Apple, Google, Facebook, and Amazon revenue exceeds expectations

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“We’ve created over 175,000 new jobs since March and are in the process of bringing 125,000 of these employees into regular, full-time positions. And third-party sales again grew faster this quarter than Amazon’s first-party sales. Lastly, even in this unpredictable time, we injected significant money into the economy this quarter, investing over $9 billion in capital projects, including fulfillment, transportation, and AWS.”

Sales at AWS, cloud-computing unit, rose to $10.8 billion from $8.38 billion, slightly below the analyst’s predictions.

Facebook revenue exceeds expectations

Facebook’s numbers showing revenue of $18.69 billion was better than analysts expected, according to Factset. The company’s adjusted per-share earnings of $1.80 also surpassed expectations.

Shares rose 5% in after-hours trading. Before the results, the stock had risen 14% in 2020.

Facebook posted less growth in the second quarter but revenue was still higher than analysts predicted.

With the “facing a period of unprecedented uncertainty in our business outlook” they anticipate that year-over-year ad revenue growth rate for the third quarter will be similar to the July performance. Facebook sees 2020 Capital expenditures of about $16 billion. Quarter two capital expenditures, including principal payments on finance leases, were $3.36 billion.