WEB Notes: And you think corporations and government do not rub shoulders? Come on. Tesla loves the government, just look at the tax breaks they receive for producing electric vehicles.
The GOP tax bill has long been expected to boost corporate profits. Now we know just how much the biggest tech companies in the US stand to save — and what that could mean for their bottom lines.
Google will save $2.28 billion in 2018, while Facebook will see $1.56 billion in savings and Amazon will enjoy a $723 million break, according to estimates from Cowen senior research analyst John Blackledge.
The firm forecasts those savings will translate to big earnings-per-share (EPS) boosts for each company, with Amazon the big winner, boasting an expected upside of 24%. Google and Facebook will both get an EPS bump of 8%, Cowen said.