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  1. Alphabet announces Q4 2020 earnings with $56.9B in revenue Google’s parent company Alphabet today announced its earnings for the fourth quarter of 2020 ending December 31, 2020. The company reported revenues of $56.898 billion, a 23% increase from the same quarter last year. The company made $182.527 billion in revenue for fiscal year 2020, up form $161,857 billion in 2019. Unsurprisingly, the largest chunk of its quarterly revenues came from Google, which accounted for $52.873 billion, increasing by a little more than 22% over the same quarter last year. This includes Google Search, YouTube advertising, and other services. Google cloud too saw strong growth, growing to $3.831B in Q4, up from $2.614B last quarter. Our strong fourth quarter performance, with revenues of $56.9 billion, was driven by Search and YouTube, as consumer and business activity recovered from earlier in the year”, said Ruth Porat, CFO of Google and Alphabet in a prepared statement. “Google Cloud revenues were $13.1 billion for 2020, with significant ongoing momentum, and we remain focused on delivering value across the growth opportunities we see.” As for Alphabet’s other revenue streams, the “Other bets” section brought in $196 million, up from $172 million in the same quarter last year. However, the “Hedging gains” business line accounted for a $2 million loss, dropping by close to $93 million over the same quarter last year. Overall operating income for Alphabet stood at $15.651 billion, up from $9.266 billion last year. The total net income for the firm was $15.227 billion, for $22.30 diluted earnings per share. Sudar Pichai, CEO of Google and Alphabet, said: “Our strong results this quarter reflect the helpfulness of our products and services to people and businesses, as well as the accelerating transition to online services and the cloud. Google succeeds when we help our customers and partners succeed, and we see significant opportunities to forge meaningful partnerships as businesses increasingly look to a digital future.” As for fiscal year figures, the company saw close to 46% growth in its cloud business, reporting $13.059B in revenue for 2020. Google services brought in $168.635B. The Other bets business almost flatlined, losing $2 million, whereas the “Hedging gains” line item lost $279 million, bringing in $176 million in 2020. Operating income stood at $41.224B for the year. Alphabet announces Q4 2020 earnings with $56.9B in revenue
  2. AMD made a billion dollars more in Q4, and multiple billions in 2020 Profits went up nearly a thousand percent AMD is firing on all cylinders these days: it’s the guts of every modern PlayStation and Xbox, it has the desktop CPUs to beat, it’s nearly caught up to Nvidia in GPU performance (if not availability), and it’s about to challenge Intel in laptops as well — with its Ryzen 5000 mobile CPUs and RDNA 2 GPUs due later this year. All of that can translate to eye-popping dollar signs: the chipmaker just announced its Q4 and full-year 2020 earnings, and it’s adding billions of dollars wherever you look: $3.2 billion in revenue this quarter, up 53 percent from $2.1 billion last quarter $1.78 billion in profit this quarter, up 948 percent from $170 million last quarter* $9.76 billion in revenue this past year, up 45 percent from $6.7 billion in 2019 $2.49 billion in profit this past year, up 630 percent from $341 million in 2019* AMD says it’s a new revenue record for the company, despite previously saying it expected weakened demand in the second half of the year due to the pandemic. The big dollar signs don’t all represent consumer-grade chips, of course, as the company has its fingers in many silicon pies, but more than half of its quarterly revenue came from its Computing and Graphics segment, which was “up 18 percent year-over-year and quarter-over-quarter primarily driven by strong sales of Ryzen processors.” We’ll update this post if there are any intriguing details on the earnings call, particularly about when we can expect the company’s desktop CPUs and GPUs to become less hard to find. *Those profits include “a fourth quarter income tax benefit of $1.30 billion associated with a valuation allowance release,” according to the company. AMD made a billion dollars more in Q4, and multiple billions in 2020
  3. Xbox, Surface, and cloud once again boost Microsoft’s Q2 earnings Microsoft’s gaming business is strong this quarter Microsoft posted the second quarter of its 2021 financial results today, reporting revenue of $43.1 billion and a net income of $15.5 billion. Revenue is up 17 percent, and net income has increased by 33 percent. We saw some impressive growth for Surface, Xbox, and cloud-related services in Microsoft’s previous quarter, and it’s very much the same this time around. The PC market just had its first big growth in 10 years, with around 300 million shipments of devices during 2020. The pandemic has impacted the way a lot of people work or learn, and many have turned to laptops to continue remotely. Windows OEM non-pro revenue has grown by 24 percent for Microsoft, reflecting the demand from consumers. Windows OEM revenue overall, including pro licenses, grew 1 percent in total, likely because of the strong prior Windows 7 upgrade schedule for businesses. Microsoft’s next-gen Xbox consoles. Photo by Vjeran Pavic / The Verge This is the first quarter of sales of Microsoft’s Xbox Series X and Series S consoles. While both debuted towards the end of the quarter (November 10th), Microsoft says hardware revenue has grown 86 percent thanks to the next-gen consoles. Xbox content and services revenue has also increased by 40 percent compared to the same quarter last year. Gaming has been incredibly popular throughout 2020, and many have clearly turned to Xbox Game Pass and services like