What an afternoon for big tech

Jay Soloff

What an afternoon for big tech! Both MSFT and AMZN are up after hours (5% and 8% respectively as of this writing) on very positive earnings results. MSFT crushed expectations with $18.5 billion in revenue compared to analysts' projections of $17.8 billion, and EPS of $0.62 compared to forecasts of $0.54. Enterprise revenues led the surge. Meanwhile, AMZN's revenues came in at $17.1 billion, higher than the projected $16.7 billion, and posted a loss of $0.09 per share, roughly in line with estimates. The growth is sales is due to aggressive expansion and penetration into overseas markets. The US markets will likely get a boost tomorrow with the strong results from both powerhouse tech/retail companies.


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