Magnificent Seven earnings: Amazon and Apple beat expectations but shares drop

Amazon and Apple beat expectations when they published their earnings reports on 1 May, but shares dropped in after-hours trading as investors honed in on other key metrics

Summary

  • Amazon and Apple both reported their quarterly results on 1 May after US markets closed.
  • Amazon beat consensus estimates on earnings per share (EPS), which came in at $1.59, up 62% from a year ago.
  • At $155.7 billion, revenues were roughly in line with consensus estimates.
  • Apple beat expectations on both earnings and revenues.
  • EPS came in at $1.65, up 8% from a year ago. Analysts had forecast $1.61.
  • Revenue came in at $95.4 billion, up 5% from a year ago. Analysts had forecast $94 billion.
  • Despite beating expectations, shares in both companies dropped in after-hours trading, as investors honed in on mediocre revenue growth in Amazon's cloud computing business and Apple's services arm.
  • Tesla, Alphabet, Meta, Microsoft, Apple and Amazon have all now published their results. The only Magnificent Seven company yet to report is semiconductor giant Nvidia.
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Tesla earnings release kicks off Magnificent Seven results

When does Tesla announce earnings?

Deliveries and DOGE

The DOGE days are over?

Tesla shares down at start of earnings week

Tesla and tariffs

What do analysts expect from Magnificent Seven results season?

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Ticker

Earnings per share ($)

Sales ($ million)

GOOGL

2.01

89,248

AMZN

1.37

155,097

AAPL

1.61

93,932

META

5.24

41,427

MSFT

3.23

68,513

NVDA

0.91

43,177

TSLA

0.43

21,452

Autonomy is key for Tesla

When are other Magnificent Seven companies announcing their results?

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Company

Earnings date

Time

TSLA

22/04/2025

After markets close (AMC)

GOOGL

24/04/2025

AMC

META

30/04/2025

AMC

MSFT

30/04/2025

AMC

AMZN

01/05/2025

AMC

AAPL

01/05/2025

AMC

NVDA

28/05/2025

AMC

Thanks for following the live blog today. We're going to wrap up here for this evening, but join us tomorrow when we'll have more build-up and analysis ahead of Tesla's earnings release tomorrow evening.

Tesla shares down ahead of earnings

Tesla earnings expected to fall

Analyst calls on Musk to step up

What time does Tesla announce earnings?

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Tesla earnings timeline

When (22 April unless specified)

What

2.30pm

US markets open

9pm

US markets close

9pm-10.30pm

Tesla posts Q1 2025 financial results

10.30pm

Tesla will host its post-earnings call

1am, 23 April

After-hours trading in the US closes

Tesla’s share price rise and fall

Tesla no longer one of America’s top 10

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S&P 500 - 11* largest companies by market cap

No.

Company Name

Market Cap ($ billion)

1

Apple Inc.

2,901.66

2

Microsoft Corporation

2,669.69

3

NVIDIA Corporation

2,364.60

4

Alphabet Inc.

1,812.14

5

Alphabet Inc.

1,800.10

6

Amazon.com, Inc.

1,775.66

7

Meta Platforms, Inc.

1,227.96

8

Berkshire Hathaway Inc.

1,093.66

9

Broadcom Inc.

781.51

10

Walmart Inc.

740.84

11

Eli Lilly and Company

734.57

12

Tesla, Inc.

731.76

Tesla shares make strong start to final session before earnings

Are the Magnificent 7 still driving the S&P 500?

Tesla’s earnings “all about guidance”

Tesla shares resurgent

Just over an hour to go until US markets close, and Tesla shares are still a little over 4% up today.

Will tonight's earnings release and analyst call keep investors on side?

Tesla closes 4.6% up ahead of earnings

BREAKING: Tesla reports earnings miss

Tesla shares falling in after-hours trading

Tesla puts revenue miss down to Model Y changeover

Affordable Tesla still on track?

