The world’s largest technology companies have continued to outperform with Amazon, Alphabet (Google’s parent) and Microsoft all topping analysts’ consensus expectations for both revenue and profits in the 3rd Quarter 2017 earnings season.
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Amazon’s stock price rose well above US$1,000 and to a record high after reporting 3Q 2017 results that topped consensus analysts’ estimates with year on year revenues growth of 34% to US$43.7 billion and net income of US$256 million, driven by all-time record sales during its Prime Day promotion in July and growing demand for its cloud services.
Amazon dominates e-commerce in the U.S with its $99 Amazon Prime subscription, which includes video streaming, music, delivery discounts and is intended to keep shoppers returning regularly to its website. Learn more about the results.
Alphabet (Google’s parent)
Alphabet, the parent company of Google topped Wall Street expectations with 3Q 2017 revenue growth of 23.7% to US$27.8 billion and earnings growth of 24.4% to US$6.8 billion, driven largely by advertising revenues (up 21% to $US24.1 billion). Learn more about the results.
Microsoft reported 3Q 2017 results that also topped analysts’ estimates as demand for its cloud computing services rose and its personal computer software business stabilised. The technology company reported revenue growth of 11.9% to US$24.5 billion with earnings growth of 25.3% to US$6.2 billion. Learn more about the results.
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