Canindia News

After US hearing, Big Tech CEOs get ready to reveal Q2 earnings

San Francisco, July 30 (IANS) After testifying before a US Congress hearing over anti-trust allegations, the CEOs of the four Big Tech companies Amazon, Alphabet (that owns Google), Apple and Facebook were ready for another big test, as they settled to reveal the financial results of their second quarters post-market close in the US late on Thursday.

The four tech giants are worth nearly $5 trillion in combined market capitalisation, with Apple stock and Amazon stock both over $1.5 trillion.

Analysts and market watchers would keep an eye on figures and trends in e-commerce, streaming, advertising, search, app stores, social media and cloud computing.

Facebook rescheduled its second quarter results from Wednesday to Thursday owing to the conflict as Zuckerberg was to testify before the House Judiciary Committee and the Antitrust Subcommittee.

The shares of all Big Four tech giants slightly rose after the Congressional hearing as the market opened.

The CEOs — Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, Sundar Pichai of Google and Tim Cook of Apple — pushed back against accusations during a US Congress panel hearing on Wednesday, capping a year-long investigation into these companies’ market domination online.

Amid intense grilling on issues that centred on market power derived from uninhibited collection and access to data, all four CEOs focused their attention on the value of their innovations and services to consumers. They testified via video link to lawmakers in Washington DC.

–IANS

na/vd

YOU MAY ALSO BE INTERESTED IN

Sony says more PlayStation 5 stock coming by year end

AWS suffers huge outage in US, several websites, apps down

CanIndia New Wire Service

‘Hang on!’: Biden urges Americans to avoid big Thanksgiving, wait for vaccine

CanIndia New Wire Service

Trump announces pardon for Flynn, former security adviser who lied to FBI

CanIndia New Wire Service

Pennsylvania court halts certification of election results

CanIndia New Wire Service

Pak military in a huddle after India briefs foreign envoys on Nagrota

CanIndia New Wire Service

UAE stops visas to Pak, 12 other countries on security concerns

CanIndia New Wire Service

Meghan Markle reveals she had a miscarriage this summer

CIEDITOR-TWINKLE

Father Christmas will visit you, UK PM assures 8-year-old

CanIndia New Wire Service

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More