Facebook and Apple each reported earnings that beat Wall Street expectations on Wednesday, sending shares of both companies higher. Despite facing pressure from regulators, Facebook's financials remain solid. Third-quarter revenue rose 29% from a year earlier, while profit also grew. The number of users across all its platforms also climbed.... despite concern over Facebook privacy practices after a slew of scandals. The social media company reported 2.2 billion daily users on Facebook, Messenger, Instagram and Whatsapp. That's slightly higher than the previous quarter. Meanwhile Apple gave investors something to smile about heading into the holiday season - with a better than expected forecast for the crucial quarter. It expects sales to come in anywhere from 85.5 billion to about 90 billion. In an interview with Reuters, Cook said that the revenue guidance was based on strong sales of services and wearables, as well as promising early sales for the iPhone 11 models released last month. Meanwhile overall iPhone sales were down 9% year-over-year, marking the fourth straight quarter of declining sales of the phone as the company tries to shift its business toward a broader mix of products including the Apple Watch and Airpods. Read More...
Facebook and Apple each reported earnings that beat Wall Street expectations on Wednesday, sending shares of both companies higher.
Despite facing pressure from regulators, Facebook’s financials remain solid.
Third-quarter revenue rose 29% from a year earlier, while profit also grew.
The number of users across all its platforms also climbed…. despite concern over Facebook privacy practices after a slew of scandals.
The social media company reported 2.2 billion daily users on Facebook, Messenger, Instagram and Whatsapp.
That’s slightly higher than the previous quarter.
Meanwhile Apple gave investors something to smile about heading into the holiday season – with a better than expected forecast for the crucial quarter.
It expects sales to come in anywhere from 85.5 billion to about 90 billion.
In an interview with Reuters, Cook said that the revenue guidance was based on strong sales of services and wearables, as well as promising early sales for the iPhone 11 models released last month.
Meanwhile overall iPhone sales were down 9% year-over-year, marking the fourth straight quarter of declining sales of the phone as the company tries to shift its business toward a broader mix of products including the Apple Watch and Airpods.
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