
The EV king releases its earnings for the second quarter on July 19, during which deliveries hit new records with the help of price cuts, but these had harmed its profits in the previous quarter
The streaming pioneer releases its latest quarterly results on July 19th and any insights around the progress on password sharing crackdown and the ad-supported tier will be welcome
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