Tesla’s net income falls 71%

Tesla’s energy revenue continues to impress

As a reminder, Tesla's earnings call will start at 10.30pm BST. We'll bring you live coverage from the call, so be sure to keep checking in for updates.

Musk leaving DOGE could lift sentiment after earnings miss

BREAKING: Musk to step back from work with DOGE

Tesla shares jump on Musk’s DOGE stepdown

Musk on tariffs

Musk reiterates the start of fully autonomous rides in June

Energy storage “doing very well” and scaling

Tesla's CFO, Vaibhav Taneja, is now speaking, and has commented on the impact of tariffs on Tesla's energy business.

Full self driving available by the end of the year

Musk confident of wide rollout of autonomous Teslas by 2026

Optimus production could be impacted by tariff war

Tesla says cheaper model will be based on existing designs

The earnings call has now concluded. Investors seem impressed with what they've heard: Tesla shares are up 4.8% in after-hours trading as things stand, though there's another hour of extended trading to go.

Recap: Tesla shares rise despite earnings miss

The future is autonomous for Tesla

Investors hope Musk can steer Tesla through competition

Musk’s DOGE off-ramp

Attention shifts to Alphabet’s earnings

When will Alphabet announce results?

What do analysts expect from Alphabet’s earnings?

Might OpenAI buy Google Chrome?

Is Google exposed to tariffs?

That's all from our live blog for this evening. Thanks for following today, and join us again tomorrow for more analysis and build-up ahead of Alphabet's earnings release.

Good morning, and welcome back to our live blog. Thank you for joining us, as global investors turn their attention to Google's results this evening.

Google earnings could land on a market down day

Is Google Cloud revenue growth slowing?

Ads at Alphabet’s core

A word on earnings guidance

Alphabet shares open higher ahead of earnings

Could Google Chrome be worth $50 million?

Beating earnings doesn’t guarantee a share-price rise

Tariffs shouldn’t hit Q1 advertising revenues – but what lies ahead?

Thank you for following our preview analysis today. We will be back in a few hours when Alphabet publishes its earnings at US market close (around 9pm UK time). To recap, here's what is expected:

Welcome back. Around ten minutes to go until US markets close. Alphabet is expected to announce its results soon after the bell.

BREAKING: Google announces EPS of $2.81, beating analyst expectations

Alphabet beats on earnings and revenue

Alphabet CEO: AI Overviews now has more than 1.5 billion users

Google Cloud operating income increases over 140%

Alphabet earnings call: Pichai points to AI success

Pichai highlights AI in Android and Google Search

YouTube ad revenue up 10% on 20th anniversary

Google’s chief business officer explains AI growth

Alphabet chief financial officer reaffirms capital expenditure plans

Google "not immune" to macro disruption

How is Google driving AI differentiation?

Alphabet's shares, having quickly gained around 4.5% after the results were published, then fell back a little as after-hours trading got underway.

Boosting Gemini users

Waymo to come?

The earnings call is now over. Overall, markets seem very happy with that: the stock surged in late trading as the results were announced, and they’ve pretty much maintained those gains during the following comments. GOOGL shares are up around 4.9%.

Welcome back – Alphabet still the “king of search”

Will “lingering concerns” about tariffs dampen Alphabet’s rally?

Apple shifting assembly to India?

What to expect from Apple’s earnings

More Mag7 earnings next week...

Magnificent Seven earnings: Microsoft, Meta, Apple and Amazon to announce results

When do Microsoft and Meta announce their results?

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Company

Earnings release date

Earnings call time

META

30 April, AMC

2pm PT (10pm BST)

MSFT

30 April, AMC

2.30pm PT (10.30pm BST)

When do Amazon and Apple announce earnings?

Swipe to scroll horizontally

Company

Earnings release date

Earnings call time

AAPL

1 May, AMC

2pm PT (10pm BST)

AMZN

1 May, AMC

2pm PT (10pm BST)

Meta earnings: what to expect

Microsoft earnings: what to expect

Wall Street analyst: cloud will drive Microsoft and Amazon’s earnings

Meta and Microsoft shares make divergent starts to earnings week

Pressure on Meta to justify AI spend

That's all from us this evening, but join us tomorrow for more Magnificent Seven earnings preview and analysis.

