All four of the companies in this big tech earnings insight reported an increase in revenue year-on-year for their quarters ended in September 2020. For Alphabet, Amazon and Facebook, this period is Q3 of their year. Separately, Apple’s quarter ending in September is Q4 of its fiscal year.
Alphabet, the parent company of Google, earned $46.17b, a 14% increase on 2019 Q3 earnings. Amazon, unsurprisingly considering the rise in e-commerce due to the pandemic, saw the greatest increase in revenues for this time period. Their reported earnings grew by 37%, reaching $96.1b in Q3 of 2020.
Facebook also saw a sizeable jump in revenue, reporting a 22% increase in revenue, up from $17.6b. Of all the big tech earnings in this 2020 report, Apple saw the smallest percentage increase due to the drop in iPhone sales ahead of a new release. Their Q4 revenue went from $64.1b in 2019 to $64.7b in 2020, a 1% increase.
References:
- Alphabet (2020). Alphabet Announces Third Quarter 2020 Results [Online]. Abc.xyz. Available at: https://abc.xyz/investor/static/pdf/2020Q3_alphabet_earnings_release.pdf?cache=514fb58 (Accessed: 05 Jan 2021)
- Amazon (2020). Amazon.com Announces Third Quarter Results [Online]. Press.aboutamazon.com. Available at: https://press.aboutamazon.com/news-releases/news-release-details/amazoncom-announces-third-quarter-results (Accessed: 05 Jan 2021)
- Facebook (2020). Facebook Q3 2020 Earnings [Online]. Investor.fb.com. Available at: https://investor.fb.com/investor-events/event-details/2020/Facebook-Q3-2020-Earnings/default.aspx (Accessed: 05 Jan 2021)
- Apple (2020). Apple Reports Fourth Quarter Results [Online] Apple.com. Available at: https://www.apple.com/ie/newsroom/2020/10/apple-reports-fourth-quarter-results/ (Accessed: 05 Jan 2021)
