Analysts eye bumper profits for Meta and Amazon

Meta Platforms and Amazon are set to follow-up bumper results from US tech giant peers Microsoft and Alphabet, with combined sales of up to $177billion.

Facebook owner Meta will report its third-quarter earnings later on Wednesday, with Mark Zuckerberg’s firm guiding sales of $32billion to $34.5billion, and investors keeping a keen eye on the group’s expenses amid an expensive foray into artificial intelligence and virtual reality.

On Thursday Amazon is expected to continue its bounceback from last year’s losses, with sales of between $138billion and $143billion and investors hoping for growth in its online stores and Amazon Web Services cloud operation.

The pair will be the latest to report in a busy week for tech investors after Microsoft posted profit growth of 27 per cent to £18.3billion on revenues of £46.5billion. 

Google parent company Alphabet, meanwhile, reported earnings growth of 40 per cent to £16.1billion on sales of £62billion.