
Two of the Magnificent 7 reported quarterly earnings after the close on Thursday. One good. One bad.
Apple (AAPL) beat the Wall Street consensus for its fiscal third quarter, but the stock slumped 4% afterhours due to its Services segment missing the consensus. Apple’s Services segment saw revenue gain 12% YoY to $30.74 billion, but that figure was short of the $31.36 billion that Wall Street expected.
Overall, outgoing CEO Tim Cook reported GAAP earnings per share (EPS) of $2.02, which was 13 cents better than consensus, on top of $109.42 billion in revenue, which rose 16% YoY and beat the consensus by $460 million.
Revenue in Greater China also rose 22% YoY to $18.82 billion, but that figure was about $800 million shy of consensus.
In contrast, Amazon (AMZN) stocked jumped 8% afterhours following a Q2 report that showed $5.75 in GAAP EPS, $3.92 above the Street’s consensus. Revenue of $200.6 billion beat the consensus by more than $4.1 billion and rose nearly 20% YoY.
A big part of that was Amazon Web Services (AWS), its cloud division. That segment grew revenue to $42.2 billion, up 37% YoY. That growth rate was substantially higher than the 28% rate it reported in Q1.


