Takeaways From Apple, Facebook, Tesla's Results
Apple and Facebook topped already-high expectations for the holiday quarter, while Tesla's results were mixed. Here’s a look at the numbers:
- Apple turned in its most profitable quarter ever, fueled by an uptick in higher-end iPhone sales and a pandemic-induced surge in demand for its laptops and tablets.
- Facebook posted record revenue and profit as online holiday shopping and increased use of the company’s platforms during the pandemic drove a surge in its ad business. But its shares fell as it warned of headwinds to its ad business this year amid new curbs on pulling users' data for ad targeting.
- Tesla reported its first full-year profit, powered by a growing appetite for electric cars, although supply-chain costs pulled profit for the October-December quarter short of analysts' expectations.
- Samsung Electronics reported a 26% boost in its fourth-quarter net profit as the world’s largest maker of smartphones and memory chips continues to ride demand for its products amid the pandemic.
- In other earnings, casino operator Las Vegas Sands Corp. reported a 67% decline in revenue, hit by pandemic-era curbs on occupancy and travel, and Whirlpool Corp. said shortages of some appliances would likely continue for months as it struggles to meet strong demand.
