Between disappointments and surprises: the economic reports of Apple, Google and Meta

Apple , Meta , Alphabet and other companies shared their revenue during the last quarter of 2022.


The technology sector gave a strong boost to the Nasdaq on Thursday, after better-than-expected results from Meta , the parent of Facebook, awaiting results from Alphabet , Apple and Amazon after the close. The Nasdaq jumped 3.25% to 12,200.82 points and the S&P 500 gained 1.47% to 4,179.76 points, while the Dow Jones lost 0.11% to 34,053.94 points.

The locomotive of the day was Meta, whose shares shot up 23.28% to $188.77 after lower but better-than-expected results announced Wednesday at the close.

Before and after closing

Investors also positioned themselves in technology giants, awaiting results after the close. Amazon gained 7.38% to $112.91 before losing more than 6% in after-bell trading.

The company announced a turnover of 149.2 billion dollars in the fourth quarter of 2022, above its forecasts and what was expected by the market, in a context of inflation that affects consumers.

However, the US online commerce giant made cautious forecasts for the current quarter and its shares fell after the close. Meanwhile Alphabet, the parent company of Google and YouTube, which closed up 7.27% at $108.80 a share, disappointed the market on Thursday with slightly declining revenue to $76 billion in the fourth quarter of 2022.

Its profit was also lower than expected by analysts, and stood at 13.6 billion dollars, compared to 20.6 billion in the same period of 2021, according to a statement released after the Wall Street close. His stock also fell after the shutdown.

Finally, Apple published a falling quarterly revenue and net profit in the last quarter of 2022 over the same period of 2021, below what was also expected by the market, due to a drop in iPhone sales. Revenues were located at 117,100 million dollars in the considered period, 5.4% below the same quarter of the previous year, the company reported in a statement.

The results of the American giant suffered from a drop in iPhone sales of more than 8% in the quarter-to-quarter comparison. Thus, the firm’s net profits reached 29.9 billion dollars in the quarter, 13% less than a year ago. On its side, the giant Ford lost 7.67% after closing at an increase of 3.99%, with a stagnant profit in 2022.

For the Starbucks coffee chain, the results were not as expected either, due to a drop in sales in China. Its shares, which closed down 0.76% at $109.15, were shedding another 3.53% in after-hours electronic trading.

Business prospects “weaken for companies,” summarized Jack Ablin, from Cresset Capital, in dialogue with AFP, who stressed that “investments, demand for PCs and chips fall,” in view of the published results and projections.