Microsoft Tops $60 Billion in Annual Earnings for the First Time and Tesla Beats Earnings Expectations
Microsoft Corporation is an American multinational technology company that produces computer software, consumer electronics, personal computers, and related services. Microsoft sits above a trillion-dollar market cap, making it the third U.S. public company to be valued at over $1 trillion after Apple and Amazon, respectively.
Microsoft has been competing in the cloud computing space for a while now, and it has become a prime driver of revenue for the company. In just the last few months they even released a “Cloud PC.” The Windows 365 PC-as-a-Service streams the operating system and includes data, apps, and settings. This week their earnings reflect the strength of the technology and user base with the company seeing revenue of $46.15 billion, a quarterly record and up from $38.03 billion this quarter a year ago.
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla’s current products include electric cars, battery energy storage from home to grid-scale, solar panels, and solar roof tiles, as well as other related products and services. Tesla has performed with high volatility over the past few years, reaching major milestones in its price and making some investors a fortune.
In the past few months, the trend has seen less volatility as the electric vehicle space has become increasingly crowded out and competitive – decreasing investor confidence in Tesla as only one company in the picture. Yet, this week, Tesla solidified their company despite all this competition with their strong earnings report . Tesla posted a profit of $1.1 billion and set a record number of deliveries for the quarter. Not only do many analysts still think the stock has room to grow next year, but Elon Musk (as he mentioned in the earnings call) reported that Tesla is “certainly planning for a potential doubling of their volume in 2022”.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.