The world’s biggest tech companies just had one of their most tumultuous earnings periods in years, highlighting the breadth of the economic slowdown and how business conditions have rapidly deteriorated in recent months.
Amazon.com posted a loss for a second straight quarter on Thursday, the same day Intel shocked investors with a net loss in the second quarter as it suffered its biggest drop in quarterly revenue in more than a decade. Facebook parent Meta Platforms Inc., a day earlier, reported its first-ever quarterly sales retreat, and Microsoft earlier in the week disclosed its slowest earnings growth in two years.
