- All Four Tech Companies Earned Heavily During the Lockdown
- The Net Worth of the Four Companies Reached Close to $ 5 Trillion
The lockdown implemented due to coronavirus has proved to be a boon for tech companies. This is the reason that while other companies are incurring losses, tech companies are making a record of profits. The world’s leading tech companies Facebook, Apple, Google and Facebook have declared financial results for the April-June quarter of calendar year 2020. The combined revenue of the four companies for the quarter stood at about Rs 198 lakhs, about Rs 14 lakh crore. This is equivalent to the total market cap of Reliance Industries Limited.
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People have spent more and more time on social media due to being in homes under lockdown. Due to this, social media platform Facebook’s revenue in the second quarter stood at $ 18.69 billion. This time there has been an 11% growth in revenue compared to the same period a year ago.
Amazon
Amazon e-commerce giant Amazon reported total revenue of $ 88.9 billion in the second quarter. There has been a 40% growth in revenue this year compared to the same period a year ago. Amazon’s revenue has increased due to increased online sales due to lockdown. However, the growth of Amazon Web Services has been negative.
Apple
Apple’s revenue in the April-June quarter was $ 59.7 billion. There has been an 11 per cent growth in revenue over the same period a year ago. Apple received $ 26.4 billion from iPhone, $ 13.1 billion from Apple Services and $ 6.4 billion from Wearables.
Alphabet Inc
Google’s parent company Alphabet Inc. reported revenue of $ 31.6 billion in the June quarter. It has grown by -1.7% compared to the same period a year ago. Google’s net income has been $ 6.96 billion. Google received $ 3.01 billion in revenue from cloud services and $ 3.81 billion in revenue from YouTube Ads.
Net Worth of All Four Companies Exceeds $ 5 Trillion
The net worth of these four giant tech companies Apple, Google, Facebook and Amazon combined is close to $ 5 trillion, thanks to strong profits in the April-June quarter. The revenue of all the four companies in the second quarter was higher than anticipated. These four giants, including Microsoft, have become the most valuable companies in the S&P 500.
