Stocks moving after hours: Amazon, Alphabet, Apple
Amazon (AMZN)
The online giant’s fourth-quarter net sales of $149.20 billion beat analysts’ expectations of $149.20 billion. Its adjusted earnings of 3 cents per share are below estimates of 17 cents.
Net sales of Amazon’s AWS cloud unit were $21.38 billion, up more than 20% from the same period in 2022. Operating profit was $21.38 billion. $2.74 billion, beating analysts’ expectations of $2.51 billion.
Alphabet (GOOGL, GOOG)
Shares of Google parent company Alphabet are trading down 6% after hours. The tech giant reported fourth-quarter revenue of $63.1 billion, excluding payments to partners, versus $63.2 billion expected by analysts.
Ad revenue fell 4%, while YouTube revenue fell 8%, reflecting a challenging advertising environment amid an economic downturn.
Sundar Pichai, CEO of Alphabet and Google, referenced the company’s AI in his earnings release.
“Our long-term investments in deep computing position us extremely well as AI reaches an inflection point, and I am excited about the AI-driven leaps we are about to unveil in the research and beyond,” Pichai said.
Apple (AAPL)
Shares fell about 4% after hours after the tech giant’s quarterly revenue of $117.15 billion fell 5% year-over-year, missing analysts’ expectations of $121.14.
iPhone sales fell 8% year-over-year to $65.8 billion, missing estimates of $68.3 billion. The company’s earnings per share of $1.88 also came in below expectations of $2.10.
Apple’s production and shipments were affected last year by COVID lockdowns in China.
Ines is a senior economics reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
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Stocks moving after hours: Amazon, Alphabet, Apple
