US Earnings Release - Alphabet And Amazon Race Toward $1,000
AvaTrade | Apr 28, 2017 05:01AM ET
Both Alphabet (NASDAQ:GOOGL) Inc and Amazon.com (NASDAQ:AMZN) released strong results after market, with beats on both EPS (Earnings-per-share) and Revenue. Alphabet jumped 3% from $891 to $933 per share, whilst Amazon.com jumped 4% from $918 to $960. Alphabet managed to ride out the backlash over its ad platform at the start of the year and saw further growth in Cloud, mobile search and YouTube ad sales. Amazon saw continued growth as big department stores close their doors in the face of competition of the e-commerce giant. Who will be the first to reach the $1000 milestone?
Microsoft (NASDAQ:MSFT) shares fell 1.5% in after-hours, following a Revenue miss ($23.56B vs $23.62B). The company is up 10% for the year however, and 24% over the last 10 months, so the narrow miss must be seen in context of high expectations. On a positive note, Microsoft’s revenue in the Cloud sector was up 11% for Q1, at $6.8B vs $6.6B.
Intel (NASDAQ:INTC) also saw a drop in after-hours trade following a narrow miss on revenue expectations. Intel saw lower profit margins for Q1 in their Data Centre Business, but point to new initiates in memory technology, artificial intelligence and autonomous driving as growth drivers for the company as it transitions from a PC maker to focus on the ‘Internet of things’.
Other notable results were Starbucks (NASDAQ:SBUX), who dropped 4% in after hours, as the company failed to grow sales on a same-store basis for the second quarter in a row. Starbucks CEO says future growth is going to be pursued through beverage innovations – such as the limited edition Sweet-and-Sour Unicorn Cappuccino, which was released last year. Starbucks also plans to open more of its Roastery locations, which sell small-batch roastings of rare and exotic coffee alongside their standard blends.
Go Pro saw a 6% jump after their Q1 results, which saw better than expected sales for the first time in a number of quarters. Their flagship karma Drone can back onto the market, following a battery recall, which was a major boost to sales. The company has also managed to reduce costs by $50M following three rounds of job cuts over the past year.
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