Zuckerberg Pichai Cook Bezos
From left to right, Mark Zuckerberg, Sundar Pichai, Tim Cook, and Jeff Bezos. Getty/Carsten Koall/Michael Kovac/Business Insider composite


  • Apple, Alphabet, Amazon, and Facebook all reported their second-quarter earnings on Thursday.
  • These four, along with Microsoft, are the five most-valuable publicly traded companies on the S&P 500.
  • These earnings reports come one day after the CEOs of Apple, Alphabet, Amazon, and Facebook testified before the House Judiciary’s antitrust subcommittee over possible anticompetitive behavior.
  • All four tech companies reported better-than-expected earnings.


Facebook beat Wall Street estimates for daily active users and reported double-digit revenue growth year-over-year, sending its stock soaring 8% in after-hours trading.

Here are the key numbers, as well as Wall Street estimates, via Bloomberg:

  • Revenue: $18.69 billion, up 11% year-on-year ($17.31 billion expected)
  • Earnings Per Share (EPS) GAAP: $1.80 ($1.39 expected)
  • Daily Active Facebook Users: 1.79 billion, up 12% year-on-year (1.74 billion expected)
  • Monthly Active Facebook Users: 2.7 billion, up 12% year-on-year (2.63 billion expected)

Rob Price


Amazon blew past Wall Street estimates, with $88.9 billion in sales last quarter, but fell short on growth with Amazon Web Services. Amazon stock was up by as much as 6% in after-hours trading.

  • EPS (GAAP): $10.30 versus expectations of $1.50 per share
  • Revenue: $88.9 billion versus expectations of $81.24 billion
  • AWS: $10.81 billion versus expectations of $11.01 billion

Eugene Kim


Apple exceeded Wall Street estimates for its fiscal third quarter. Apple’s stock was up 5% and passed $400 per share for the first time in after-hours trading.

  • Q3 revenue: $59.7 billion. Analysts were expecting $52.3 billion. In the same quarter one year ago, Apple posted revenue of $53.8 billion.
  • Q3 earnings per share (GAAP): $2.58. Analysts were looking for $2.07. In its third-quarter of 2019, Apple earned $2.18 a share.
  • iPhone revenue: $26.4 billion, up 1.7% from $25.9 billion in its fiscal third-quarter 2019.
  • Services revenue: $13.1 billion. Apple’s revenue segment generated $11.5 billion in the same period last year.
  • Wearables revenue: $6.4 billion. Apple posted $5.5 billion in revenue for its wearables business in last year’s third quarter.

Lisa Eadicicco


Google parent company Alphabet reported revenue of $31.6 billion minus traffic acquisition costs, a decline of roughly 2% year-over-year. This is the first time in its trading history that it reported an annual decline in revenue, first reported by CNBC. Still, it beat Wall Street estimates.

  • Revenue: $31.6 billion (minus traffic acquisition costs), vs expectation of $30.5 billion.
  • EPS (GAAP): $10.13, vs expectation of $8.27.
  • Net Income: $6.96 billion.
  • Google Cloud revenue: $3.01 billion.
  • YouTube ad revenue: $3.81 billion.

As reported by Business Insider