Friday’s Headlines: Amazon Soars After Huge Earnings Beat 📦
1. Amazon beat expectations for its fourth fiscal quarter of 2019, with revenue of $87.4 billion, and earnings per share of $6.47, versus expectations of $86.01 billion in revenue and earnings per share of $4.04. North American sales were up 22% to $53.6 billion, while international sales grew 14% to $23.8 billion. Amazon gave first-quarter revenue guidance in the range of $69.0 billion and $73.0 billion, with the company expected to cross the $1 trillion mark again following the report. Get the full story here.
2. Facebook stock closed Thursday down 6.1% after it reported fourth-quarter earnings Wednesday evening, erasing more than $30 billion from the social media giant’s market cap. The decline comes after Facebook reported a 51% rise in expenses compared with its total in 2018, largely related to the company’s privacy and security improvements. “It’s going to take time, but over the next decade I want us to build a reputation on privacy that’s as strong as our reputation already building good, stable services,” CEO Mark Zuckerberg said. Get the complete story here.
3. ServiceNow earnings and revenue blew past fourth-quarter analyst estimates Wednesday, sending shares up 9%. The enterprise software maker said adjusted earnings rose 25% to $0.96 a share, while revenue climbed 33% to $951.8 million, driven by an acceleration in subscription bookings caused by large-deal activity. The stock is up 20% over the past month compared to the S&P 500’s gains of about 1%. Get the full story here.