Apple Q4 Earnings
Apple Inc on Thursday released its financial results for the fourth quarter, reporting an 8% growth in revenues to hit $64.7 billion.
Net income declined 7% year on year to $12.7 billion.
The company said it had delayed its iPhone sales due to the coronavirus pandemic. iPhone sales dropped from $33.4 billion in the last quarter of 2019 to $26.4 billion.
In the entire fiscal 2020, Apple’s total net sales rose by 5.5% year on year to $274.5 billion. In the same period, net income was up 3.9% to $57.4 billion.
Facebook Q3
Facebook’s revenue beat the expectations by surging 22% in the third quarter to hit $21.47 billion.
Net income rose 29% to $7.85 billion. The number of both daily and monthly Facebook users increased by 12% to hit 1.82 billion and 2.74 billion, respectively.
Twitter Q3
Twitter’s third-quarter revenue was up 14% to $936.2 million with monthly daily average users increasing by 29% to 187 million.
Net income declined by 21.5% during the period to $28.6 million.
Amazon Q3
Amazon.com Inc. on Thursday released its third-quarter financials with net income increasing by 197% to $6.3 billion compared to 2019’s $2.1 billion. Net sales rose 37% higher at $96.1 billion, operating cash flow rose 56% to $55.3 billion.
Free cash flow climbed to $29.5 billion in the same period.
For the fourth quarter, the e-commerce giant expects net sales to come in at between $112.0 billion and $121.0 billion, which would represent a 28% and 38% growth versus Q4 2019.
Alphabet’s Q3
Google‘s parent firm Alphabet Inc. on Thursday announced its financials for the third quarter of 2020 with its revenue increasing by 14% to $46.2 billion.
Net income rose by 59% to $11.25 billion.
