Major tech companies publish Q2 results
Returns chart for major Tech Stocks (Source: Google Finance)
The second quarter of 2023 saw the Magnificent Seven tech giants – Meta, Alphabet, Microsoft, and Tesla – release their earnings reports, showcasing their performances and growth strategies in the current economic landscape. Meta, formerly known as Facebook, displayed a strong network effect moat source as its user base across all apps increased, and engagement remained healthy. Advertisers showed confidence in Meta’s enhanced and artificial intelligence-powered campaign planning and measurement capabilities. With total revenue reaching $32 billion, Meta reflected faster revenue growth and strong long term margin. Alphabet, the parent company of Google, reported solid performance driven by growth in search, cloud, and a turnaround in YouTube. Google’s core search business displayed a strong network effect moat source, and YouTube’s ad revenue returned to growth due to improved monetization and...
