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Just before the stock market opened, recent figures for the state of the US economy were released. They showed that gross domestic product (GDP), ie the value of everything produced by goods and services, fell by 1.4 percent in the first quarter. The figures were surprising as a large majority of analysts expected in advance that the economy would grow in the quarter.
The figures were well received by the market, and the result at the end of trading was a fresh rise for all three leading indices:
- The broad S&P 500 index rose 2.5 percent.
- Industrial-heavy Dow Jones rose 1.8 percent.
- The Nasdaq technology index rose 3.1 percent.
After a cautious but optimistic start, the rise really picked up throughout the trade and stood until closing time.
The development came ahead of quarterly figures released by Amazon and Apple, after both Facebook owner Meta and Twitter presented their figures earlier this week.
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Amazon shares rose over four percent in ordinary trading on Thursday, and fall over ten percent in immediate after-trading. Apple also rose over four percent in ordinary trade, and is down about half a percent in immediate aftermarket.
Meta straight up
Immediately after the stock exchange closed on Wednesday, the first quarter figures for Facebook owner Meta came out.
The report showed that the company’s trading ended slightly lower than expected, at $ 27.91 billion, while earnings ended at $ 2.72 per share, which was better than expected.
Just as important was the fact that Facebook has reversed the negative development and can now point to growth in the number of daily users. In March this year, an average of 1.96 billion people used Facebook daily, up four percent from March last year.
The meta-share rose sharply throughout the day, ending with an increase of 17.6 percent.
Mark Zuckerbergs-Meta delivered better than expected in the first quarter. (Photo: Eric Risberg / AP Photo / NTB)
Twitter presented figures after Musk’s bid
Twitter left Thursday afternoon, before opening on the US stock exchanges, figures for the first quarter.
The company reported an adjusted earnings per share of $ 0.9. Revenue was $ 1.2 billion, while revenue of $ 1.23 billion was expected in advance, according to Bloomberg. Advertising revenue ended at $ 1.11 billion, compared to the expected $ 1.12 billion, according to Bloomberg
At the same time, Twitter reports growth in the number of users. Revenue-generating daily active users was 229 million, an increase of close to 16 percent compared to last year’s quarter.
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Twitter shares rose just over one percent.
Earlier this week it became known that Elon Musk gets to buy Twitter.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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