Magnificent Seven shares divergent

What’s happening with Microsoft’s capex?

Other considerations for Microsoft’s earnings

Amazon’s earnings: what to expect

Apple earnings: what to expect

White House lashes out at Amazon over tariff pricing

Meta launches AI app

Amazon denies tariff pricing report

Thanks for following our rolling coverage today. Join us again tomorrow, for the final build-up and analysis ahead of Microsoft and Meta's earnings releases.

Microsoft and Meta earnings day

How Microsoft and Meta shares fare ahead of earnings

Will it all ad up on Meta’s earnings call?

An eye on AI in Meta’s earnings call

Microsoft’s war chest

US economy contracts, deflating shares ahead of Meta’s earnings

What time does Meta announce results?

We are pausing our coverage now for a few hours but will be back at 9pm when Meta's results are published. Join us then.

Good evening, and welcome back. Not long to go now until Meta's earnings are announced. Microsoft is also presenting its quarterly results tonight.

Meta and Microsoft earnings expectations: recap

Breaking: Microsoft beats on earnings revenue

Microsoft's shares have surged more than 6% in after-hours trading on those results.

Breaking: Meta delivers big earnings beat

Meta's shares have gained over 4.5% in after-hours trading on those results dropping. A big result for Meta. We'll bring you a closer look at the details, ahead of the earnings call which is scheduled to start at 10pm BST.

Meta's earnings: year-over-year comparisons

Meta shares calm ahead of earnings call

Meta's guidance encourages markets

Zuckerberg: "AI is transforming everything that we do"

Zuckerberg explains AI in advertising and engagement

Meta's third opportunity: business messaging

The fourth and fifth opportunities for Meta: Meta AI, and devices

Meta's capex spend increases in search of general intelligence

Meta CFO: LLMs are improving content recommendation

This is all quite encouraging stuff from Meta's senior management, and shares are up over 4.7% in after-hours trading.

Just as I posted that, Li has addressed the macroeconomic environment:

Meta's outlook

We're into the questions now. First is on LLMs and AI usage, but Zuckerberg says little to share right now on new use cases.

Meta's capex in context

Meta's capex in future

Where else could Meta's ad demand get hit?

That's the end of Meta's earnings call and of our coverage for tonight. Meta's shares up approximately 4.5% in after-hours trading.

Welcome back... Microsoft and Meta reassure the market

Microsoft's capex dropped last quarter – what does it mean for AI?

Up next: Amazon and Apple

Amazon to wrap up quarter on "relatively stable footing", analyst says

Apple: what to watch

We're pausing briefly now, but will be back at 9pm (UK time), when Apple and Amazon publish their results. Join us then.

Welcome back to our live blog. US markets will close in around 15 minutes' time.

Are Apple and Amazon fairly valued?

Impact of tariffs on Amazon

Amazon beats EPS estimates

Amazon drops in after-hours trading

Apple beats expectations

Apple shares fall despite beating earnings

iPhone sales up 1.9%

Apple's earnings call

Apple comments on tariff impact

Apple expects annual revenue growth of "low to mid-single digits" next quarter, it said on the earnings call a moment ago.

Apple: sales in China roughly flat when adjusted for currency headwinds

Apple is now wrapping up its earnings call for the evening. Thank you for joining us. We will be back tomorrow, with further reaction and analysis. Join us then.

Good morning, and welcome back to our tech earnings live blog. Today, we will be bringing you some more reaction to Apple and Amazon's earnings, reported after US markets closed yesterday evening.

"Investors wanted more"

Apple's brand strength should give it "breathing room"

Amazon's "defensive" product mix could help reduce the impact of tariffs

Thank you for following our tech earnings live blog. The only Mag7 company yet to report is Nvidia, which will publish its earnings on 28 May. Join us for further insights and analysis then.