After US hearing, Big Tech CEOs get ready to reveal Q2 earnings


(IANS) After testifying before a US Congress hearing over anti-trust allegations, the CEOs of the four Big Tech companies Amazon, Alphabet (that owns Google), Apple and Facebook were ready for another big test, as they settled to reveal the financial results of their second quarters post-market close in the US late on Thursday.

The four tech giants are worth nearly $5 trillion in combined market capitalisation, with Apple stock and Amazon stock both over $1.5 trillion.

Analysts and market watchers would keep an eye on figures and trends in e-commerce, streaming, advertising, search, app stores, social media and cloud computing.

Facebook rescheduled its second quarter results from Wednesday to Thursday owing to the conflict as Zuckerberg was to testify before the House Judiciary Committee and the Antitrust Subcommittee.

The shares of all Big Four tech giants slightly rose after the Congressional hearing as the market opened.

The CEOs — Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, Sundar Pichai of Google and Tim Cook of Apple — pushed back against accusations during a US Congress panel hearing on Wednesday, capping a year-long investigation into these companies’ market domination online.

Amid intense grilling on issues that centred on market power derived from uninhibited collection and access to data, all four CEOs focused their attention on the value of their innovations and services to consumers. They testified via video link to lawmakers in Washington DC.

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