This week was a whirlwind of earnings reports and market movements. Tech giants like\u00a0Apple Inc.,\u00a0Meta Platforms Inc.,\u00a0Microsoft Corporation and\u00a0Alphabet Inc. all reported impressive earnings, while\u00a0Spotify Technology faced a sharp selloff. Here\u2019s a quick recap of the weekend\u2019s top stories.<\/p>\n
Apple\u2019s Stellar Quarter<\/p>\n
Apple\u2019s earnings per share (EPS) came in at $2.01, surpassing the consensus estimate of $1.94. The tech behemoth also reported revenue of $111.18 billion, beating the consensus estimate of $109.66 billion. The company\u2019s quarterly revenue and EPS rose 17% and 22% year-over-year, respectively. CEO Tim Cook hailed the period as Apple\u2019s \u201cbest March quarter ever,\u201d citing double-digit growth across all geographic segments.<\/p>\n
Read the full article here.<\/a><\/p>\n Meta Platforms Exceeds Q1 Expectations<\/p>\n Meta Platforms reported first-quarter revenue of $56.31 billion, beating analyst estimates of $55.45 billion. The company\u2019s adjusted earnings of $7.31 per share also surpassed estimates of $6.78 per share. Despite a slight quarter-over-quarter decline in family daily active people due to internet disruptions in Iran and Russia, the metric was up 4% year-over-year in March.<\/p>\n Read the full article here.<\/a><\/p>\n Microsoft\u2019s AI Revenue Soars<\/p>\n Microsoft announced third-quarter revenue of $82.9 billion, up 18% year-over-year, beating the Street consensus estimate of $81.39 billion. A key highlight was the company\u2019s AI revenue, which surged 123% YoY, hitting an annual run rate of $37 billion.<\/p>\n Read the full article here.<\/a><\/p>\n Alphabet\u2019s Earnings Triumph<\/p>\n Alphabet reported quarterly earnings of $5.11 per share, significantly beating the analyst consensus estimate of $2.62. The company\u2019s quarterly revenue was $109.9 billion, surpassing the Street estimate of $106.93 billion and marking an increase from $90.23 billion in the same period last year.<\/p>\n Read the full article here.<\/a><\/p>\n Spotify\u2019s Sharp Selloff<\/p>\n Disclaimer:\u00a0This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.<\/p>\n Image via Shutterstock<\/p>\n