Tech Investors Focus on Profits After Layoffs; Companies to … – U.S News & World Report Money
Reuters
By Nivedita Balu and Tiyashi Datta
(Reuters) – A quarter into record layoffs, investors in U.S. tech giants will scrutinize if the cost cuts boosted profits to their satisfaction, while the companies emphasize how artificial intelligence will be their next growth driver.
Microsoft Corp, Google parent Alphabet Inc, Instagram owner Meta Platforms Inc and Amazon.com Inc all report quarterly results this week.
Together, they command more than $5 trillion in market capitalization, or more than 14% of the value of the S&P 500 index.
Between Microsoft, Alphabet and Meta, analysts expect profits to rise 4.5%, on average, from the immediately preceding quarter, led by an 11.8% jump in Meta’s bottom line, according to Refinitiv. From a year earlier, profit is expected to slump nearly 16%, on average, with Microsoft expected to perform the least poorly with a 0.5% slip.
These three companies, along with Amazon, said between November and March they would slash 70,000 jobs in a…
The post Tech Investors Focus on Profits After Layoffs; Companies to … – U.S News & World Report Money first appeared on SEO, Marketing and Social News | OneSEOCompany.com.
source: https://news.oneseocompany.com/2023/04/24/tech-investors-focus-on-profits-after-layoffs-companies-to-us-news-world-report-money_2023042443911.html
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.