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Knockout Q2 for Intel, GOOGL; Amazon Posts Miss

Mark Vickery

Another big afternoon for Q2 earnings -- in fact, this might be the biggest day in quarterly report volume of the entire earnings season -- with some of the biggest names, FAANG and otherwise. Even better, we see three earnings beats out the of the four companies we cover here in this report after the bell:

Amazon AMZN is the only company in this group to have disappointed Thursday afternoon, reporting $5.22 per share, which missed the $5.29 per share in the Zacks consensus. Revenues cleared the estimate, however, posting $63.4 billion from the $62.57 billion expected, up nearly 20% year over year. Net sales in the quarter reached 20%, with Operating Income at $3.1 billion. Of this, Amazon Web Services (AWS) amounted to 52%.

In fact, of the $8.38 billion AWS brought in for the quarter, it now accounts for 13% of all sales Amazon brings in. That's up from 11% in the year-ago quarter. Shares are down nearly 2% in the after-market on the news; this is the first bottom-line miss for the company since Q2 2017. The four previous quarters averaged positive surprises of 60% per quarter. For more on AMZN's earnings, click here.

Alphabet GOOGL, on the other hand, posted a big beat on its bottom line after the closing bell, with $14.21 per share way out ahead of the $11.50 expected. Revenues of $38.94 billion also easily outpaced the $30.9 billion in the Zacks consensus. Traffic Acquisition Costs (TAC) accounted for $7.4 billion in the quarter. Ad Revenue brought in $32.2 billion while Google Properties tallied $27.3 billion. Shares are up 6% in late trading. For more on GOOGL's earnings, click here.

Intel INTC reported an even more impressive quarterly beat to $1.06 per share, over the 89 cents expected, and swinging to a positive from the year-ago's $1.04 per share. Revenues came in at $16.5 billion, surpassing the estimated $15.6 billion. Client Computing brought in $8.8 billion in the quarter, while Data Center did $5 billion in business. The company also announced it is selling its smartphone mobile business to Apple AAPL for $1 billion. It's an agreement where Apple would own the "majority" of the business; details yet to come.

Starbucks SBUX put up better-than-expected figures on both top and bottom lines: 78 cents per share on $6.82 billion in sales topped the 72 cents and $6.68 billion expected, respectively. This marks an all-time high for quarterly revenues at the company, thanks in part to very impressive yearly comps: +7% in the U.S. and +6% in China, where many felt Starbucks may have a harder time.

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Click to get this free report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Apple Inc. (AAPL) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Intel Corporation (INTC) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research