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Today's economic news:
The U.S. GDP collapsed and the four Big Tech companies reported blowout earnings.
It's rare that the story tells itself this well.
The U.S. GDP collapsed and the four Big Tech companies reported blowout earnings.
It's rare that the story tells itself this well.
Amazon sales were up 40% and its profit doubled (!) to $5.2 billion, blowing away Wall Street expectations in a way that makes you wonder whether Wall Street knows what it's talking about.
Here's @KYWeise: https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/amazon-sales-and-profit-blow-past-expectations
Here's @KYWeise: https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/amazon-sales-and-profit-blow-past-expectations
Facebook surely is hurting given the ad boycotts, right?
Nah. Profits nearly doubled to $5.2 billion.
@MikeIsaac explains: https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/facebook-nearly-doubles-its-profit-but-warns-of-fallout-from-ad-boycotts
Nah. Profits nearly doubled to $5.2 billion.
@MikeIsaac explains: https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/facebook-nearly-doubles-its-profit-but-warns-of-fallout-from-ad-boycotts
Apple profits were up 12% to $11.25B, as sales of every product and in every region rose.
Apple's CFO told me: “Our products & services are very relevant to our customers’ lives, and in some cases, even more during the pandemic than ever before,” https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/apple-blows-past-expectations-with-surging-sales-and-profits
Apple's CFO told me: “Our products & services are very relevant to our customers’ lives, and in some cases, even more during the pandemic than ever before,” https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/apple-blows-past-expectations-with-surging-sales-and-profits
Google had arguably the worst quarter, which for it meant beating analysts' expectations and posting a $7 billion profit in an economic recession.
@daiwaka writes: https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/alphabets-revenue-drops-but-beats-wall-street-expectations
@daiwaka writes: https://www.nytimes.com/live/2020/07/30/business/stock-market-today-coronavirus/alphabets-revenue-drops-but-beats-wall-street-expectations