xCloud during the pandemic. That’s pushed Microsoft’s overall gaming revenue up 51 percent. Over on the Surface side, Microsoft’s updated Surface Pro X and Surface Laptop Go also debuted during this quarter. Surface revenue is up three percent, but it’s crucially now a 2 billion dollar business for the first time ever. Microsoft also just announced an updated Surface Pro 7 Plus device, available only for businesses and schools. The new model includes a bigger battery, Intel’s 11th Gen processors, a removable SSD, and LTE. Microsoft’s Surface Laptop 3 lineup. Photo by Amelia Holowaty Krales / The Verge Microsoft 365 Consumer subscribers have also increased to 47.5 million, a 28 percent bump. Microsoft has been focusing on Teams and Microsoft 365 services for consumers, launching a renewed effort to attract more subscribers last year. Cloud services continue to be a big boost to Microsoft’s revenues, thanks to the general pandemic shift in work and learning behavior. Both Office commercial and consumer are up, with Office 365 Commercial revenue growth up by 21 percent. Server products and cloud services revenue has also increased 26 percent as more businesses rely on cloud services. Azure revenue itself grew 50 percent. Microsoft is planning to hold an investor call at 5PM ET and we’ll update this article with any relevant information. Xbox, Surface, and cloud once again boost Microsoft’s Q2 earnings
  4. Elon Musk had plenty to crow about during Tesla’s Q3 2020 earnings call on Wednesday. “Q3 was our best quarter in history!” Musk exclaimed. The company recently announced that it had produced a record 145,036 vehicles this quarter, delivering 139,300 of them. With more than 319,000 vehicles delivered so far this year, all eyes are on whether the automaker can hit its goal of delivering 500,000 vehicles by year’s end. 500,000 deliveries is “a line in the sand that was a pipe dream six months ago as Tesla (and other auto players) have navigated this COVID backdrop," Wedbush Securities’ Dan Ives told Business Insider. “While achieving this goal has become more difficult,” the company wrote in its earnings statement, “delivering half a million vehicles in 2020 remains our target. Achieving this target depends primarily on quarter over quarter increases in Model Y and Shanghai production, as well as further improvements in logistics and delivery efficiency at higher volume levels.” Thanks to its strong sales and record deliveries, Tesla saw its revenue grow 39 percent YoY in Q3 and its operating income rise to a record $809 million en route to its fifth consecutive quarter of profitability. Construction on Tesla’s production plants is continuing on schedule. The Fremont plant’s capacity has been expanded to increase production of Model 3s and Model Ys to 500,000 units a year. Its Shanghai factory report that Model 3 production capacity has been increased to 250,000 vehicles a year and the upcoming Berlin-Brandenburg Gigafactory should be ready to begin production in 2021. The Tesla Semi is also slated for production beginning next year. Musk also expounded on the company’s limited release of its Full Self Driving beta system earlier this month. “We're starting very slow and proceeding very cautiously because the world is a complex and messy place,” he said. “Of course, as the system collects more data it becomes more robust.” “It was important to emphasize that this is a generalized neural net based approach,” he continued. “There is no need for high definition maps or a cellphone connection. The system is designed such that, even if you have no connectivity whatsoever and you're at a place that you have never been before — and no Tesla has even been before — the car should still be able to drive just like a person. That is the system that we are developing and aiming to release this year.” Source
  5. AMD announces record Q3 2020 earnings, revenue up 45% to $2.8 billion AMD today announced its earnings for the third quarter of 2020, reporting a blockbuster 56% increase in revenue and a 58% increase in gross profit, year-over-year (YoY). Revenue was up a record 45% quarter-over-quarter (QoQ) at $2.8 billion, thanks to strong consumer and enterprise processor sales, among others. The firm reported a 148% increase in net income QoQ, totaling to $390 million. Dr. Lisa Su, president and CEO of AMD, said in a statement: Our business accelerated in the third quarter as strong demand for our PC, gaming and data center products drove record quarterly revenue[.] We reported our fourth straight quarter with greater than 25 percent year-over-year revenue growth, highlighting our significant customer momentum. We are well positioned to continue delivering best-in-class growth as we further extend our leadership product portfolio with the launches of our next generation Ryzen, Radeon and EPYC processors. The company noted that the “Computer and Graphics segment” revenues were up 31% YoY and 22% QoQ to $1.67 billion. The increased sales of Ryzen processors and Radeon GPUs aided the increase in revenue from the consumer segment. However, the firm says that the average selling price (ASP) for GPUs were lower YoY owing to “product cycle timing”. The firm is slated to reveal the RDNA 2-based next-gen GPUs tomorrow. With Nvidia struggling to match the demand for the RTX 30 series GPUs, it will be interesting to see how AMD's offerings will cash in on the opportunity. Revenue from the enterprise segment also brought in strong numbers as well, with the company touting a 116% YoY and 101% QoQ increase in revenue, totaling to $1.13 billion. AMD’s record financial performance comes at a time when Intel reported a four percent drop in YoY revenue and double-digit drops in enterprise-related earnings. With the red team’s Zen3-based Ryzen 5000 series processors on the horizon, it will be interesting to see how the next quarter looks for both chipmakers. AMD announces record Q3 2020 earnings, revenue up 45% to $2.8 billion
