The surge in Facebook revenue in Q1 can be attributed to a 30% rise in the average price per advertisement.
Apple recorded a revenue of $89.58 billion in Q1 versus $77.36 billion expected by analysts according to a survey conducted by Refinitiv.
Microsoft revealed that revenue in the Intelligent Cloud increased by 23% to $15.1 billion.
According to Goldman Sachs, many of the indicated stocks have “dramatically outperformed” the broader stock market.
Alphabet stock has jumped 85.87% over the past year and has added 30.72% in its year-to-date record.
It is now the season of S&P 500 big tech companies reporting their first-quarter earnings. By now, about 30% of them have reported results. Nearly 88% of reporting companies beat analysts’ expectations. However, only half of them saw their stocks rise after their reports.
During the first three months of the year, BP reported that its net debt fell by $5.6 billion to $33.3 billion. Notably, the company hit its target of reducing net debt to $35 billion.
Strong earnings from big tech corporations are keeping the market momentum positive. However, the surge in commodity prices have fueled the fears of inflation as the consumer staples sector witnesses downward pressure.
GameStop stock has grown about 2,800% in the last twelve months, and 796.66% since 2021 began.
According to Facebook CEO Mark Zuckerberg, Apple is likely to hurt small businesses and deny users personalized services.
In its Q1 2021 results, Tesla stated that it has liquidated 10% of its total holdings in Bitcoin netting a positive income of $101 million. The company also revealed good delivery numbers while addressing issues with semiconductor and hardware supplies.
With the spike in Q1 sales, Philips now expects “low-to-mid-single-digit comparable sales growth.”
eToro wants the Bitcoin Value Chain to consist of firms operating in the mining, semiconductor, payments, exchange, custodianship, and insurance spaces, as well as the asset itself.
According to Dan Ives, the performance of Coinbase is a “barometer” for the growing adoption of Bitcoin and altcoins over the coming years.
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