John Authers, Columnist

How Big Tech Is Getting Away With Such an Earnings Thud

Reduced expectations and smart positioning played their part, but then there’s economic confusion and market dissonance about the Fed.

February 8, 2023 at 5:07 AM UTC

By John Authers

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Mark Zuckerberg got ahead of the efficiency zeitgeist.
Photographer: David Paul Morris/Bloomberg

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Earnings season is more than halfway gone, with over 70% of the S&P 500 posting their fourth-quarter results. The main takeaway? Quite mixed. And the biggest offenders are in Big Tech. It’s just that you would never get this from the way markets have processed the results.