Amazon, Google, Apple, Facebook: Mixed numbers and increased focus on costs

Thursday was a massive day for big technology companies. The overall impression is mixed. Sales came below expectation across the board and management indicated a cloudy outlook at least for the next six months. They are indicating an increased focus on cost discipline. Mark Zuckerberg is talking of 2023 as the year of efficiency. Google coined a new expression: “cost base reengineering”.

Infineon

Infineon had a very profitable first quarter 2023. They raised their outlook for the full year. During the call Infineon CEO declared “In particular, the energy transition is causing a continuously high need for our solutions. In contrast we see significantly lower demand in areas such as smart phones or PC”.

Nokia

Nokia came with strong Q4 and full year results: Q4 revenues grew 11% in Q4 2022: Network infrastructure grew 14% and mobile networks 3% and the Enterprise segment was up 49%. After a long period of distressing profit warnings, the company is getting its act together.

Dassault Systèmes

4Q22 Revenue increased 10% with software revenue up 9%. Recurring revenue rose 11%, driven by strong subscription growth of 18% and License and other software revenue grew 5%. 4Q22 3D EXPERIENCE software revenue rose 24%. Cloud software revenue increased 22%. Company made bullish comments on its ability to reach long term targets. Dassault strategic bet on life science is paying off earlier than expected.