In one of the busiest days for earnings this quarter, Amazon, Snap, and Google parent company Alphabet all posted results after the bell Thursday. Here's what you need to know about the numbers. **Amazon ($AMZN)** * The e-commerce giant posted earnings well above analyst expectations, with profit coming in at $5.75 a share vs. forecasts for $3.14. * Revenues, though, fell short of expectations, rising 29 percent to $56.6 billion. Analysts were looking for sales of $57.1 billion. * The company's cloud business continued to shine. Amazon Web Services posted revenues of $6.7 billion, up more than 45 percent from a year ago. * Ad sales more than doubled to $2.5 billion, and revenue from subscription services like Prime rose 50 percent to $3.7 billion. * Shares fell as much as 5 percent after the results. * The stock is down nearly 20 percent since the company briefly hit the $1 trillion market cap in late August. **Alphabet ($GOOGL)** * Google's parent company beat analyst expectations for both earnings and revenue. Net income rose to $9.2 billion from $6.73 billion a year ago, while sales rose more than 20 percent to $33.7 billion. * Ad revenues rose 20 percent to nearly $29 billion, but traffic acquisition costs (TAC), a measure of how much the company pays its ad partners, were also up to $6.6 billion. Rising TAC can be a worry to investors, as it might signal pressure on margins. * Separately, Google also made headlines Thursday after a [New York Times](®ion=rank&module=package&version=highlights&contentPlacement=1&pgtype=sectionfront) report detailing how the company covered up an investigation into sexual harassment claims against former exec Andy Rubin, considered the "Father of Android." The tech giant reportedly gave him a $90 million exit package, even though its probe supported the accusations. * In a letter to employees, CEO Sundar Pichai responded to the report, saying the company had fired 48 people, including 13 senior execs, because of sexual harassment claims over the last two years. * Alphabet shares were down as much as 7 percent after hours. **Snap ($SNAP)** * Shares of the social messaging app company were choppy after its earnings report, first spiking 5 percent higher before reversing course. * The company posted better than expected revenue of $298 million, compared to forecasts for $283 million. It also reported a smaller-than-expected loss of $0.12 a share. * But the company continues to shed users after its widely-panned app redesign announced last November. Daily active users came in at 186 million for the third quarter, up from 178 million last year, but down from 188 million in the previous quarter. That marked its second straight decline in usership. * Things don't appear to be getting better for the fourth quarter ー Snap said revenue at the end of the year would be between $355 million and $380 million, mostly below analyst estimates of $371 million. The company said that factors in a sequential loss in earnings. * Earlier this year, [Cheddar reported]( that Snap CEO Evan Spiegel had set a goal of being profitable next year.

More In Business
Load More