Fb, Amazon and co. stun tech market with huge revenue increase

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The most recent revenue outcomes from the tech giants present they’re seemingly impervious to financial actuality, authorities persuasion or regulation.

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Fb CEO Mark Zuckerberg.

Tech giants Apple, Amazon, Alphabet (Google) and Fb have surprised Wall Road by managing to spice up June quarter revenues to a file US$200 billion (roughly A$280 billion) and income to a mixed file of virtually US$29 billion (A$40 billion).

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The 4 firms appeared largely resistant to the fast financial slowdown in the US and different international locations, prospering amid the COVID-19 doom. The outcomes come a day after US Congress grilled every firm’s CEO, and amid Australia’s makes an attempt to rein within the energy of Google and Fb.

The quarterly outcomes present that the businesses (alongside Microsoft) are seemingly impervious to financial actuality, authorities persuasion or regulation, and freed from these pesky shareholders — particularly large title hedge funds and activists.

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