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While we were staying home, Amazon amassed $96.1 billion in sales
The Coronavirus has been very good for Amazon’s bottom line. This success has helped further Amazon’s rapid expansion. The company announced that it has hired 100,000 permanent workers in North America as well is hiring another 100,000 seasonal employees.
Alphabet's revenue recovers despite looming antitrust lawsuit
That’s not only better than last quarter’s $38.3 billion but also beats last year’s $40.5 billion for the same period. This quarter’s increase in year-over-year revenues is 14 percent, compared to the same period last year’s 20 percent.
Spotify is adding users faster than it thought it would
After a short COVID-19 related slump in Q1 2020 and a rebound in Q2, Spotify saw big growth in subscriber numbers for its latest earnings period.
Samsung's mobile sales are up 51 percent over last year's numbers
According to Samsung, despite the pandemic profits in its mobile business are up sharply from the dip it experienced in 2019. Samsung already told investors to expect higher profits for Q3 of 2020, but now the detailed results are out, revealing operating profit in its mobile division that’s up 51 percent over the same period last year (PDF). Samsung also saw growth in its display business (which accounts for screens sold to others, like the OLED displays in Apple’s iPhone 12 lineup), and memory chips, which go in phones, servers and help power the graphics cards for new GPUs and game consoles.
Sony is still selling lots of games ahead of the PS5's launch
The company sold 1.5 million PS4 consoles during the period, which is 1.3 million fewer than the same period last year.
Microsoft is still a relentless money-making machine
As usual, Microsoft’s latest earnings report for Q1 2021 paints a rosy picture. The company reported earnings of $37.2 billion, up 12 percent from last year, with a net profit of $13.9 billion, an impressive 30 percent jump.
Tesla produced and delivered a record number of cars this quarter
Elon Musk had plenty to crow about during Tesla’s Q3 2020 earnings call on Wednesday. 500,000 deliveries is “a line in the sand that was a pipe dream six months ago as Tesla (and other auto players) have navigated this COVID backdrop," Wedbush Securities’ Dan Ives told Business Insider. Thanks to its strong sales and record deliveries, Tesla saw its revenue grow 39 percent YoY in Q3 and its operating income rise to a record $809 million en route to its fifth consecutive quarter of profitability.
Netflix predicts it will hit 200 million subscribers this year
Netflix has just released the results for its most recent quarter (PDF), revealing that it slightly missed its own projections, adding 2.2 million customers worldwide over the last three months instead of the 2.5 million it predicted.
Samsung's quarterly profit is up 58 percent from last year
Samsung's guidance for its Q3 earnings is in, and the company expects an operating profit of $10.6 billion. That's up 58 percent from the year before. A detailed breakdown will come later, but Reuters reports analysts who suspect that higher mobile phone sales — probably more from midrange handsets than its just-launched high end devices like the Galaxy Note 20 — and graphics chips for new gaming consoles contributed to the results.
Nintendo Switch hardware and software sales exploded over spring
The first quarter of Nintendo's financial year is usually a quiet one. Switch sales dip to their lowest point and tentpole releases are scarce. The company sold 5.68 million Switch consoles in the three-month window leading up to June 30th, 2020, which is more than double what it managed in the same period last year.
PS4 game sales almost doubled during the pandemic
In its latest financial earnings, Sony reported that 91 million PS4 games were sold during the three-month period leading up to June 30th, 2020. In addition, PS Plus -- a subscription service that's required to play PS4 games online -- now stands at 44.9 million members, up from 41.5 million at the end of the last quarter. The company sold 1.9 million PS4 consoles during the three-month period, which is up from the previous quarter (1.4 million) but down 41 percent on the same quarter last year (3.2 million).
Apple achieves a quarterly record amid iPhone launch uncertainty
It seems like Apple's steady cadence of product releases in the midst of a pandemic has seriously paid off. The company released its Q3 2020 earnings this afternoon, in which it reported $59.7 billion in quarterly revenue and $11.25 billion in net income -- that's up significantly compared to Apple's performance in the year-ago quarter. According to CEO Tim Cook, healthy growth across Apple's product and services divisions and notable sales gains around the world over the past three months have been enough to make this a record-setting quarter.
Alphabet saw its revenue dip due to the pandemic
It hasn’t been a good quarter for most people and Google parent company Alphabet is no exception. After sitting through a grueling five-hour grilling yesterday, CEO Sundar Pichai said today in the company’s earnings release, “We’re working to help people, businesses and communities in these uncertain times.” Alphabet saw its revenue for the second quarter of 2020 fall 2 percent compared to the same period last year.
Amazon doubled its profits last quarter thanks to COVID-related demand
Net sales also increased 40 percent to $88.9 billion this quarter. They also make up a heavy component of the aforementioned online grocery sales. “This was another highly unusual quarter,” said Jeff Bezos, Amazon founder and CEO.
Qualcomm results suggest the 5G iPhone will be slightly delayed
Qualcomm is warning investors a major phone launch will occur a little later in the year than usual, and all signs point to Apple's first 5G-equipped iPhones.
Samsung looks forward to quantum dot TVs, new game systems and phones
Samsung will launch its new Galaxy Note and Galaxy Fold devices next week, but its Q2 earnings rose on higher prices for memory chips and a one-time payment. Later this year it's predicting more growth in the mobile business from 5G, plus more demand for RAM due to new consoles launching.
Tesla's next Gigafactory is being built in Austin, Texas
Tesla announced its Q2 2020 earnings on Wednesday and reports its first full year of profitability to date.
Netflix plans to have even more originals in 2021
Netflix is fighting off competition HBO Max, Peacock and Disney+, adding more than 10 million subscribers in Q2 and racking up 99 million households viewing its big action release 'Extraction.'
Zoom usage peaked at 300 million daily participants in April
Zoom's earnings show how much people are relying on its video conferencing software.
PlayStation 4 sales pass 110 million
Sales and revenue for the fourth quarter slipped to 1.7 billion yen (roughly $16.3 billion), down billion yen (roughly $3.6 billion) year-over-year.
