 has reported impressive impressive fourth quarterly results, amounting to almost $2 billion in the three months leading){kind=link}
Amazon (NASDAQ: AMZN) has reported impressive fourth quarterly results, amounting to almost $2 billion in the three months leading up to Christmas.
News of the results sent the tech giant’s shares rocketing by over four percent and founder Jeff Bezos’ net worth to a total of over $119 billion.
“Our 2017 projections for Alexa were very optimistic, and we far exceeded them. We don’t see positive surprises of this magnitude very often — expect us to double down,” said Bezos in a statement.
Amazon posted revenues of $60.5 billion for the last quarter of 2017, which is up from $43.74 billion in the same period of 2016.
Apple (NASDAQ: AAPL) and Google, who both posted results at the same time, were less fortunate.
Despite the firm’s best ever quarterly revenues, shares in Apple were shaky in after-hours trading.
Apple made a record-breaking $88.3 billion in revenues over the last quarter of 2017, however, iPhone sales were down 0.9 percent compared to the same period a year before – despite three new models.
Apple’s CEO, Tim Cook, said: “We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November.”
Owner of Google, Alphabet (NASDAQ: GOOG), performed less well in the three months coming up to Christmas.
The company posted losses after dealing with a $9.9 billion charge that was related to the new US tax law. Trump’s tax changes are expected to be beneficial to the company in the long run.
The firm’s expenses increased by 27 percent to $24.7 billion in 2017’s fourth quarter compared to the same period a year earlier. Alphabet is increasing spending to promote its consumer gadgets, YouTube video app and cloud computing services.