The world's largest company, APPLE (APPL), reports second-quarter earnings on Thursday after the market close. “Despite COVID-19’s unprecedented global impact, we’re proud to report that Apple grew for the quarter, driven by an all-time record in Services and a quarterly record for Wearable’s,” said Tim Cook, Apple’s CEO. “
Facebook Inc. (NASDAQ: FB) released first-quarter earnings on Wednesday that boosted its stock up roughly 10% in after-hours trading. Facebook posted $17.7 billion in revenue for the first three months of the year, an 18% increase from the same period a year ago. Facebook now has 1.73 billion daily active users and 2.6 billion monthly active users, a year-over-year increase of 11% and 10%. The earnings reported US$1.71 per share, slightly lower than the US$1.74 predicted by analysts.
Alphabet, Google’s parent company reported Q1 earnings after the bell on Tuesday, beating analysts’ revenue expectations. The company has reported an increase of 13% in revenue for Q1 2020, $41.16 billion in compared with $40.3 billion expected. The earning per share reported $9.87 per share. Based on expectations, it was a miss on earnings.
HSBC Holdings (LON: HSBA) reported first-quarter earnings on Tuesday. The pre-tax profit falls 48% year-over-year in the first quarter to $3.2 billion. While revenue dropped by 5% to $13.686 billion, down from $14.4 billion in the same period last year.
Global stocks opened this week with a positive note after several countries planned to ease of coronavirus-led lockdowns. This week is one of the busiest weeks; the tech giants report their latest quarterly earnings. As we know this was one of the most interesting first quarters so we have to look at these results a little differently in the context of the COVID-19 outbreaks.