Apple, Amazon, and Meta Platforms have made significant strides in their recent earnings, leading the pack in an active earnings season. Apple reported a 4% increase in earnings per share, with sales hitting $58.31 billion, surpassing expectations for its fiscal second quarter. Amazon's revenue soared by 26% to $75.5 billion, while Meta's earnings shot up by 203%, with a corresponding 25% increase in revenue growth as reported by inkl.com.
Despite these successes, challenges loom, with Apple's iPhone revenue declining and Amazon falling short on earnings, partly due to anticipated $4 billion COVID-related expenses in the coming quarter. Apple's decision not to offer guidance for the next quarter highlights the economic uncertainties. Meanwhile, Meta announced a significant share buyback program and saw a 17% stock surge following its results.
President Trump's tariffs, including 25% on imports from Canada and Mexico and 10% on goods from China, have notably impacted market dynamics. Companies like Apple, with considerable production in China, face rising costs, spurring discussions on potential supply chain adjustments. Tariff-induced volatility saw tech leaders like Apple and Amazon contributing to market declines, as reported by thestreet.com.