Jul 30, 2020
Amazon, Facebook and Apple thriving in lockdown
The coronavirus crisis might be causing widespread economic upheaval around the world, but the world's biggest tech firms are thriving. At Amazon, sales surged 40% in the three months ended in June, hitting $88.9bn - its strongest growth in years. Despite heavy spending on protective gear and other measures due to the virus, the firm's quarterly profits doubled to $5.2bn, up from $2.6bn a year ago. The firm's profits hit almost $5.2bn for the quarter. Apple said quarterly revenues jumped 11% year-on-year to $59.7bn. Profits hit $11.25bn, up from $10bn in the same period a year ago.
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