Although the Federal Reserve earlier mentioned continued inflation coupled with a recovering economy, the bank had decided to keep interest rates unchanged.
The surge in Facebook revenue in Q1 can be attributed to a 30% rise in the average price per advertisement.
Apple recorded a revenue of $89.58 billion in Q1 versus $77.36 billion expected by analysts according to a survey conducted by Refinitiv.
According to Facebook CEO Mark Zuckerberg, they are “investing in building the future of commerce.”
Cryptocurrencies, especially Bitcoin, have seen a massive surge over the past year amid its growing adoption among retail and institutional investors.
Microsoft revealed that revenue in the Intelligent Cloud increased by 23% to $15.1 billion.
According to Goldman Sachs, many of the indicated stocks have “dramatically outperformed” the broader stock market.
Alphabet stock has jumped 85.87% over the past year and has added 30.72% in its year-to-date record.
It is now the season of S&P 500 big tech companies reporting their first-quarter earnings. By now, about 30% of them have reported results. Nearly 88% of reporting companies beat analysts’ expectations. However, only half of them saw their stocks rise after their reports.
The complete TIME100 list features 64 companies with headquarters in the US, including electric automaker Tesla, Twitter and Mastercard.
During the first three months of the year, BP reported that its net debt fell by $5.6 billion to $33.3 billion. Notably, the company hit its target of reducing net debt to $35 billion.
Strong earnings from big tech corporations are keeping the market momentum positive. However, the surge in commodity prices have fueled the fears of inflation as the consumer staples sector witnesses downward pressure.
Securrency will use the funds for further expansion, strengthening strategic partnerships, as well as developing compliant DeFi products.
The Toyota’s Woven Planet acquisition of Lyft’s Level is billed to save the latter firm $100 million of operating expense.
GameStop stock has grown about 2,800% in the last twelve months, and 796.66% since 2021 began.