Google, Apple, and Microsoft all reported record profits this quarter

Google, Apple, and Microsoft all reported record profits this quarter

Apple’s $ 21.7 billion (£ 15.6 billion) over the three months ended in June, the third quarter of its 45-year history, boosted by strong iPhone 12 sales and service business growth. I made a profit.

Google, apple, Microsoft On Tuesday night, the company reported record quarterly sales and profits as it continued to benefit from the pandemic that caused Big Tech a “perfect positive storm.”

Google’s parent company Alphabet had second-quarter sales of $ 61.8 billion (£ 44.5 billion), up 62% year-over-year, and profits of more than $ 18.5 billion (£ 13.3 billion). Reported more than double. At the same time last year. The company’s advertising revenue increased 69% from last year.

Microsoft also exceeded expectations, with revenues exceeding $ 46 billion (£ 33 billion) this quarter. This is an increase of 21% compared to the same quarter last year.

Results will come later Tesla reported record profits On Monday in one of the busiest weeks ever for quarterly US earnings results. Big Tech’s explosive revenue continues on Wednesday’s Facebook and Thursday’s Amazon.

Collectively, Google, Amazon, Apple, Microsoft and Facebook Stock prices soared during the pandemic and are now worth more than one-third of the total S & P 500 index of the 500 largest US trading companies.

Thomas Phillipon, an economist and professor of finance at New York University, said The biggest financial winner from a pandemic The global blockade has led to more businesses and consumers using the service.

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  • Google, Apple, and Microsoft all reported record profits this quarter
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