US top stocks miss expectations and gap down 2.00%-7.00%

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Source: Dukascopy Bank SA


Last night, three top US companies Apple, Alphabet and Amazon have published their quarterly earnings results. In general, all companies have missed earnings and revenue estimates, which were already reduced due ongoing decline of consumer demand.

Apple missed earnings per share by 3.03%. Earnings came in at $1.88 instead of expected $1.939. Total revenues were below expectations by 3.44%. The company reported total revenue of $117.154 billion instead of $121.333 billion.

Amazon has suffered due to cost increases, as it reported better than expected revenues, but abysmal earnings. Namely, revenue was higher by 2.40% and earnings were 82.75% below expectations. The retailer's revenue was $149.204 billion instead of $145.713. Meanwhile, earnings per share were only $0.03 instead of expected $0.174.

Alphabet earnings per share were 10.73% below expectations and total revenue forecast was missed by 0.17%. Earnings per share were $1.05 instead of $1.176 and revenue was $76.048 instead of $76.179 billion.

In addition, the stock market is being beat down due to the today's surge of the US Dollar. The USD is boosted by overwhelmingly good US Employment data. The data was released at 13:30 GMT.
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Wed, 08 Feb 2023 14:37:50 GMT

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