Recap: Google, Apple, Facebook, Amazon and Comcast Q2 Earnings

Dan Rayburn | Thursday July 30, 2020 | 08:07 PM | Comments (0)

Alphabet Q2 Earnings: Google’s first ever revenue decline, ad revenue down 8%. Total revenue $38.6 billion, down 2%; YouTube ad revenue $3.8 billion, up 6%, but down from $4.04 billion in Q1; Cloud revenue $2.7 billion, up 43%.

  • Total revenue of $38.6 billion, down 2%, total profit overall of $6.4 billion
  • Ad revenue down 8%, a first for Google who’s previous advertising revenue had risen every quarter of its 22-year history
  • YouTube ad revenue of $3.8 billion, up 6%
  • Cloud revenue of $2.7 billion, up 43%
  • Google’s board of directors has authorized an additional stock buyback of $28 billion
  • No update on the number of YouTube TV subscribers
  • Stock is up $11.63 (+0.76%) after hours, as of 6:09pm ET

Apple Q2 Earnings: Announces 4-for-1 stock split. Revenue of $59.7 billion, up 11%, Services revenue of $13.1 billion, up 14.8%; iPhone revenue of $26.4 billion, up 1.6%. (all y/o/y) No guidance for Q3. More details:

  • Announces 4 for 1 stock split
  • Will release its fall update of iPhone models a few weeks later than usual, pushing the release into October
  • iPhone revenue of $26.4 billion, up 1.6%
  • Services revenue of $13.1 billion, up 14.8%
  • Mac revenue: $7.08 billion, up 21%
  • iPad revenue: $6.58 billion, up 31%
  • Other Products revenue: $6.45 billion, up 14.8%
  • Sales in China rose slightly to $9.33 billion
  • Stock is up $16.54 (+4.93%) after hours, as of 4:46pm ET

Amazon Q2 Earnings: $88.9 billion, up 41% y/o/y; AWS revenue of $10.8 billion, up 29% y/o/y. Invested $9 billion in capital projects. More details:

  • Revenue of $88.9 billion, up 41%
  • AWS revenue of $10.8 billion, up 29%
  • Amazon provided a one-time Thank You bonus totaling over $500 million to all front-line employees and partners who were with the company throughout the month of June
  • Invested over $9 billion in capital projects, including fulfillment, transportation, and AWS
  • Prime Video introduced Prime Video Profiles, allowing customers to create and manage up to six profiles within a single account
  • Announced new live content integrations on Fire TV from YouTube TV and Hulu, and expanded discovery options including the new Free tab which helps customers find free movies, TV shows, and more
  • Amazon expects to spend roughly $2 billion in coronavirus-related costs during Q3
  • Stock is up $186.12 (+6.10) after hours, as of 4:27pm ET

Facebook Q2 Earnings: $18.69 billion; Monthly active users of 2.7 billion, increase of 12%; Daily active users of 1.79 billion, increase of 12%. More details:

  • Facebook daily active users (DAUs) – DAUs were 1.79 billion on average for June 2020, an increase of 12% year-over-year
  • Facebook monthly active users (MAUs) – MAUs were 2.70 billion as of June 30, 2020, an increase of 12% year-over-year
  • Family daily active people (DAP) – DAP was 2.47 billion on average for June 2020, an increase of 15% year-over-year
  • Family monthly active people (MAP) – MAP was 3.14 billion as of June 30, 2020, an increase of 14% year-over-year
  • Expects quarter year-over-year ad revenue growth rate for the third quarter of 2020 to be roughly similar to this July performance
  • Stock is up $13.00 (+5.14%) after hours, as of 4:15pm ET

Comcast Q2 Earnings: Lost 477,000 pay TV subscribers; 10 million sign ups for Peacock TV; Revenue of $23.7 billion, a decrease of 11.7% year-over-year. More details:

  • Cable Communications Total Customer Relationships Increased by 217,000 in the Quarter, the Best Second Quarter Result on Record
  • Total High-Speed Internet Customer Net Additions Were 323,000, the Best Second Quarter Result in 13 Years
  • Broadcast Television revenue decreased 1.6% to $2.4 billion, reflecting lower advertising revenue, partially offset by higher content licensing revenue and distribution and other revenue
  • Filmed Entertainment revenue decreased 18.1% to $1.2 billion in the second quarter of 2020, primarily reflecting lower theatrical revenue
  • Cable capital expenditures represented 9.3% of Cable revenue compared to 10.3% in 2019
  • Launched Peacock, NBCUniversal’s New Highly Anticipated Streaming Service, Free to Xfinity X1 and Flex Customers on April 15, Ahead of National Debut on July 15, With 10 Million Sign-Ups to Date
  • Sky Successfully Retained 99% of Total Customers and 95% of Sports Subscribers
  • Stock is down $0.16 after hours, as of 10:26pm ET
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