London Daily

Focus on the big picture.
Saturday, Sep 12, 2026

For Amazon, Apple, Facebook and Google business is booming

For Amazon, Apple, Facebook and Google business is booming

Latest sales and profit figures from America's big tech companies exceed Wall Street expectations.

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.


1. Amazon is king


The cardboard boxes and delivery trucks were an early sign - and now we've got more proof: Amazon continues to be one of the biggest winners from the pandemic.

Sales at the internet giant shot to $96.1bn in the three months to 30 September - up 37% from the same period in 2019. And profits hit a record $6.3bn, nearly three times last year's total.

The rise was driven by its e-commerce business in North America, as families increasingly turned to online shopping. But the company's advertising and cloud computing business also saw significant gains.

The growth has not come without cost. Amazon said it had $2.5bn in Covid-related expenses and its reputation has also taken a hit, with protests against the firm's working conditions and other policies.

2. On social media, the Covid surge is fading


Facebook, owner of Instagram and WhatsApp, reported a whopping 2.5 billion daily users on average in September across its platforms. That's up 15% from September a year ago - but only a 3% rise from June, when people stuck-at-home turned to social media, generating a flood of activity.

The company warned that the number of Facebook users even declined in the US and Canada - its most profitable market - and told investors they expected the trend to continue.

Twitter reported a similar story, claiming 187 million daily active users in the July-September quarter, up just 1 million from the prior period.

3. The dip in users doesn't seem to be deterring advertisers, however


Amid the shutdowns earlier this year, many businesses cut advertising spending. 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.

But spending from those businesses has returned.

At Google, revenue was up 14% year-on-year - far better than analysts had expected. The rise helped profits jump an eye-popping 59% year-on-year to more than $11bn, sending the firm's shares up more than 6% in after-hours trading.

Twitter also saw revenue rise 14%, while at Facebook it jumped 22% and the firm said it expected that growth to accelerate.

4. The next iPhone better be big


Apple sales hit $64.7bn, up slightly from a year ago - handily beating most analyst expectations, as sales of laptops and iPads surged.

But shares in the firm sank in after-hours trading anyway, as investors digested a more than 20% drop in iPhone revenue.

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.

"Despite the ongoing impacts of Covid-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone line-up, has been tremendously positive," chief executive Tim Cook said.

5. They celebrated the success - but will others?


As is typical, discussions from the companies focused on sales and profits - and not the controversies swirling around them as calls for tougher regulation gain traction in the US and elsewhere.

In its prepared comments, Facebook stood out with its brief nod to the issue, warning of "headwinds… from the evolving regulatory landscape".

But the companies' financial success will only make them more of a target for complaints, warned Paolo Pescatore, analyst at PP Foresight.

"Tech dominance will continue to raise eyebrows given the antitrust concerns," he said. "There will be further calls from rivals to regulate tech companies."

Newsletter

Related Articles

0:00
0:00
Close
Chinese Crypto Entrepreneur Leon Li Identified as Seller of £190 Million London Mansion
Trades Union Congress Proposes Social Energy Tariff Funded by Higher Bank Surcharge
British Chambers of Commerce Calls for State Pension Triple Lock to Be Scrapped
Anthropic Says Claude Helped Disrupt Biological Weapons and Cyber Espionage Threats
UK Imposes Sanctions Over Israeli Settlements and West Bank Violence
UK Reimposes Sectoral Sanctions on Iran’s Aviation, Shipping and Energy Networks
UK Economy Grows 0.4% in July as AI and Programming Services Lift Activity
UK House of Commons Rejects Assisted Dying Bill by 286 Votes to 270
UK Reviews Nationwide Emergency Alert Tests After Systems Meet Reliability Targets
UK Seeks Faster Rail Links Across Northern Industrial Corridors
British Business Bank Allocates £150 Million for High-Growth Companies in Northern England
BBC Warns Staff Strikes Are Possible Amid Pay Dispute and £500 Million Savings Drive
UK Backs Short Extension of UN Sudan Sanctions Regime
Prime Minister Andy Burnham Defends Early Prison Release Reforms and Growth Strategy
Reform UK Faces Scrutiny Over Alleged Effort to Circumvent Foreign Donation Rules
UK Analysts Warn Tax Rises or Spending Cuts May Be Needed to Preserve Fiscal Headroom
Jaguar Land Rover Plans Up to 4,000 Job Cuts in £1.7 Billion Cost-Saving Drive
UK Chancellor Warns of Difficult October Budget as Borrowing Costs Rise
UK Declares Israeli Occupation of West Bank Unlawful and Expands Sanctions
UK House of Commons Rejects Assisted Dying Bill for England and Wales
English Councils to Gain Power to Introduce Tourist Taxes by 2028
Kemi Badenoch Reshuffles Conservative Shadow Cabinet
Firefighters Make Progress Containing Major Wildfires in South Wales
John Lewis Partnership Reports £124 Million Loss
Study Says UK AI Data Centres Will Create Only a Quarter of Forecast Jobs
UK Government Considers Higher Industrial Water Prices Amid Supply Pressures
Andy Burnham Holds First Call With Donald Trump as UK Prime Minister
NHS Records Busiest Summer on Record as Heatwaves Drive Hospital Admissions
Home Secretary Orders Police Crackdown on Far-Right Anti-Migrant Vigilantes
UK Supreme Court Rules Northern Ireland Religious Education Curriculum Breaches Human Rights Standards
Markets Price in Four Bank of England Rate Rises by Next Summer
House of Commons Prepares Free Vote on Assisted Dying Bill
UK Government Bans Trade With Israeli Settlements in Occupied Territories
UK Economy Grows 0.4% in July as Artificial Intelligence Investment Supports Expansion
Andy Burnham Becomes UK Prime Minister After Keir Starmer Resigns
John Lewis Partnership Loss Widens to £124 Million
UK Government to Put White Working-Class Social Mobility at Centre of Equality Policy
McLaren Plans £450 Million Technology Investment Creating 1,000 UK Jobs
UK Chancellor Faces Calls for Wealth Taxes and Public Ownership in Autumn Budget
English Mayors to Gain Powers to Impose Uncapped Overnight Tourist Taxes
JPMorgan’s Jamie Dimon Warns UK Government Against Bank Windfall Taxes
UK Air Traffic Control Outage Cancels More Than 2,000 Flights
UK Imposes Trade Ban on Israeli Settlements in the West Bank
UK Borrowing Costs Surge as Middle East Tensions Push Long-Term Gilt Yields to Highest Since 1998
Buckingham Palace Says Prince Harry and Meghan Will Not Resume Official Royal Duties
UK Treasury Faces Calls to Scrap £100,000 Childcare Support Threshold
Trades Union Congress Urges Labour Government to Rewrite Migration Policy
Riot Police Deployed After Anti-Migrant Protests Turn Violent in Portsmouth
UK Considers Replacing Some Disability Cash Payments With Direct Services
JPMorgan’s Jamie Dimon Warns UK Chancellor Against Higher Banking Taxes
×