Retail monster Amazon.com reported stronger March quarter revenue Thursday and raised guidance for Q2 sending the shares sharply higher. Amazon stock was trading at 118.19 ▲ 8.37 (7.62%) after the release. Earnings were 31 cents per share v 21 cents per share expected on revenue of $127.36 billion vs $124.71 billion expected. AWS generated operating income of $5.1 billion in the quarter, AWS determines the company’s profitability as total operating income rose to $4.77 billion. The markets were already bulled up after … Continue reading “Amazon Advertising and AWS Cloud Computing Drive Earnings Higher than Expectations”
Vicious Microsoft 20 percent Stock Gyrations After Lowers Cloud Guidance Reversing Gains to Losses
Software giant Microsoft stock took a whirlwind ride after it reported weaker than expected December 2022 (Q2 23) quarterly earnings Tuesday, with the market initially ignoring it on better cloud revenue (+38% constant currency vs +37% CC) However, that all fell apart after the earnings call. $MSFT lowered guidance, $50.5 billion to $51.5 billion in fiscal Q3 revenue vs analysts’ expectations for $52.43 billion. The stock gave back the entire initial earnings jump to go green to red, down over … Continue reading “Vicious Microsoft 20 percent Stock Gyrations After Lowers Cloud Guidance Reversing Gains to Losses”
Micron Lowers Guidance with Severe DRAM and NAND Supply and Demand Imbalance
Memory chip maker Micron reported lower fiscal first-quarter revenue, which dropped by nearly half to $4.09 billion as prices fall for both main types of memory, DRAM and NAND. MU reported a worse than expected net loss of $195 million for the quarter after the bell Wednesday. Revenue, margins and earnings were hit further by lower memory prices and industry oversupply that are driving the chipmaker’s grim outlook. Micron earnings have been drastically hurt by China weakness which is 30% … Continue reading “Micron Lowers Guidance with Severe DRAM and NAND Supply and Demand Imbalance”
Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal
Microsoft on Monday announced they are to acquire a 4% equity stake in the London Stock Exchange Group, which owns the London Stock Exchange. The deal is part of a ten-year commercial deal with the $LSEG to migrate the exchange operator’s data platform into the cloud. MSFT will enable digital transformation of LSEG’s technology infrastructure and Refinitiv platforms on to the Microsoft Cloud. Microsoft will buy LSEG shares from the Blackstone/Thomson Reuters consortium, the British exchange operator said. The transaction … Continue reading “Microsoft to Acquire 4% Stake in London Stock Exchange in Cloud Migration Deal”
Cloud Based Atlas Revenue Drives MongoDB Stock 27% Higher
Database software developer MongoDB shares soared 27% after announcing better than expected Q3 (Oct) earnings as the demand for NoSQL databases runs hot. $MDB also raised its FY23 earnings and revenue guidance. MongoDB’s revenue rose 47% year-over-year in the quarter that ended on Oct. 31, according to a statement. Its net loss widened to $84.8 million, compared with a net loss of $81.3 million in the year-ago quarter. MongoDB Q3 22 Earnings: Highlights “The strength in our business was driven … Continue reading “Cloud Based Atlas Revenue Drives MongoDB Stock 27% Higher”
Intel Earnings Beat Lowered Expectations and Announces $10 billion in Cost Cuts
Semiconductor giant Intel stock plunged after another dismal earnings report and guidance cut. INTC reported adjusted second-quarter earnings of 29 cents a share, compared with $1.36 a share from a year ago. Intel is the 2nd heaviest weight in the SMH ETF and had been bid up prior to the report after the passing of the CHIPS and Science Act aimed at boosting US chip production. The offers more than $52 billion for US chipmakers as well as tax credits for domestic … Continue reading “Intel Earnings Beat Lowered Expectations and Announces $10 billion in Cost Cuts”
More Tech Wreckage as Amazon Follows Meta Down After Misses on Revenue and Guides Lower
Retail monster Amazon.com reported weaker September quarter revenue Thursday and lowered guidance sending the shares sharply lower. Amazon stock was trading at $90.15 -20.81 or -18.75% after the release. The markets were already jittery after the META trainwreck the night before. Amazon recorded a $3.9 billion loss on its Rivian investment which led to a reported a loss of 20 cents per share on revenue of $121.23 billion vs. $119.09 billion expected. Amazon was the last of the mega-cap tech companies … Continue reading “More Tech Wreckage as Amazon Follows Meta Down After Misses on Revenue and Guides Lower”
Microsoft Reports Soft Cloud Growth and Windows Licenses Lowering Guidance
Software giant Microsoft reported stronger than expected June 2022 quarterly earnings Tuesday, both revenue and earnings beat expectations. However, MSFT warned for the coming quarter which saw the stock slide around 7%. Microsoft Cloud segment saw another slowdown, it had been MSFT’s robust engine with 50% or more year-over-year sales growth. Azure and other cloud services saw sales slowdown to 35% in the latest quarter. The software giant was also hit by revenue from sales of Windows licenses to device … Continue reading “Microsoft Reports Soft Cloud Growth and Windows Licenses Lowering Guidance”
Alphabet Earnings Growth Continues to Slow as YouTube Revenue Falls
Internet giant Alphabet, owner of Google reported worse than expected third quarter earnings after the close Tuesday. $GOOG total growth of 6% was the weakest period of expansion since 2013, other than one period during the pandemic. Google advertising, which includes search and YouTube ads again continued to lose momentum with the economy receding and uncertainty denting cloud and YouTube revenues. Revenue at YouTube actually declined when analysts were expecting growth of about 3%. Alphabet Reported ThirdQuarter Earnings After the Close … Continue reading “Alphabet Earnings Growth Continues to Slow as YouTube Revenue Falls”
Micron Lowers Guidance as DRAM on NAND Chip Sales Persist in Down Cycle
Memory chip maker Micron report lower fiscal fourth-quarter revenue and warned for the next quarter after the bell Thursday. $MU beat with Adj EPS of $1.45 over expected $1.37 but revenue of $6.64Bil missed exp $6.80Bil. The chipmaker sees Q1 Adj Revenue of $4B To $4.5B down from exp $6.02B. This comes after MU Recently warned revenue may come in at or below the low end of the revenue guidance range. Revenue, margins and earnings were hit further by lower … Continue reading “Micron Lowers Guidance as DRAM on NAND Chip Sales Persist in Down Cycle”