Wednesday, May 8, 2019

25 Largest San Fran/Silicon Valley, CA Area Technology Cos Saw Their Total Pretax Earnings Decline By 18% in the March 2019 Quarter and By 1% in the Dec 2018 Quarter, After Increasing By 20% in the Sept 2018 Quarter

Democratic Presidential Candidate Pete Buttigieg Will Be Making Six Campaign Stops in the San Francisco Bay Area on this Friday May 10, 2019.  California is one of the 12 Super Tuesday US States Holding Their 2020 Democratic Presidential Early Primary on March 3, 2020.  Thus, I Think It Might Be Helpful to Research Just How San Francisco/Silicon Valley Technology Companies Have Performed on the Pretax Earnings Front in the Most Recent Three Quarters
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From a review of SEC filings and MSN Money, I found 25 San Francisco/Silicon Valley Area Technology Companies with stock markets caps of above $10 bil recently, which have March quarter ends and which have reported their March 2019 Quarter earnings, their December 2018 earnings and their September 2018 earnings to the SEC by May 7, 2019.

My Focus is on Pretax Income rather than on After-Tax Net Income because Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments.  It has nothing whatsoever to do with company operating performance.


From SEC filings, the chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the March Quarters of both 2019 and 2018, the December Quarters of both 2018 and 2017 and the September Quarters of both 2018 and 2017 for each of these 25 San Francisco/Silicon Valley Area Largest Technology Companies.

US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax
Income Income Income Income Income Income
Technology Cos (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
San Fran/Silicon Valley Area March March December December September September
Reporting 1Q 2019, 4Q 2018 and 3Q 2018 Earnings California 2019 2018 2018 2017 2018 2017
Market Caps Above $10 Bil City HQs Quarter Quarter Quarter Quarter Quarter Quarter
mils $ mils $ mils $ mils $ mils $ mils $
Software and Services 
Alphabet Mountain View            8,146          10,543          10,072            8,018          10,083            7,979
Facebook Menlo Park            3,482            5,610            7,971            7,462            5,912            5,236
Visa San Francisco            3,677            3,217            3,630            3,239            3,538            3,099
Netflix Los Gatos               400               300               119               131               379               116
PayPal Holdings San Jose               717               548               686               864               533               451
ServiceNow Santa Clara               (11)                 (7)                   2               (13)                   7               (20)
eBay Inc San Jose               673               547               516               561               948               694
Square San Francisco               (38)               (24)               (28)               (16)                 21               (17)
Electronic Arts Redwood City               219               754               265               (16)               276               (38)
Twitter San Francisco                 97                 64               207                 94                 87               (18)
Atlassian Corporation PLC San Francisco             (202)                 (8)                 27               (12)             (240)               (20)
Cadence Design Systems San Jose               128                 78               109                 77               100                 87
Check Point Software San Carlos               225               228               267               280               237               219
Twilio San Francisco               (88)               (24)               (47)               (19)               (27)               (23)
Apple Cupertino          13,793          16,168          23,906          27,030          16,421          13,917
Semiconductors
Intel Santa Clara            4,547            5,011            5,635            6,035            7,142            5,930
Advanced Micro Devices Sunnyvale                   3                 89                   3               (31)               114                 83
Xilinx San Jose               260               160               257               167               239               194
Maxim Integrated Products San Jose               160               222               183               198               234               181
Other Technology Manufacturing Cos
Lam Research Fremont               586               772               660               734               591               688
Arista Networks Inc Santa Clara               207               143               198               142               189               142
KLA-Tencor Milpitas               221               366               416               347               428               336
Fortinet Sunnyvale                 60                 37                 92                 45                 71                 38
Western Digital San Jose             (477)             (128)                 81               774               583               710
Seagate Technology Cupertino               215               393               398               371               468               188
Total all 25 Technology Companies          37,000          45,059          55,625          56,462          48,334          40,152
Total Pretax Income % Change From Prior Year's Qtr -18% -1% 20%



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