The Evening Standard

Tech titans reveal more massive growth in Lockdown

July 31, 2020

 

Earlier this week, we looked at the question of how big is too big for Techs quartet of titans facing congress - but the day after they squared up over questions about money and power...  they all grew even bigger.

 

They've all released their profit figures for the three months up to June  - that's during the height of the pandemic - and they're all beating analyst's predictions.

 

Amazon was a big winner, doubled its gains with a 40 percent increase in deliveries during lockdown  as more people ordered delivery to their homes. Profits were $5.2 billion.

 

At facebook, a 15 percent jump in people using its platforms, including instagram and whatsapp, appears to have offset the global dip in advertising spend - Mark Zuckeberg's company scooped up $18.7 billion

 

Alphabet, the parent company of Google, did appear to have a tougher pandemic, posting the first ever decline in the company's history - their $38.3 billion profit was two percent lower than last year, but higher than the $37.4 Wall Street was predicting.

 

Meanwhile, Apple's stunned the markets with an 11 percent rise in revenues - despite having to close stores across the world.

 

An era of working - and learning - from home's thought to have driven sales of macbooks, ipads and iphones in every geographical area, pushing profits for the quarter over $11.25 billion.

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