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Apple’s iPhone revenue slumped in the fourth quarter, while Amazon’s good numbers weren’t enough for the stock market.
It really is a super Thursday for the world’s largest tech companies, all of which presented quarterly numbers. Together these companies are worth several times more than the Norwegian Petroleum Fund, but the good news is that the Petroleum Fund has been able to participate in the increase in value this year.
Apple reported total revenue in the prior quarter of $ 64.7 billion and earnings per share of $ 0.73. International revenues represent almost 60 percent of the turnover.
Revenue in the group has never been higher, but iPhone sales revenue has fallen from $ 33.4 billion in the fourth quarter of 2018 to $ 26.4 billion this year. This is a decrease of up to 20 percent. On an annual basis, the decline is 3 percent more moderate. The CEO is still satisfied.
Also read: Your iPhone has a hidden “button” that you hardly know about, and it’s nifty
Difficult
– Apple completed a year marked by innovation and a difficult situation with a record quarter, led by the historical record of Mac sales and services, says Apple CEO Tim Cook in a press release.
An exciting moment was what the revenue will be from iPhone services and not just the revenue from the sale of phones. Services accounted for $ 14.5 billion in the fourth quarter, a 16 percent increase over the corresponding quarter in 2019.
Analysts expected, on average, that Apple would have total revenue in the prior quarter of $ 63.7 billion – $ 607 billion – and would be left with earnings per share of $ 0.7.
Also read: Apple leak: the new Iphone will knock out competitors in price
The most valuable in the world
The company has deviant years and presented figures for the fourth quarter. For all of 2020, Apple had a turnover of just over 274 billion dollars, a staggering 2.6 billion crowns.
Apple is currently the most valuable company in the world, with a market value of nearly $ 2 billion, or about NKr 19.5 billion. Apple shares are up a pleasant 55 percent since the beginning of the year (see chart below):
ON THE ROAD DOWN: Apple stock rose formidably through September, but then fell by more than 20 percent.
Photo: (Front)
Amazon had sales of $ 96.1 billion in the third quarter, leaving earnings per share above $ 12.
Amazon founder and owner Jeff Bezos is most concerned about the wages and jobs they have created. Bezos says in a press release that two years ago they raised the minimum wage for Amazon employees to $ 15 an hour, or just over NOK 140, and challenged other large employers to do the same.
– Now this is a great opportunity to do it, says Bezos.
– Offering jobs with industry-leading pay conditions is even more significant in times like these, and we are proud to have created 400,000 jobs this year alone, says one of the world’s richest people, who has been criticized by the working conditions of the employees.
Also read: Now Amazon can completely change Norwegian retail
Is not sufficient
Analysts predicted that Amazon’s revenue in the prior quarter would be $ 92.7 billion and earnings per share of $ 7.41. The expectations for results were enormous. Despite the good numbers, the stock fell after hours of trading on the US stock market.
Amazon has a market value of $ 1.6 billion, NOK 15.2 billion. So far this year, the stock has risen more than 72 percent, having risen more than 90 percent at the most.
Google owner Alphabet increased its profits to almost 107 billion kronor in the last quarter, as the advertising market rebounded after a slump at the start of the pandemic. Turnover increased by 42 percent to just over NOK 441 billion in the third quarter, Alphabet announced on Thursday.
Also read: Does Google make us sick? Researchers have now investigated this and been surprised
Strong quarter
Analysts predicted that Alphabet’s revenue in the previous quarter would be $ 42.9 billion – $ 409 billion – leaving $ 11.21 per share.
Revenues from cloud storage services and Google Play also contributed to the growth.
– We had a solid quarter, in line with the broader online environment, says CEO Sundar Pichai. Shares of the tech giant rose more than 8 percent aftermarket.
Before the figures were presented, the alphabet was worth just over $ 1 billion, slightly less than the Oil Fund. The stock is up much more modestly this year than the other giants, about 15 percent.
Also read: Facebook will ban ads that discourage coronary vaccination
Strong Facebook
Facebook increased revenue in the previous quarter by 22 percent to $ 21.47 billion, or NOK 205 billion. Tax earnings rose 28 percent to $ 2.71 a share, well above analysts’ expectations.
The number of daily active Facebook users in September was 1.82 billion, an increase of 12 percent from the corresponding quarter last year. Monthly active user also increased 12 percent during the period, to 2.74 billion.
On Thursday night, Facebook had a market value equivalent to NOK 760 billion and may point to a price increase since the turn of the year of a good 36 percent.
Also read: Donald Trump published a “60 minutes” interview on Facebook
Trust
“We had a strong quarter as individuals and businesses continue to rely on our services to keep in touch and create financial opportunities during these difficult times,” said Facebook CEO Mark Zuckerberg.
– We continue to invest heavily in our products and orders to deliver meaningful new experiences around the world.
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