Tech giants' profits soar as pandemic boom continues
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Tech giants' profits soar as pandemic boom continues
Tech giants' profits soar as pandemic boom continues
Tech giants have reported soaring profits as slotxo consumers upgraded their devices
and sought cloud storage during lockdowns.
Apple's profits nearly doubled to $21.7bn (£15.6bn) in the three months to 30 June as
customers bought pricier 5G iPhones.
Microsoft saw a $16.5bn profit at the same time - up 47% year-on-year, due to demand
for cloud services and games.
Analysts warned that the figures may lead to calls for tech company curbs.
Google's parent company, Alphabet, also reported on Tuesday that quarterly sales and
profits had surged to record highs.
That was largely down to an increase in spending on online advertising aimed at
customers who were stuck at home shopping online due to restrictions.
Its video platform YouTube, for example, saw advertising revenue jump to $7bn in
the three months ending 30 June, in comparison with $3.81bn the year before.
The boss of the search engine giant, Sundar Pichai, said that there was a "rising tide
of online activity in many parts of the world, and we're proud that our services helped
so many consumers and businesses."
Its chief financial officer Ruth Porat said that revenues, which hit $61.9bn,
also reflected "elevated consumer online activity" as some economies recover from
the coronavirus pandemic. |
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