Today’s big tech earnings in a mere 700 words – ClearTips

Today’s big tech earnings in a mere 700 words – TechCrunch

Today was another day of earning from the biggest names in technology. We have extracted key data from major reports to keep you up to speed without burying you in an endless crush of those key numbers.

In each you will also find a link to their earnings report. What does all of the week-long earnings data mean for startups? We’ll do a full roundup on that front tomorrow morning, so stay tuned.

Here’s what you need to know:

  • Facebook crushed financial expectations, slightly missing users. Facebook shares are up nearly 5% following its recent financial results report. Facebook had a two-part report to some extent. The first piece of the results was a huge financial beating; Another was that it occasionally missed out on active use. Investors are weighing more heavily than the former. In numerical terms, Facebook was expected to report $ 23.67 billion in revenue. Instead, it posted $ 26.17 billion. And its earnings per share beat expectations of $ 0.93 per share, or just under 40%. Facebook is a controversial company with known issues. But being better than expected financial results is not one of them.
  • Hope again dashed. Its shares rose again. The Canadian e-commerce infra player’s IPO Shopify story continues beyond expectations. Investors expected sales of $ 865.48 million in total Q1 2021 revenue. Shopify managed $ 988.6 million instead. And it beat the profit expectations many times. Did Shopify remove the result? The company’s so-called “merchant solutions” business, which grew by 137%, is faster than the company’s overall 110% growth rate in the quarter. Merchant Solutions in the company incorporates its payment, shipping and capital services, among other elements of its business.
  • Apple shares rose after the company reported strong growth in product categories. Apple, such as Facebook, blasted investor expectations for the most recent quarter. In the three-month period ended March 27, 2021, Apple generated revenue of $ 89.6 billion and earnings of $ 1.40 per share were $ 77.35 billion in earnings per share and miles ahead of $ 0.99 in diluted EPS. Did you win heavily? The growth in each single product category, which the company reports, compared to the year-earlier period. IPhone sales totaled $ 47.94 billion, compared to $ 28.96 billion a year earlier. And the company’s major service business line grew from $ 13.35 billion to $ 16.90 billion at the same temporary end. For nerds in the room, Apple’s net income as a percentage of gross profit in the quarter was over 62%. Wow.
  • Spotify’s shares fell sharply after reports of slow-to-anticipate user growth. Financially, Spotify had a good quarter. It met revenue expectations (around € 2.15 billion), and presumably lost less money per share. However, the music streaming company’s user base reached only 356 million in the first quarter of the year, low-end from Spotify’s 354 million to 364 million guidance, and just 360 million under market expectation. Today its shares were off about 12%. Why did Facebook shares increase with the use of Spotify when it fell? Facebook crushed financial expectations. Spotify only met them. And Facebook’s user base appears smaller than that of Miss Spotify.
  • GrubHub increased its revenue and incurred losses ahead of its acquisition. GrubHub, which is in the final stages of being digested by JustAtt Tackway, brought in more money in the first quarter than the same period a year earlier, but also lost more money. Here’s the breakdown: Revenue rose 52% year-over-year to $ 550.6 million, all thanks to epidemic-driven deliveries. GrubHub also reported a negatively adjusted EBITDA of $ 9.3 million. GrubHub attributed its adjusted EBITDA results to several factors, including temporary fee caps (which it opposes), rising driver costs, short-term driver supply imbalances from rising demand, extreme winter weather in some parts of the country, and some Extent are included. The issuance of degree, incentive payments caused some drivers to temporarily reduce hours in March. Active Dinner grew 38% year-over-year to 33.0 million, another positive sign for the company. But alas, its net loss rose to $ as5 million, or a loss of $ 1.ut1 per dollar, compared to a net loss of $ 3.79 million, or $ 0.36 per diluted share in the same period a year earlier. Damage done.

You can catch Microsoft and Alphabet’s earnings here, among others.

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