Apple, Microsoft, and Meta Platforms—three of the so-called Magnificent Seven—reported earnings this week, with all three turning in revenue that beat Wall Street's estimates for the latest quarter.
Microsoft Corp. (MSFT)
Microsoft surpassed expectations in its Q4 2023 earnings, achieving a revenue of $62B, which exceeded the expected $61.1B. Moreover, the company outperformed the projected earnings per share (EPS) of 2.93, surpassing the forecasted 2.78.
Microsoft's success was due to its strategic investment in implementing AI throughout every layer of its technology infrastructure. This approach not only attracted new customers but also played a role in fostering new advantages and productivity gains across diverse industry sectors.
Apple Inc. (APPL)
Apple exceeded expectations in its Q4 2023 earnings, achieving a revenue of $119.58B compared to the anticipated $118.06B. Furthermore, the company surpassed the estimated earnings per share (EPS) of 2.18, outperforming the forecasted 2.1.
This was driven by strong iPhone sales and record-breaking revenue in services. The company's success extended across various products and geographic segments, showcasing its widespread impact. Moreover, the launch of the Apple Vision Pro reflects its commitment to innovation.
Amazon (AMZN)
In its Q4 2023 earnings report, Amazon outperformed expectations by generating a revenue of $170B, surpassing the projected $165. 95B. Additionally, the company exceeded the anticipated earnings per share (EPS) of 1, surpassing the forecasted 0.8.
This achievement was attributed to many factors, including outstanding performance during the record-breaking holiday shopping season, the success of Amazon's October Prime Day event, which the company managed to exceed expectations, and much more.
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