If the epidemic had never happened, it is likely that the momentum of the technology industry would have risen in the past year. But the economic results of the Covid-19 have affected tech titans in high places that they may have thought possible last year.
Last week’s quarterly results from Apple Inc., Microsoft Corp., Amazon.com Inc., Facebook Inc., and Google-parent Alphabet Inc. puts that light in a clear display. Each of these companies – already pre-epidemic juggernauts – recorded revenue growth near or above its fastest pace over the years.
The quintet sets sales and profit records. Revenue from Apple, the world’s most valuable company, exceeded 54% to the highest level ever achieved in the first three months of the year. Amazon has set its fourth consecutive quarter-on-profit profit record where the total revenue earned exceeds that of the previous three years combined.
“With more than a year into the epidemic, digital adoption curves are not slowing down. They’re fast, “said Satya Nadella, chief executive of Microsoft, whose revenue increased by 19% in the last quarter.
The stock market offers a glimpse of how big these companies are in this unusual time: The total market value of the five Big Tech companies is now over $ 8 trillion, accounting for about a quarter of the total number of companies in the S&P 500.
Here’s a look at these five big ones, with numbers:
From January to March, Apple sold $ 47 billion iPhones. That was a 66% turnover from last year, thanks to new models with next-generation 5G technology. Consumers have spent a lot of money on premium iPhones, too, with the average U.S. retail price rising from $ 52 from last year to $ 847, according to data from Consumer Intelligence Research Partners LLC.
Microsoft’s workflow tool, Groups, now has 145 million active users every day.
That is almost double the number from last year, and rose from 20 million in November 2019. Mr Nadella said the epidemic has accelerated the adoption of more digital tools, benefiting from its operation from business software to cloud computing in video games.
The e-commerce giant now has 950,000 US employees, compared to 500,000 about a year ago.
The company has been hiring rapidly to meet the demands of a critical commodity crisis and to reduce delivery times. Amazon is now the second largest employer in a non-governmental country after Walmart Inc., and said this week it was hiring tens of thousands of positions across the country.
Advertising revenue has grown by 49% in the last quarter on YouTube, Google video arm.
YouTube has become a global entertainment hub during the home year, attracting so many viewers that its ad sales reached $ 6 billion a quarter, of which only 16% is owned by Netflix Inc. made at that time. Google has made a lot of money out of products with new ad formats that enable direct purchases within YouTube during ads.
Facebook, Instagram, Messenger or WhatsApp were used at least once by 3.45 billion people last month.
That rises to about six from 2.99 billion last year. As people cling to their home and spend most of their lives online and want more information and communication, the company’s ubiquitous access to technology has grown exponentially.
This story was published from a wire agency feed without text editing.