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NVIDIA Corporation is now seen as the leader in the tech sector, overshadowing other previously dominant players like Tesla Inc., Apple Inc., Meta Platforms, and Microsoft, as they struggle with earnings reports. This week, all four companies reported their Q3 earnings amidst a shift in investor sentiment towards AI-focused enterprises.
Meta Platforms
Meta reported a Q3 earnings-per-share of $7.14, a 38% increase, with revenue of $47.52 billion, exceeding analysts’ estimates of $5.90 per share and $44.84 billion. Ad impressions rose 11%, contributing to a forecasted revenue of $47.5 to $50.5 billion in Q3.
Microsoft
Microsoft’s Q4 revenue hit $76.4 billion, an 18% YOY increase, and earnings per share rose to $3.65. Notably, its Intelligent Cloud revenue totaled $29.9 billion, and Azure revenue grew by 39%. Microsoft also announced that its AI business’ annual revenue surpassed $13 billion, marking a 175% increase.
Amazon
Amazon reported Q3 earnings of $1.68 per share and revenue of $167.7 billion, both exceeding expectations. The advertising segment grew by 23% to $15.69 billion, but guidance for Q3 operating income disappointed analysts.
Apple
Apple’s Q3 earnings reached $1.57 per share on revenues of $94.04 billion, showing a year-over-year growth of 12%. However, CEO Tim Cook provided few details on AI advancements, which investors are keen to learn about.
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