Apple, Facebook and Alibaba have continued to exceed market expectations by reporting stellar revenue and earnings growth in the third quarter of 2017.
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In Part 2 of our earnings updates for the global tech giants, we review the results of Apple, Facebook and Alibaba. This follows from Part 1 published last week where we saw Amazon, Alphabet (Google’s parent) and Microsoft all topping analysts’ consensus expectations for both revenue and profits in the 3rd Quarter 2017 earnings season.
Apple blew past analysts’ expectations in 4Q 2017, delivering revenue of US$52.6 billion (up 12%) and net profit of US$10.7 billion (up 19%) as the newly launched iPhone 8 became a surprise best-seller, Apple’s service business continued to blossom and sales in mainland China returned to growth. Learn more about the results.
Facebook also greatly exceeded market expectations in 3Q 2017, delivering revenue of US$10.3 billion (up 47.3%) and net profit of US$4.7 billion (up 80%) as the social media giant reported strong growth in its mobile advertising business and growth in overall users. Learn more about the results.
Alibaba shot the lights out in 3Q 2017, as the online marketplace reported sales of US$8.3 billion (up 61%) and earnings of US$2.4 billion (up 98%), largely driven by its core e-commerce business and a doubling of its cloud computing revenue. Learn more about the results.
At the time of writing, some of AtlasTrend managed funds own shares in Apple, Alibaba and Facebook.
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