Tech News Summary:
- Meta and Amazon saw a significant increase in market value after reporting better than expected quarterly earnings.
- Both companies implemented cost-cutting measures, including job eliminations, which led to their strong financial performance during the holiday season.
- Meta announced plans for share buybacks and its first quarterly dividend, while Amazon reported its best online sales growth since the start of the pandemic.
In a stunning display of financial prowess, Meta and Amazon have seen a combined $336 billion added to their market value following their recent quarterly earnings reports.
Meta, formerly known as Facebook, reported a 22% increase in revenue for the third quarter, totaling $29 billion. This surge in earnings has added $183 billion to the company’s market value, sending its stock price soaring.
Meanwhile, Amazon also impressed investors with its latest quarterly performance, reporting a 15% growth in revenue to reach $110.8 billion. This strong showing has added a massive $153 billion to the e-commerce giant’s market value.
The impressive financial results from both tech behemoths have cemented their positions as key players in the global market. The added market value demonstrates the confidence and optimism investors have in these companies’ ability to continue delivering strong earnings and growth.
Analysts and industry experts are praising the companies for their resilience and adaptability, especially in the face of ongoing challenges such as supply chain disruptions and labor shortages.
With their latest earnings reports, Meta and Amazon have once again proven their ability to dominate the market and generate significant returns for their investors. As they continue to expand their reach and innovate across various sectors, their market values are expected to remain on an upward trajectory.