Reports of economic balances of the main technology companies continue to arrive. Now comes the turn of Apple and Amazon.
While Apple posted a lower-than-expected decline in profit, Amazon reported growth above expectations for the latest quarter.
Apple’s third-quarter profit fell, but less than analyst projections
For the April-June quarter, Apple’s profit was down 10%, while its revenue was up 2%. Both figures were better than what was projected by analysts and what was warned by the same company.
Apple had already warned that its revenue would be reduced by up to 8,000 million dollars due to problems in its supply chain. This situation was exacerbated by pandemic-related closures at Chinese factories that make iPhones and other Apple products.
Earnings fell to $19.4 billion, leaving a price of $1.20 per share, while the company’s revenue rose to nearly $83 billion. After being informed of these figures, Apple shares increased by 3%.
These results were boosted by the iPhone, which posted a 3% increase in sales over the same period last year, making this the seventh consecutive quarter that iPhone sales increased.
Increase in Amazon sales left a more successful quarter than expected
Amazon, the e-commerce giant, reported that its sales in the last quarter grew more than expected, even despite the harsh global economic context.
Amazon sales exceeded $121 billion in the quarter just closed. However, the company posted a $2 billion loss as it adjusted to control costs. In this period, its shares increased by 10% in value.
The threat of a recession, the current state of the dollar, shrinking ad budgets and inflation have put big tech companies on the spot lately. During the last few days, we have already learned about the cases of microsoft, google Y Goal, who have seen the difficult face of this period; as well as we knew the case of Spotifywhich makes happy accounts just like Amazon.
