The Week in Numbers: tech fest, gas shock

STORY: From a big week for earnings from big tech, to a new gas shock for Europe, this is the Week in Numbers.

$97.3 billion was the record second-quarter revenue at Apple. But the iPhone maker offered a glum outlook, warning about the impact of war, lockdowns and parts shortages. Amazon and Intel also sounded downbeat, and shares in all three sank. Facebook-parent Meta did better, beating forecasts and seeing its shares surge.

229 million was Twitter’s number of active users over the first quarter. That too was better than expected, boding well for Elon Musk as he moves ahead with a $44 billion takeover.

What he plans to do with the social network, still isn’t clear. But CapWealth chief investment officer Tim Pagliara is bullish about Musk’s abilities:

“His imagination, his ability to manage tasks like that, they’re going to be terrific.”

1.4% was the surprise contraction in the U.S. economy over the first quarter. Resurgent health worries and reduced economic support took a toll. But economists say domestic demand remains strong, easing fears that a recession is looming.

51% was the jump in operating profit at Samsung. The South Korean giant says it’s enjoying strong demand for high-end chips, but also warned that global parts shortages are likely to persist.

And around 20% was the jump in European gas prices after Russia cut off sales to Bulgaria and Poland, and reasserted a demand for payment in roubles. The European Commission accused Moscow of “blackmail”.

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