Apple, Amazon, Google hit earnings milestones
Tech giants delivered strong fourth-quarter earnings reports with each company hitting a notable milestone, but had a few misses.
- Apple reported record quarterly revenue and per-share earnings thanks to the iPhone X, but disappointed on its outlook for the current quarter. iPhone unit sales also fell short.
- Amazon beat estimates for the fourth quarter, which was the first where the company drew a profit of more than $1 billion.
- Google missed estimates on earnings per share, but beat revenue estimates thanks to strong advertising growth. Its cloud business brought in more than $1 billion in revenue, a notable milestone. It also announced former Stanford University president John Hennessy is its new board chairman, replacing Eric Schmidt.