Facebook, Amazon, Apple, Google & Twitter post quarterly earnings
Twitter, Facebook, Amazon, Apple and Google posted their quarterly earnings. Twitter added 20 million new users in Q2 and but just 1 million new users in Q3. Their user base in the USA and Canada fell to 196 million from 198 million last quarter in the USA and Canada. Apple’s Q4 slightly exceeded market expectations. iPhone revenues were down by 20.7% but iPad revenues were up 46% YoY. Together, Alphabet, Amazon, Apple & Facebook reported a quarterly net profit of $38 bn. The big tech companies results were strong despite increasing antitrust scrutiny from regulators. Here’s Rishabh Chakravorty with a sharing the salient points from the quarterly results of the FAANG companies.