Apple, Amazon, Facebook and Google all produce record sales amid Big Tech backlash

Federal antitrust charges against Alphabet Inc.’s Google; advertiser and user boycotts of Facebook Inc.; increasing scrutiny of Apple Inc. and Amazon.com Inc. by the news media and government regulators — all in the middle of a pandemic.

Profits at the Big Four totaled $38.08 billion, with growth at all the companies except Apple, which saw a 7% drop in net income due to a late rollout of the new iPhone. The overall performance is even better than last quarter, when the tech titans reported a combined $200 billion in revenue and a profit of nearly $29 billion, in the first full quarter of the COVID-19 pandemic.

Amazon, for its part, told investors that it expects to spend $4 billion in incremental COVID-19 costs, much higher than expected, which affected its forecast for operating profit, which came in at a lower range than expected, even after its record results. Amazon Chief Financial Officer Brian Olsavsky told analysts that the company has already incurred $7.5 billion in incremental COVID-19 costs for the first three quarters of the year.

“The largest portion of these costs relate to productivity headwinds in our facilities, including process revisions to allow for social distancing and incremental cost to ramp up new facilities in the large influx of new employees hired for customer demand,” Olsavsky said. “The acceleration in advertising revenue growth from Q2 to Q3 was largely driven by strong advertiser demand resulting from the accelerated shift from off-line to online exercise that we saw in connection with the pandemic,” Facebook Chief Financial Officer David Wehner told analysts.

$astc tomorrow Covid breath test no brainer wife is nurse and Covid is not going away 60 sec results

Yes. When this is over we'll be going outside again. We'll go to bars and movies and play music together again. We'll join clubs and amateur sports leagues. We will go outside. OUTSIDE. And we'll spend much less time on our soul stealing trinkets. And their revenue will fall.

An EMP

Anti-trust laws

Trump leaves Twitter.

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