  6. Alphabet announces its second quarter earnings with $38.3B in revenue Today, Google parent company Alphabet announced its earnings for the second quarter of 2020. For the quarter, it took in $38.297 billion in revenue, a modest decline from the same quarter last year, where it took in $38.944 billion. "In the second quarter our total revenues were $38.3B, driven by gradual improvement in our ads business and strong growth in Google Cloud and Other Revenues," said Ruth Porat, Chief Financial Officer of Alphabet and Google. "We continue to navigate through a difficult global economic environment." The vast majority of that, of course, is from Google. The search giant accounted for $37.998 billion in revenue, and out of that, $29.867 billion was from advertising, broken down into $21.319B in Google search and $3.812B in YouTube ads. The rest is made up of $3.007B in Google Cloud revenue, and $5.124 billion of "other". The rest of Alphabet's revenue falls under "other bets" and "hedging gains", where it made $148 million and $151 million in revenue, respectively. Operating income for Google was $7,572B; however, for other bets, it was a loss of $1.116B. "We're working to help people, businesses and communities in these uncertain times," said Sundar Pichai, Chief Executive Officer of Google and Alphabet. "As people increasingly turn to online services, our platforms — from Cloud to Google Play to YouTube — are helping our partners provide important services and support their businesses." Total net income was $6.959B, for $10.13 diluted earnings per share. Alphabet announces its second quarter earnings with $38.3B in revenue
  7. Apple reports strong Mac and iPad sales in record-breaking Q3 earnings Apple’s hardware fared well in the third quarter Xinhua/Wang Ying via Getty Images Apple today reported extremely strong third quarter earnings, offering another look at how the company is shaking off the toll the COVID-19 pandemic is taking on its business. Analysts had been expecting around $52.3 billion in revenue and earnings per share of $2.07, but Apple crushed those predictions with $59.7 billion in revenue — up 11 percent from last year’s third quarter — and EPS of $2.58, up 18 percent. The company announced a four-for-one stock split alongside the earnings, saying that “each Apple shareholder of record at the close of business on August 24th, 2020 will receive three additional shares for every share held on the record date.” As has become the norm, Apple’s services and wearables divisions performed strongly. But the iPhone, Mac, and iPad all fared well during Q3 as well. With the updated 13-inch MacBook Pro released in the spring, the entire MacBook line has now made the switch to more reliable keyboards and left the controversial “butterfly mechanism” design behind. That has likely only helped the already-high demand for computers and tablets as remote work continues on for so many people. This was the first quarter to factor in sales of the second-generation iPhone SE, which is Apple’s cheapest iPhone with a starting price of $399. iPhone sales were particularly slow for the first three weeks of April, according to a Bloomberg interview with Apple CEO Tim Cook, but picked up afterward. The company is expected to announced a new lineup of “iPhone 12” devices in early fall, including one with a 5.4-inch display that should appeal to consumers looking for a smaller-sized phone with the same all-screen design as the larger ones. It’s rumored that this will be the year that Apple brings 5G to some iPhones, though there have been reports that 5G models might ship later than the usual September release window. Other products rumored for release this year or early next year include premium Apple-branded headphones, a redesigned iMac, the first Macs running Apple’s own silicon, a Tile-like tracking device, and more. Apple has already revealed many of the new software features coming to iOS 14, iPadOS 14, macOS Big Sur, watchOS, and tvOS, with public betas now available for most of the updates. Apple declined to provide earnings guidance for this quarter due to continued uncertainty from the COVID-19 pandemic, and it’s not doing so for the fourth quarter either. After briefly reopening them to customers, Apple has had to reclose a number of its retail stores in the United States as COVID-19 cases spike across many states. Stores that remain open are operating at limited capacity and require temperature checks before people can enter. Both employees and shoppers must wear face masks. Photo by Jeff J Mitchell/Getty Images The pandemic has also pushed back Apple’s original time frame for returning to work at its offices. The company has “kicked the time period” back to early next year, Cook told Bloomberg. Apple’s earnings report comes one day after Cook testified alongside fellow Big Tech executives Jeff Bezos, Sundar Pichai, and Mark Zuckerberg as lawmakers continue to investigate potential antitrust violations and whether the massive companies now wield too much power. In Cook’s case, the House Judiciary Committee mainly pressed Apple’s chief executive on how the company runs the App Store and the subscription fees it collects from developers. “We apply the rules to all developers evenly,” Cook said, though documents obtained by the committee suggest companies like Amazon have gotten special treatment. But that was yesterday. Cook had a more triumphant tone today. “In uncertain times, this performance is a testament to the important role our products play in our customers’ lives and to Apple’s relentless innovation,” he said in the earnings press release. Apple reports strong Mac and iPad sales in record-breaking Q3 earnings
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