The four bigs technology companies (Apple – Alphabet – Facebook – Amazon) announced their financial results for the second quarter of this year 2020.
While Alphabet, the mom of the Google company recorded a decline in its results for the first time in its history, the other three companies achieved profits that exceeded experts’ expectations, thanks to major changes in consumption mechanisms as a result of the spread of the COVID 19 epidemic around the world.
Amazon has made its biggest profit ever since its founding 26 years ago, profiting greatly from the disruptions and shutdowns caused by the spread of Covid-19 around the world.
The company announced that its revenue jumped 40% from last year to $ 88.9 billion, to a 48% growth in Internet store sales to $ 45.9 billion.
The company’s profits in the second quarter of the year reached 5.2 billion dollars. Which is twice the net profit of a year ago?
In contrast to traditional stores, the American company recorded a significant increase in its sales over the Internet during the pandemic, this growth called for it to employ about 175 thousand people in recent months, to meet the strong increase in demand for its services. also read about kevin gates net worth and biography
Amazon had warned of a possible loss in the second quarter of the year due to spending about 4 billion dollars on protective equipment for workers and other expenses related to Covid-19.
The company expected net sales of between $ 87 billion and $ 93 billion for the third quarter. Analysts had expected an average revenue of $ 86.34 billion.
Apple’s revenues in the fiscal quarter ending in June exceeded analysts’ expectations, as the company’s global sales accounted for about 60% of its revenue this quarter, which amounted to $ 59.7 billion.
Its iPhone sales exceeded expectations of $ 22.37 billion, to reach $ 26.42 billion.
The results of the American company showed that its iPad sales rise to $ 6.58 billion during the quarter, compared to $ 5.02 billion a year ago, despite analysts expecting it to reach $ 4.85 billion. The company’s sales of its computers also increased to $ 7.08 billion, compared to $ 5.82 billion.
The company, which announced its liquidity of about $ 193.817 billion, revealed a fifth step to split its share, which jumped above the $ 400 barrier, a level the stock had not previously reached in normal trading.
exploited its digital advertising capabilities in light of the spread of COVID 19 and increased its sales by 10% to reach $ 18.3 billion during the second quarter of this year.
The social media giant’s earnings exceeded analysts’ expectations, recording a net profit of $ 5.2 billion, equivalent to $ 1.80 per share, compared to the $ 1.39 analysts expected. This is thanks to an increase in the number of monthly active users to 2.7 billion.
Although it recorded the slowest growth rate of 11% in its revenues since its IPO, it exceeded the expectations of analysts who had expected a 3% drop in revenues.
The company’s financial results showed total costs and expenses rose 4% to $ 12.7 billion in the second quarter.
For the first time in its history, Alphabet’s sales recorded a decline in revenue, which fell 2% in the second quarter of the year to $ 38.3 billion, against expectations of a 4% decline.
The company generated 66% of its revenue from Google ads and YouTube. Which has been affected by large dismissals due to COVID 19?
At the same time, overall costs and expenses increased by about 7% this quarter on an annual basis, with quarterly earnings reaching $ 6.96 billion, equivalent to $ 10.13 per share, while analysts expected an average of $ 5.645 billion or $ 8.29 per share.