Amid the pandemic, Big Tech reports mixed earnings
July 31, 2020
Big Tech companies reported mixed quarterly earnings on Thursday, a day after their top executives faced a tough congressional grilling over their market power and alleged monopolistic practices.
All four were affected by the pandemic, although in strikingly different ways. Google and Facebook reported slowing growth in the April-June quarter due to lagging digital ad sales, while Apple and Amazon saw profits and revenue rise.
Shares of all four companies rose in after-hours trading, reflecting financial performance that exceeded analyst expectations.
Alphabet, Google's holding company, re...