London Daily

Focus on the big picture.
Saturday, Jul 11, 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
The AI Invoice Shock: Layoffs Didn't Save Managers Money — They Cost Them More
Concern: Sexually Transmitted Bacterium Among Men Develops Antibiotic Resistance
Following Massive Investor Demand: SK Hynix Raises 26.5 Billion Dollars on Nasdaq
Passenger Partially Pulled Out of Ryanair Jet After Cabin Window Fails Mid-Flight
After Four Years, and Under a Heavy Veil of Secrecy: King Charles Meets His Grandchildren, Harry and Meghan's Children
Cross-Party MPs Call for National Climate Emergency Broadcast
Bayeux Tapestry Arrives in the United Kingdom for Landmark Exhibition
United Kingdom Launches Modern Slavery Prevention Programme in Vietnam
Police Warn Against Misinformation Following Disorder in Glasgow
Pension Reform Takes Effect to Consolidate Workplace Savings Industry
Treasury and Bank of England Monitor Economy as Energy Price Pressures Ease
Government Orders Treasury Reform of Disciplinary Procedures Following Civil Servant's Death
Ofcom to Require Major Technology Platforms to Block Scam Advertisements
Labour Apologizes Over Gaza Position in Bid to Rebuild Support
High Court Rules UK-France Asylum Agreement Protection Cuts Were Unlawful
Metropolitan Police Open Murder Investigation Into Death of Former MP Ann Widdecombe
University College London Report Proposes Replacing Council Tax and Stamp Duty With National Property Tax
Treasury Places Amazon, Google, Microsoft and Oracle Under New UK Financial System Oversight Rules
Severe Heatwave Drives Dangerous Ground-Level Ozone Pollution Across Two Thirds of European Union
Westminster in Freefall as Farage's By-Election Gamble Triggers Broader Systemic Crises
Institutional Fractures and Political Volatility Reshape Britain's Domestic Landscape
Deadly Fire, Health Emergencies and Political Upheaval Shape a Volatile Global News Cycle
UK Energy Strategy Focuses on Storage and Offshore Wind to Support Renewable Transition
Regional Governments Gain Greater Role in Britain’s Infrastructure and Economic Strategy
Britain Strengthens Technology Sovereignty Through Tougher Artificial Intelligence Competition Rules
UK Government Expands Artificial Intelligence Use Across Public Services Despite Privacy Debate
UK Universities Warn of Financial Pressure After Sharp Fall in International Student Enrolment
Welsh Government Completes Rail Nationalisation With One Point Five Billion Pound Modernisation Plan
Northern Ireland Records Export Growth as Companies Benefit From Dual UK and EU Market Access
Greater Manchester Launches Two Billion Pound Plan to Convert Empty Commercial Sites Into Housing
National Grid Connects Europe’s Largest Battery Storage Facility in Yorkshire
UK Defence Ministry Plans Royal Navy Autonomous Fleet Deployment to Indo-Pacific
Scotland Approves Europe’s Largest Floating Offshore Wind Project Near Aberdeen
Competition and Markets Authority Blocks Forty Billion Pound Technology Deal Over AI Security Concerns
UK Launches Five Hundred Million Pound Artificial Intelligence Network for National Health Service Diagnostics
Bank of England Signals Possible Interest Rate Cuts After Inflation Falls Below Target
UK Government Unveils Major Wealth Tax Reform to Fund National Health Service Infrastructure Expansion
Flight Instructor Jumped to His Death — Student Landed the Plane: "You Know What You Need to Do"
The Physical and Electronic Barriers Disrupting Domestic Wireless Networks
France and Morocco Open World Cup Quarter-Finals as Collina Defends Refereeing
Prince Harry Suffers Major Court Defeat in Legal Battle Against Daily Mail Publisher
Bonnie Tyler, Welsh Singer Behind Total Eclipse of the Heart, Dies at 75
Barclays and PwC Report Examines Economic Opportunities from Financial Asset Tokenisation
Pound Sterling Strengthens as Investors Anticipate Further Bank of England Rate Increases
British Business Bank Invests Twenty-Seven Million Pounds in Kraken Technology Defence Expansion
UK Business Secretary Peter Kyle Backs State Investment Strategy Inspired by US Approach
UK Electricity System Issues Margin Notice as Heatwave Tightens Evening Supply Outlook
Labour Leadership Contest Opens as Andy Burnham Emerges as Expected Sole Candidate
Tech Pulse: The Future of AI and Screen Culture
Global News Briefing: Escalating Geopolitical Tensions and Corporate Shakeups
×