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[SAN FRANCISCO] Apple and Facebook posted astounding earnings and revenue on Wednesday last quarter. This is the latest sign that big tech is delivering to pandemic consumers around the world.
The quarterly blowout updates from the two Silicon Valley giants showed how consumers are increasingly turning to social media, digital services and Leaving gimmicks when they squat for the global health crisis.
According to Apple, holiday season profit rose 29 percent year over year to $ 28.7 billion, while revenue rose 21 percent to 111.4 billion US dollars rose, with international sales accounting for nearly two-thirds of sales.
Sales topped the $ 100 billion mark for the first time when Apple wowed pandemic consumers with new gadgets and services and solid Sales growth for iPhones, wearables and digital content was recorded.
« We are delighted with the enthusiastic customer response to the unsurpassed product line, which we presented in a histor Christmas time, « said CEO Tim Cook.
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Similar was the news on Facebook, where the global user base was growing in a world hit by the coronavirus outbreak.
Facebook posted $ 11.2 billion in revenue of $ 28 billion, up 53 percent and 33 percent from the same period last year.
« We had a strong year-end as people and businesses continued to use our services during these challenging times, » said Mark Zuckerberg, CEO of Facebook.
Facebook stated that its core social network had around 2.8 billion users at the end of December, while 3.3 billion people were using at least one of its « families » of apps, including Instagram, WhatsApp and Messenger.
The Silicon Valley colossus stated in the press release that it will face « significant uncertainties » in the coming year and pointed to new regulations that could limit the delivery of targeted advertising.Q. Acebook generates the majority of its revenue from advertising, and said it benefited as the pandemic accelerated a shift to online commerce, especially for products as opposed to services like booking travel.
« Looking at the future, a moderation or reversal of either or both of these trends could serve as a headwind to our advertising revenue growth, « Facebook said in the press release.
Facebook also cautioned that it was due to an evolving regulatory landscape and changes such as « Although the timing of changes to iOS 14 remains uncertain, we expect the effects to begin at the end of the first quarter », a change in the mobile operating system by Apple that would make it more difficult to target ads. » said Facebook.
The social networking giant opened fire on Apple last month and said the new measure The iPhone maker’s hiring of data collection and targeted advertising would hurt small businesses.
The dispute between the tech giants is centered on changes in the latest version of Apple’s iOS operating system software that include a tracking transparency feature, which Facebook says is the Ability to serve targeted ads.
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Ref: https://www.businesstimes.com.sg
