After Meta, the 3 major 'Big Tech' also released earnings reports for the fourth quarter of 2022 on Thursday.
Even so, the reports published by these three giant technology companies were not as predicted and caused shares to fall in the New York session.
Apple
Apple's sales revenue fell 5% in the October-December 2022 quarter to $117.2 billion, the first decline since 2019.
3 main factors caused this drop: a strong dollar, production issues in China that affected the iPhone 14 Pro and iPhone 14 Pro Mac, and the overall economic environment.
Apple shares fell 4% following the report.
Amazon
Revenue increased 9% to $149.2 billion year over year.
However, sales for the current quarter are expected to be lower between $121 billion and $126 billion due to lower demand.
Operating profit could fall to zero in the current quarter as savings in layoffs cannot cover the lack of demand.
Amazon shares fell nearly 4%.
Alphabet (GOOGLE)
Revenues rose just 1% in the fourth quarter, to $76.05 billion.
YouTube advertising revenue fell 8% to $7.96 billion from $8.63 billion a year earlier.
“Google Search and Other” revenue reached $42.60 billion, down 2% from the previous year.
Shares fell nearly 4%.
Findings from these three reports show the tech giant continues to struggle with slow growth and global economic uncertainty.
