Oct 29, 2020

For Amazon, Apple, Facebook and Google business is booming

Amazon, Facebook, Apple and Google reported sales and profits figures on Thursday covering the three months to 30 September - and there was a common thread: growth shows no sign of slowing. Sales at the internet giant shot to $96.1bn in the three months to 30 September - up 37% from the same period in 2019. The move led sales to slow at Facebook and pushed Alphabet, the parent company of Google and YouTube, to its first year-on-year decline in quarterly revenue since becoming a publicly-listed company in 2004. Apple sales hit $64.7bn, up slightly from a year ago - handily beating most analyst expectations, as sales of laptops and iPads surged. The hit was especially evident in Apple's Greater China region - where it typically generates about 20% of its sales and sales dropped almost 30%. Apple expressed confidence that buyers were simply holding out for its latest phone, which went on sale later than in prior years.

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