The company will be reporting its data on Friday. What should you know?
Google & Microsoft Showed Strong Q3 Earnings
Information is not investment advice
Google and Microsoft – the US largest tech companies have published strong financial results for the third quarter.
- EPS: $27.99 (forecast: $23.75)
- Revenue: $65.12B (forecast: $63.47B)
- YouTube advertising revenue: $7.20B (forecast: $7.4B)
- Google Cloud revenue: $4.99B (forecast: $5.07B)
Google has shown great earnings and revenue results this quarter that topped analysts' estimates. Advertising and Cloud revenues grew significantly since the same quarter last year but still came out slightly worse than expected. Indeed, the company is facing major antitrust lawsuits now. What are they about?
First, Google has taken 42% of all the money spent on online ads, according to the US court. This signals that Google is a monopolist in online advertising and it can use its power to reduce the competition.
Second, Google has colluded with Facebook to work around Apple's privacy settings to keep tracking their users. Apple has offered its users a choice: to allow or to not allow apps to track them. This initiative has affected negatively ads-oriented companies such as Facebook and Google. However, Google has its Android operating system, that’s why it’s better protected than Facebook.
Google has broken above the 50-day moving average and confirmed the bullish strength. Now, it can rally freely to the resistance level of $2900. Support levels are the recent low of $2745 just above the 100-day MA and the September trough at $2660.
- EPS: $2.27 (forecast: $2.07)
- Revenue: $45.32B (forecast: $43.93B)
Microsoft has revealed a stronger-than-expected set of results for the third quarter. The total revenue rose almost 22% on annual basis. That marked the fastest growth since 2018. Microsoft claimed Azure and other cloud services surged 50% year over year in the 3rd quarter. It’s a great result which has beat even Microsoft’s forecast made 3 months ago.
The stock of Microsoft has hit a record high! It has opened with a gap up near $320.00. If it manages to jump above it, the way up to the next round number of $325.00 will be open. Support levels are the low of October 25 and the 50-day moving average of $300.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
- Open an account in FBS Trader or the MT5 account in your personal area.
- Log in!
What will change for investors and traders as Facebook completes the transformation?
On October 28 European Central Bank held a press conference. Inflation has hit Europe and now the time has come for more profound steps in the fight with the post-pandemic economy. What should we know to trade these events?
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is gyrating slightly below the lower level of the cloud…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is trading between the Kumo and the Tenkan sen level…
USD/TRY belongs to the exotic group of Forex currency pairs, that’s why traders don’t trade it regularly. However, these days this pair is in the focus of all the trading community!