Big Tech’s Results in the Spotlight
3 minutes ago
Tim Cook Credits iPhone SE Launch, Stimulus Measures for Results
Apple Chief Executive Tim Cook credited the company’s better-than-expected revenue for the second quarter to a strong launch of the iPhone SE in April, economic stimulus measures from countries world-wide, and the lifting of shelter-in-place restrictions.
“There were a lot of things going in the right direction,” Mr. Cook said.
14 minutes ago
Most Apple Employees to Work From Home Through End of Year
Most Apple employees are set to continue working from home through the end of the year, CFO Luca Maestri said Thursday.
Apple made some cost savings because staff are traveling less but some of those savings had been offset by unforeseen expenses, including matching employee donations in recent months amid the Black Lives Matter protests, Mr. Maestri said.
14 minutes ago
Apple’s Cook Expects Strong Back-to-School Sales
Apple CEO Tim Cook expects the Mac and iPad businesses to benefit from a strong back-to-school season.
He said the shift to working from home and remote learning had boosted those segments in the most recent quarter.
But Mr. Cook added that just as those product lines have benefited from people staying home, more sales of wearables such as the Apple Watch and AirPods have suffered.
23 minutes ago
Google Cloud Computing Business Revenue Grows, Still Behind Microsoft
Google parent Alphabet posted a 43% rise in revenue in its cloud computing business on Thursday, as the company continues to hammer into new markets.
The growth is still slower than that of the cloud businesses at some of Google’s larger peers.
Microsoft’s cloud division Azure–more than four times the size of Google’s by revenue–grew by 47% in the most recent quarter, the company said last week.
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30 minutes ago
Amazon Web Services Aided by Popularity of Zoom
The growth in video chat company Zoom during the pandemic helped lift sales at Amazon’s web services unit, which hosts a significant amount of Zoom’s network.
Amazon Web Services had $10.8 billion in second-quarter sales, a 29% increase from the year before.
The shift in remote work has been good for cloud computing. Last week, Microsoft said sales in its Azure cloud services unit grew 47% from a year earlier, and strong demand for Intel’s computing power services lifted its profit by 22%.
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Last Updated: Jul 30, 2020 at 6:26 pm ET
The Big Four tech companies—Alphabet’s Google, Amazon, Facebook and Apple—reported earnings after the closing bell Thursday. The results followed congressional antitrust hearing a day before in which the CEOs of the companies faced criticism for their business practices.
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