With the exception of Netflix, the ‘FAANG’ stocks delivered impressive results in the second quarter.

Facebook’s results (24 July) came just hours after the Federal Trade Commission (FTC) announced a $5bn settlement for its morass of privacy abuses.

Revenue was up 28% with monthly/daily active users both up 8%. The Securities and Exchange Commission (SEC) meanwhile fined Facebook another $100m.

Amazon’s results (25 July) were more mixed; sales beat forecasts but earnings missed, and the shares subsequently eased on weaker third-quarter profit guidance. Revenue jumped a whopping 20% (to $63.4bn) but, thanks to a c$800m investment to make one-day shipping the default for US Prime members, profits fell putting an end to four straight record quarters.

Meanwhile, Amazon Web Services (AWS) reported 37% growth after 41% in the previous quarter.

Apple revenues hit a record $53.8bn although profits fell to $10bn from $11.5bn a year ago. Its services division hit a record, ‘wearables’ gained ground and iPhone trends improved according to CEO Tim Cook, who also promised a slew of new product and service launches.

Netflix shares fell 10% on its results (17 July) following a rare loss in US subscribers and a big miss for new international subscribers. Earnings per share beat expectations while revenue (of $4.9bn) was up 26% on a year ago.

It blamed its content slate for the weaker quarter but was confident of a stronger third quarter on the back of new seasons of Stranger Things, Orange is the New Black and The Crown.

Google (Alphabet) reported higher than expected revenue ($38.9bn) that was up 19% with profits sailing past $9bn. Google’s reporting remains convoluted, but its leaders revealed that YouTube and Google Cloud were among the top contributors to revenue growth.

With the exception of Netflix, the ‘FAANG’ stocks delivered impressive results in the second quarter.

Facebook’s results (24 July) came just hours after the Federal Trade Commission (FTC) announced a $5bn settlement for its morass of privacy abuses.

Revenue was up 28% with monthly/daily active users both up 8%. The Securities and Exchange Commission (SEC) meanwhile fined Facebook another $100m.

Amazon’s results (25 July) were more mixed; sales beat forecasts but earnings missed, and the shares subsequently eased on weaker third-quarter profit guidance. Revenue jumped a whopping 20% (to $63.4bn) but, thanks to a c$800m investment to make one-day shipping the default for US Prime members, profits fell putting an end to four straight record quarters.

Meanwhile, Amazon Web Services (AWS) reported 37% growth after 41% in the previous quarter.

Apple revenues hit a record $53.8bn although profits fell to $10bn from $11.5bn a year ago. Its services division hit a record, ‘wearables’ gained ground and iPhone trends improved according to CEO Tim Cook, who also promised a slew of new product and service launches.

Netflix shares fell 10% on its results (17 July) following a rare loss in US subscribers and a big miss for new international subscribers. Earnings per share beat expectations while revenue (of $4.9bn) was up 26% on a year ago.

It blamed its content slate for the weaker quarter but was confident of a stronger third quarter on the back of new seasons of Stranger Things, Orange is the New Black and The Crown.

Google (Alphabet) reported higher than expected revenue ($38.9bn) that was up 19% with profits sailing past $9bn. Google’s reporting remains convoluted, but its leaders revealed that YouTube and Google Cloud were among the top contributors to revenue growth.