Tech Stocks Are Going Crazy

Tech stocks are going crazy this morning after a round of strong earnings reports released Thursday after the closing bell.

Right now, the Nasdaq is up 0.6%, while the S&P 500 and the Dow Jones Industrial Average are up only 0.2%.

  • Amazon reported a loss of $US0.09 per share in Q3, just as analysts expected. Revenues were $US17.09 billion, ahead of the $US16.76 billion consensus estimate. Shares are up 10.4%.
  • Zynga reported a loss of $US0.02 per share, narrower than the $US0.04 loss expected by analysts. Revenues were $US152 million, ahead of the $US143 million consensus estimate. The virtual game-maker said it has 30 million daily active users. Shares are up 11.2%.
  • Microsoft reported Q3 earnings of $US0.62 per share, ahead of consensus estimates for $US0.54 EPS. Revenues also exceeded expectations, coming in at $US18.53 billion versus $US17.79 billion. The computing giant said revenues from its Surface tablet were $US400 million, and unit sales of the device were doubled from Q2. Shares are up 7.4%.

Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.

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