The Largest USA Tech Companies reported softening profits from the prior quarter, which is not unusual this time of year on an annual cyclical basis. Only 3 of the 10 companies reviewed reported sequential quarterly increases (Oracle, IBM, Intel).
First, HP (HPQ) is not included in the chart below. HP, which is among the walking wounded, reported a disastrous quarter and a chart-busting -656% decrease in net income QoQ. HP reported a net loss of -$8.86 billion for their latest quarter, compared to net income of +$1.59 billion in the prior quarter. Including HP skews the chart and obscures the data.
Reporting net income increases quarter over quarter were Oracle (ORCL) (+38%), IBM (+27%), and Intel (INTC) (+3%). Reporting a decrease in net income from the prior quarter were Google (GOOG) (-4%), Cisco (CSCO) (-11%), Apple (AAPL) (-24%), and Qualcomm (QCOM) (-46%). The Big Losers were Amazon (AMZN) (-95%), Microsoft (MSFT) (-110%), and the aforementioned HP (-656%). The second calendar quarter is typically slower and a quarterly drop for many tech companies in total revenues, net income, and earnings per share.
Net Income: Year over Year Change
The Largest USA Tech Companies reported more positive results from the prior year, compared to the prior quarter. 6 of the 10 companies reviewed reported YoY increases. Cisco (+56%) and Apple (+21%) led the way, followed by Qualcomm (+17%), Google (+11%), Oracle (+8%), and IBM (+6%). The remainder lost ground and some lost huge territory. Intel (-4%), Amazon (-96%), Microsoft (-108%), and HP (-560%) reported decreases year over year.
HP is not included in the chart below. Including HP skews the chart and obscures the data.
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Big Tech Profits Soften: HP, Microsoft, Amazon Plunge
Published 08/28/2012, 05:40 AM
Updated 07/09/2023, 06:31 AM
Big Tech Profits Soften: HP, Microsoft, Amazon Plunge
Net Income: Quarter over Quarter Change
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