1. Google’s parent company Alphabet reported adjusted quarterly profit of $6.8 billion in the fourth quarter of 2017, missing analysts’ estimates of $7 billion. Alphabet saw fourth quarter sales climb to $32.3 billion. At the same time, the company reported a 27 percent increase in expenses to $24.7 billion in the fourth quarter of 2017, compared to the same period a year prior. The company also took a one-time $9.9 billion tax charge under new U.S. tax legislation in the fourth quarter of 2017.
2. Apple recorded revenue of $88.3 billion in the first quarter of fiscal year 2018, an increase of 13 percent from the same period of the year prior and an all-time record. Apple’s profit grew from $17.9 billion in the first quarter of fiscal year 2017 to a record of $20.1 billion in the first quarter of fiscal year 2018.
3. Including a gain under new U.S. tax law, Boeing nearly doubled net income in the fourth quarter of 2017 to $3.1 billion, compared to $1.6 billion a year prior. Boeing expects between 810 and 815 commercial aircraft deliveries this year. This is as much as a 7 percent increase on the industry record of 763 aircraft it delivered last year.
4. Facebook ended the fourth quarter of fiscal year 2017 with $4.3 billion in net income, up 19.6 percent from $3.6 billion reported during the same period a year prior. Facebook’s fourth quarter revenue jumped 47.3 percent to $13 billion, while expenses increased 32.5 percent to $5.6 billion.
5. For the second quarter of fiscal year 2018, Microsoft saw revenue climb 12 percent to $28.9 billion. Microsoft ended the second quarter of 2018 with a $6.3 billion net loss, compared to net income of $6.3 billion in the same period a year prior. The company took a $13.8 billion net charge under new U.S. tax law in the second quarter of 2018.
6. Qualcomm also took a hit under U.S. tax reform, contributing to a $6 billion loss in the first quarter of fiscal year 2018. At the same time, Qualcomm saw revenue of $6.1 billion in the first quarter of 2018, up 1 percent from the same period a year prior.
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