Weekend Round-Up: Tech Giants' Earnings Reports, Reddit's Tumble And TSMC's Challenge To Intel
This week was a rollercoaster ride for the tech industry, with giants like Microsoft Corporation, Meta Platforms, Amazon.com Inc. and Apple Inc. releasing their quarterly earnings reports.
Meanwhile, Reddit Inc. saw its shares tumble despite beating Q2 earnings and revenue estimates. In other news, Taiwan Semiconductor Manufacturing Co. Ltd. is reportedly developing advanced chip packaging tech to challenge Intel’s dominance.
Microsoft’s 14th Consecutive Double Beat
Microsoft reported a Q4 revenue of $90.01 billion, an 18% increase year-over-year, beating the Street consensus estimate of $87.62 billion. This marks the company’s 14th consecutive double beat.
Mixed Q2 Results for Meta Platforms
Meta reported a Q2 revenue of $60.80 billion, beating analyst estimates of $59.50 billion. However, the tech giant’s Q2 adjusted earnings of $6.18 per share missed estimates of $7.13 per share.
Amazon’s Double Beat and Fastest AWS Growth in 18 Quarters
Amazon reported a Q2 revenue of $200.61 billion, beating the consensus estimate of $196.46 billion. The company’s Q2 earnings of $5.75 per share also beat analyst estimates of $1.82 per share.
Apple’s Double Beat and All-Time High Active Installed Base
Apple posted a fiscal Q3 revenue of $109.42 billion, beating analyst estimates of $108.65 billion. The company’s earnings of $2.02 per share for the quarter also beat estimates of $1.89 per share.
Reddit’s Shares Tumble Despite Q2 Earnings, Revenue Beats
Despite reporting quarterly earnings of $1.25 per share, which beat the consensus estimate of 95 cents by 31.58%, and a quarterly revenue of $804.91 million, which beat the Street estimate of $730.26 million, Reddit’s shares tumbled.
TSMC’s Challenge to Intel’s Dominance
TSMC is reportedly developing a chip packaging technology similar to Intel’s Embedded Multi-die Interconnect Bridge (EMIB), internally called "EMIB Like," and is partnering with Taiwan’s Kinsus Interconnect Technology on the project.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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