Posted 2/2/2024, 6:26:35 AM
Tech Giants Rally Markets with Strong Earnings Despite Layoffs
- Asian markets rally after stronger-than-expected earnings from Meta and Amazon
- Meta and Amazon smash Q4 expectations with revenue and profits far surpassing forecasts
- Meta to pay first ever dividend of $0.50 per share after hitting $1 trillion valuation
- Meta and Amazon engage in aggressive cost-cutting, laying off nearly 50,000 employees
- Upbeat tech earnings boost S&P 500, Nasdaq, and Dow to close at record highs