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Tech giants dominate the US stock market and can show good results throughout the year. The market had high expectations for third-quarter reports from four of the biggest – Facebook, Amazon, Alphabet and Twitter – after the New York Stock Exchange closed on Thursday.
Facebook’s revenue was $ 21.5 billion in the third quarter, more than the expected $ 19.8 billion. But the share fell 1 percent post-sale shortly after the results were released, after rising 4.9 percent Thursday while waiting for the report, the Wall Street Journal writes.
“Strong neighborhood”
– 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, CEO Mark Zuckerberg says in the report, according to Dagens industri.
Amazon also did better than expected. Sales were $ 96.1 billion compared to the forecast’s $ 92.6 billion, while net income was 67 percent better than expected.
However, the e-commerce giant’s share fell 1.3 percent after the stock market close, after rising 1.5 percent on Thursday.
Aftermarket share
Twitter’s revenue was $ 937 million compared to $ 773 million, according to the forecast.
Alphabet’s sales were $ 46.2 billion versus the expected $ 42.8 billion. After the report was released, stocks were up 6 percent in the secondary market, according to the Wall Street Journal.
