Apple Blew Past Analyst Estimates
Apple Inc's first iPhone capable of connecting to the 5G wireless networks did continue to power major increases in quarterly revenue and profits, but it came less significant as services revenue is becoming an important part of its business model, growing 33% YoY.
Google Rebounded As Vaccines Started Breaking COVID-19 Shackles
Alphabet Inc.'s earnings improved markedly over the year-ago period when the pandemic crushed advertising budgets. Vaccines have enabled people across the globe to shed the COVID-19 shackles and splurge, encouraging advertisers to spend more in an effort to get their products to them, with a lot of these funds going to Google's corporate parent.
Fueled by Google, earnings nearly tripled from last year's $6.96 billion as they reached $18.53 billion. Google's advertising revenue alone soared 69% to $50.44 billion as business activity and life resumed, allowing recovery of retail, travel, and entertainment sectors. Total revenue amounted to $61.88 billion, rising 62% from last year, amounting to $50.95 billion after subtracting traffic acquisition costs.
Microsoft Delivered Record Revenue Due To Home Offices And Remote Classrooms
Although not even Big Tech is immune to the global shortage, its numbers speak for itself – it is invincible as one can get.
The post Big Tech Has Spoken appeared first on IAM Newswire.
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