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Latest financial results — revenue, EPS, operating income, and AI capital expenditure for the six largest tech companies, updated through Q1 2026. AI capex is now the dominant narrative driving revenue for cloud and chip companies.
| Company | Q1 2026 Revenue | Key Highlight | YoY Growth | AI Capex (2026 est.) |
|---|---|---|---|---|
| Apple (AAPL) | ~$95B | Services record ~$26B | ~5% | ~$12B |
| Microsoft (MSFT) | ~$62B | Azure +33%, AI-driven | ~14% | ~$85B |
| Alphabet/Google (GOOGL) | ~$90B | Cloud $12B+ | ~13% | ~$80B |
| Amazon (AMZN) | ~$155B | AWS $28B+ | ~10% | ~$110B+ |
| Meta (META) | ~$42B | Reality Labs -$4B | ~16% | ~$70B |
| NVIDIA (NVDA) | ~$44B | Data center dominance | ~70% | ~$4B (R&D) |
| Company | TTM Revenue | YoY Growth | Operating Margin |
|---|---|---|---|
| Apple (AAPL) | ~$410B | ~5% | ~32% |
| Microsoft (MSFT) | ~$270B | ~14% | ~45% |
| Alphabet/Google (GOOGL) | ~$375B | ~13% | ~33% |
| Amazon (AMZN) | ~$650B | ~10% | ~12% |
| Meta (META) | ~$178B | ~16% | ~40% |
| NVIDIA (NVDA) | ~$175B | ~70% | ~63% |
AWS, Azure, and Google Cloud remain the primary growth engines. Azure AI revenue grew 33% YoY in Q1 2026, driven by enterprise AI workloads and OpenAI partnership revenue. AWS hit $28B+ quarterly revenue with AI services as the fastest-growing segment. Google Cloud crossed $12B quarterly on the back of Gemini-powered enterprise deals.
Meta and Google continue to dominate digital ads, with AI-powered targeting lifting CPMs and advertiser ROI. Meta's Advantage+ AI ad system now drives the majority of ad placements. Google Search has maintained resilience despite AI Overview cannibalization concerns. Both companies are showing that AI integration strengthens rather than threatens their ad moats.
Combined AI capex from the big six is on track to exceed $350B in 2026 — up from ~$300B in 2025. Amazon leads at $110B+, Microsoft ~$85B, Google ~$80B, Meta ~$70B. NVIDIA remains the primary beneficiary, posting ~$44B quarterly revenue (data center GPUs). The question has shifted from 'is this spending justified?' to 'is it enough?' as AI revenue materializes.
Apple's revenue growth remains modest (~5% YoY) but Services hit a record ~$26B in Q1 2026, now running at ~$105B annualized. Apple Intelligence has had limited revenue impact so far. iPhone growth is steady but unspectacular. The company remains the most profitable business in history by absolute dollar terms, with a buyback machine returning massive capital to shareholders.
The major tech companies report earnings quarterly, typically 3-5 weeks after their fiscal quarter ends. Apple, Microsoft, Alphabet, Meta, and Amazon report on roughly the same schedule (calendar Q1 ends in March, Q2 in June, etc.). NVIDIA reports on a February-April-July-October schedule. Earnings dates are announced 2-3 weeks in advance and are widely covered.
As of mid-2026 trailing twelve months: Amazon ~$650B (largest), Apple ~$410B, Alphabet ~$375B, Microsoft ~$270B, Meta ~$178B, and NVIDIA ~$175B (fastest growing at ~70% YoY). Amazon's total includes both AWS and its massive e-commerce business. NVIDIA's growth, while decelerating from 2025's 122%, remains extraordinary and is driven almost entirely by AI data center GPUs.
Combined AI-related capital expenditure from Microsoft, Alphabet, Amazon, and Meta is expected to exceed $350B in 2026, up from ~$300B in 2025. Amazon leads with $110B+, Microsoft commits ~$85B, Alphabet ~$80B, and Meta ~$70B. This capex is translating into measurable AI revenue — Azure AI is growing 33%+, AWS AI services are scaling rapidly, and Google Cloud is winning enterprise Gemini deals. The ROI debate has shifted in favor of the spenders.