Connect with us

Business

Tech Giants Amazon and Pinterest Impress with Earnings, Starbucks and Super Micro Computer Disappoint

Published

3 months ago

on

Times News Global Featured Image

Tech giants Amazon and Pinterest reported contrasting earnings results in the latest financial quarter, with Amazon exceeding expectations while Pinterest showed substantial growth. Amazon

beat analyst forecasts with earnings of 98 cents per share on a revenue of $143.31 billion, driven by the success of its advertising and Amazon Web Services segments. However, the second-quarter revenue forecast fell short of estimates, impacting the stock performance despite the positive results.

Meanwhile, coffee chain Starbucks disappointed investors as it missed earnings and revenue expectations. Starbucks

posted earnings of 68 cents per share on a revenue of $8.56 billion, falling short of the analyst consensus. The stock plummeted nearly 10% in after-hours trading as a result of the underwhelming performance.

In the tech sector, Pinterest shares surged almost 19% after the company delivered an earnings and revenue beat in the first quarter. Pinterest reported adjusted earnings of 20 cents per share, exceeding analyst forecasts and showcasing accelerated revenue growth, pleasing investors.

On the other hand, Super Micro Computer faced a setback as it missed revenue expectations for the fiscal third quarter. The chip company

reported a revenue of $3.85 billion, below the consensus estimate of $3.95 billion, causing the stock to drop more than 7% in extended trading. Despite beating adjusted earnings per share estimates, the revenue miss impacted investor sentiment.

Rachel Adams

Times News Global is a dynamic online news portal dedicated to providing comprehensive and up-to-date news coverage across various domains including politics, business, entertainment, sports, security, features, opinions, environment, education, technology and global. affairs. Our commitment lies in sharing news that is based on factual accuracy, credibility, verifiability, authority and depth of research. We pride ourselves on being a distinctive media organization, guided by the principles enshrined in Article 19 of the Universal Declaration of Human Rights. Made up of a team of ordinary people driven by an unwavering dedication to uncovering the truth, we publish news without bias or intimidation.