Key takeaways
- Earnings season was mixed in the tech sector, with cost cutting and layoffs the story of the moment, with Mark Zuckerberg calling 2023 the Year of Efficiency
- The strong U.S. dollar has been a drag for most companies, with foreign revenue converted back to few U.S. dollars
- The outlook doesn’t look much different in the short term, with the global economic environment causing significant uncertainty
We saw a number of hotly anticipated earnings announcements to kick off February, with some of the biggest names in tech providing details of their 2022 Q4 numbers. With layoffs all over the news in recent months, these figures aren’t likely to reflect those changes, as the company works through their cuts in the early part of 2023.
As well as looking back at last quarter, we’ll get out our crystal ball and see whether we can take a leaf out of our AI’s book, and make some predictions on what’s to come for these companies over the rest of the year.
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