In other news, the video game industry is facing a downturn with increasing layoffs and slumping sales and usage. The cloud industry is splitting into two distinct parts: the "AI Cloud" future, which is exciting investors, and the legacy "Cloud 1.0" business, which is losing its appeal. The article also mentions that executive pay cuts probably wouldn't prevent layoffs, according to a former VP at Microsoft.
Key takeaways:
- Meta, Apple, and Amazon reported significant increases in their earnings, with Meta planning to issue dividends for the first time and conduct $50 billion in stock buybacks.
- Apple's sales in China declined by 13% year-over-year, leading to a dip in its share price in after-hours trading.
- Amazon surpassed its fourth-quarter earnings-per-share estimates and provided first-quarter guidance for net sales and operating income on the high end of forecasts.
- The video game industry is facing a downturn with increasing layoffs, declining sales and usage, and no immediate solution in sight.