Microsoft (MSFT) beat both expectations on revenue and EPS, its seventh time doing so in the last eight quarters. Revenue growth topped 14% since last year with the highest growth coming from Microsoft’s Intelligent Cloud department. Microsoft surpassed $1 trillion in market cap on Thursday, becoming the third US company to achieve the feat.
Amazon (AMZN) doubled its profits year over year, but the company announced that it will be losing roughly $800 million in cutting delivery time for Prime members from two days to one. The company’s stock increased over 2% on Friday following the news.
Tesla (TSLA) posted worse-than-expected losses as demand decreased due to slowed delivery volumes and pricing adjustments. In addition, CEO Elon Musk targeted Panasonic, the company’s supplier of lithium-ion cells, in one of his tweets over the weekend blaming the company for its slowed Model 3 production. The company’s stock fell 6% following the news.