London Daily

Focus on the big picture.
Wednesday, Oct 07, 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
Laura Trott Pledges Tighter Controls on Political Activism in UK Classrooms
Welsh Ministers Launch Long-Term Review of North Wales and Anglesey Crossings
Welsh Government Orders 18-Month Study of Road Solutions Around Newport
Reform UK MP Sarah Pochin Faces Scrutiny Over £800,000 Second Home Purchase
British Households Grow More Concerned About Fuel and Energy Prices
NHS Leaders Warn of Rising Winter Pressure on Emergency Departments
Kemi Badenoch Proposes £2.3 Billion Employer National Insurance Cut for Young Workers
Middle East Conflict Could Erase UK Fiscal Headroom, Economists Warn
Manchester City Found Guilty of Multiple Premier League Financial Rule Breaches
UK Security Services Find Strong Indications of Iranian Role in RAF Fairford Incident
Costa Coffee Returns to Operating Profit on Iced Drinks and Menu Changes
Asos Warns Customers After Unauthorized Access to Retail App and Data
Kemi Badenoch Puts Growth and Deregulation at Center of Conservative Conference
Campaigners Warn of Deepening Social Care Crisis for Disabled Adults
Study Finds Rising Early-Onset Cancer Rates Among Adults Under 50 in Britain
UK Coach Operators Warn High Diesel Prices Could Force Route Cuts
FCA Opens Independent Review Into Handling of Epstein-Linked Whistleblower Case
Argentina Vows to Block Falkland Islands Offshore Oil Development
UK Chancellor Prepares Fiscal Measures and Welfare Reforms Ahead of Autumn Budget
Sainsbury’s and Morrisons Explore Potential Multi-Billion-Pound Merger
UK Weighs Tariffs on Chinese Electric Vehicles to Align With European Union
UK Threatens Diplomatic Expulsions Over Planned Closure of East Jerusalem Consulate
UK Energy Price Cap Hits Three-Year High as Middle East Conflict Raises Costs
Seventh Arrest Made in Suspected Terror Plot at RAF Fairford
Systemic Education Collapse Sparks Mass Student Uprisings in France
Green Party Faces Backlash Over Resolution Equating Zionism With Racism
Conservatives Debate Scrapping Environmental Rules for New Homes
Cornwall Insight Warns UK Energy Bills Could Approach £2,000 This Winter
UK Coach Operators Warn of Service Cuts as Diesel Prices Exceed £2
Scottish Parliament Approves £68 Billion Budget With New Tax and Property Measures
FCA Opens Independent Review Into Handling of Epstein Whistleblower
UK Government Drops Plan to Suspend Jury Trials in England and Wales
Bank of England Holds Interest Rate at 3.75% as Markets Watch November
Two Iranian Nationals Charged Over Alleged Plot Targeting Manchester Jewish Community
UK Fiscal Headroom Halves to £11 Billion Ahead of Budget, EY Warns
US Bomber Withdrawal From RAF Fairford Prompts UK Security Review
Sarah Wakfer Appointed Chair of Northern Ireland’s Health and Care Regulator
Scotland Housing Completions Fall to 11-Year Low Amid National Shortage
UK Water Companies Face Tougher Oversight and Unannounced Regulatory Inspections
Middle East Conflict Pushes UK Fuel and Wholesale Energy Prices Higher
Andy Burnham Raises Prospect of Second Brexit Referendum in Review of UK-EU Relations
EY Warns UK Fiscal Headroom Has Halved to £11 Billion Ahead of Autumn Budget
BT Accused of Pressuring Vulnerable Customers During Digital Landline Shift
British Carmakers Warn of Growing Pressure From EU-China Tariff Dispute
Green Party of England and Wales Adopts Motion Defining Zionism as Racism
Medical Charity Threatens NHS Legal Action Over Two-Year Autism and ADHD Assessment Waits
British Transport Police Report Record Rise in Violence on Railways
Glasgow Council Workers Face Pay Cuts Under Fire-and-Rehire Plan
British Medical Groups Press Prime Minister Andy Burnham to Cancel £330 Million Palantir NHS Contract
UK Faces Record Bluetongue Outbreak Across Livestock Farms
×