Five takeaways from Big Tech’s blowout earnings | TheHill

A day after the heads of Google, Amazon, Apple and Facebook came under aggressive questioning from members of Congress as part of an investigation looking into their market size and power, all four posted strong earnings in the second quarter of 2020, even as the U.S. economy recorded one of its worst periods on record.

Amazon’s net income doubled to $5.2 billion between April and June, despite the company making a number of large investments associated with the coronavirus.

Daily active users of Facebook ballooned to 1.8 billion, an increase of 12 percent from the same period in 2019. Facebook executives associated the surge with lockdown measures that confined people to their homes, though warned that the rate of user growth was stabilizing due to the relaxing of health restrictions in parts of the world.

Five takeaways from Big Tech’s blowout earnings | TheHill