The COVID-19 pandemic has reaped rewards for Big Tech companies that benefitted from the shift to remote working and learning. Apple earned $21.7 billion in profit for the quarter that ended in June, the most successful quarter in the company’s 45-year history, while Alphabet and Microsoft also enjoyed strong quarterly earnings. Apple’s revenue rose 36 percent from the same period a year earlier to $81.4 billion, exceeding Wall Street expectations. Apple is on track to earn $86 billion for the fiscal year, according to FactSet analysts. Continue reading Apple Just Earned Its Biggest Profit in the Company’s History

With millions of Americans stuck at home, Facebook’s usage — especially messaging and video calls — has skyrocketed, and driven traffic to purveyors of coronavirus news. So much so that, as of a week ago, more than 50 percent of the articles being read on Facebook in the U.S. were coronavirus-related, and U.S. traffic from Facebook to other sites also soared 50+ percent due “almost entirely” to the coronavirus. But the social media companies aren’t spared the economic impact of the virus: a decrease in marketing dollars. Continue reading Coronavirus Transforms Facebook into Major News Hub Again

Twitter revealed that, in Q4, revenue rose 11 percent to $1.01 billion, the first time that quarterly revenue topped the billion-dollar mark, and surpassing the $992 million projected by Wall Street analysts. The company stated that income was $118.8 million, with costs rising 22 percent from a year earlier. Its operating income, a closely watched number, was $153 million, down from $207 million the previous year and lower than the $161 million predicted by analysts surveyed by FactSet. Shares rose about 15 percent. Continue reading Shares Rise as Twitter’s Revenue Passes $1B for First Time

Alphabet, Amazon and Microsoft reported significant Q3 growth: Alphabet’s profits rose 33 percent, Amazon’s 34 percent, and Microsoft’s 12 percent. The higher earnings are a reflection of the dominance of a few big companies that continue to expand into new markets. For example, enjoying the fruits of its flourishing cloud computing sector, Alphabet posted a 40 percent increase in non-advertising revenue, to $3.41 billion. News that Amazon obtained licenses from several state pharmaceutical boards also rocked the market. Continue reading Alphabet, Amazon, Microsoft Dominate With Major Q3 Growth

Amazon is getting ready to rollout Seller Flex, a new delivery service it has been testing in India for the last two years. With the service, more products will be eligible for free two-day shipping. Sources say this will not only ease overcrowding in the company’s warehouses but also shift more of the delivery functions away from its long-time partners United Parcel Service and FedEx. The confidential U.S. pilot project is taking place in West Coast states, with a wider rollout planned for 2018.
Continue reading Amazon Taking More Delivery In-House, Rivaling UPS, FedEx

Facebook has a strategy to become more useful in everyday life, combining and improving on the services similar to those from Yelp, Foursquare and others. The added value, says Facebook, would be its network of social connections and businesses. That idea is behind the updates the company is now unveiling, which will allow users to order food from a restaurant’s Facebook page or make an appointment at the beauty salon. Retailers must use third-party services such as Delivery.com, Slice, HomeAdvisory or MyTime for it to work. Continue reading Facebook Integrates Social and Utilitarian with New Features

Although rumors are swirling that Amazon plans to open a global shipping and logistics operation to compete with both FedEx and United Parcel Service, the company’s chief financial officer Brian Olsavsky said that Amazon is merely looking to supplement its shipping partners during busy periods such as Christmas. But Amazon might actually have more ambitious plans than Olsavsky is willing to admit. A 2013 report targeting Amazon senior management actually proposes a major expansion of its Fulfillment By Amazon. Continue reading Amazon is Quietly Building “One-Click-Ship” Global Delivery Biz