Most of the technology giants have released their quarterly financial results, and among all the major companies, Google Inc (NASDAQ:GOOG) and Amazon.com, Inc. (NASDAQ:AMZN) have clearly surprised investors with their exceptional performance in the latest quarter by showing financial discipline and a course to long-term growth.
The search engine giant controlled expenses in the second quarter, and investors praised with a 16 percent rise in stock price after Google posted better-than-expected results. AMZN also surged after announcing surprise earnings, showing that the e-commerce giant is capable of generating profit when it closely watches its spending.
Comparatively, Facebook Inc (NASDAQ:FB) moved down as CEO Mark Zuckerberg didn’t provided enough details regarding profit generating plans for the social networking giant’s new initiatives including WhatsApp and Oculus. By contrast, Twitter Inc. and LinkedIn Corp. declined over sluggish user growth.
Microsoft Corporation (NASDAQ:MSFT) announced its biggest quarterly loss ever. On the other hand, Apple Inc. (NASDAQ:AAPL)’s iPhone sales and growth missed consensus forecast for the current quarter.
GOOG’s stock jumped after CFO Ruth Porat said the company plans to further limit spending.
For AMZN, sales on Prime Day to celebrate its 20th birthday, surpassed expectations. Orders generated on Prime Day, which was intended to boost Prime members, surpassed Black Friday. Revenue for AMZN’s cloud-services segment in Q2 climbed 81 percent from last year, and 49 percent versus previous quarter.
The social networking giant, Facebook’s Q2 revenue topped estimates, though investors were not pleased by the growth of its apps, including Messenger, WhatsApp and Instagram, that could generate huge amount of cash on their own.
The software maker giant, Microsoft posted a loss for the latest quarter and projected weak sales guidance. Net loss came in at $3.2 billion, mainly because of a $7.5 billion writedown of its Nokia handset division. Sales of Windows to PC manufacturers and businesses also declined, however revenue from its cloud-computing segment jumped.
