This Week's Earnings Release Update
On Tuesday, April 28th, Advanced Micro Devices, Inc. (AMD) announced Q1 2020 top-line revenue of $1.79 billion. This marks a 40 percent increase year-over-year, which was primarily driven by their higher Computing and Graphics segment revenue.
Overall, revenues were up, which makes AMD still a good date.
On Wednesday, April 29th, Microsoft Corporation (MSFT) reported revenue of $35 billion, up 15% from the year-ago period. Their revenue breakdown includes $12.3 billion (up 27% year-over-year) from their Intelligent Cloud segment.
This makes MSFT an excellent date moving forward.
On Thursday, April 30th, Apple, Inc. (AAPL) delivered positive but mixed revenue earnings results. For the quarter that ended in March 31st, the company reported top-line revenue of $58.3 billion, a slight year-over-year increase. This revenue was driven by an all-time record of $13.3 billion (up 17% year over year) for their Services division and a quarterly record of $6.3 billion for their Wearable division. These numbers were offset by only $28.9 billion in iPhone revenue, a decrease of 6.7%.
However, Apple did promise an additional $50 billion in share buybacks, and a 6% dividend increase. If you are a long time AAPL shareholder, both the share buyback and dividend increase are great news.
In so far as the Wealthy Investor program is concerned, AAPL shares are still a great date.
On Thursday, April 30th Wall Street also saw Visa, Inc. (V) release their Q2 results. The company earned $5.85 billion during the quarter, up 6.6% on a year-over-year basis. Payments volume grew globally 5%, with over 500 million transactions on Visa per day for each of the 91 days in the second quarter.
As far as the Wealthy Investor program is concerned, Visa is definitely a great date moving forward.
So far many of the stocks that we trade and invest in the Wealthy Investor program are doing well. Please remember earnings season has at least three more weeks until it comes to its conclusion.
I will update you when applicable.
Tyrone Jackson
The Wealthy Investor
