Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020

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While the global economy struggles for survival, top tech giants have continued to thrive, unaffected by the pandemic crisis. According to the research data analysed and published by Comprar Acciones, Amazon, Facebook and Microsoft grew by double digits during the first nine months of 2020.

Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020
Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020 – www.brandspurng.com

Amazon’s revenue for the period totaled $260.5 billion, compared to $193.1 billion during a similar period in 2019. Its growth rate for the past nine months was an impressive 35%.

Revenue of the Top Tech Companies Jan-Sept 2019 and Jan-Sept 2020

Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020
Total revenue in billion U.S. dollars (Source: Statista) – www.brandspurng.com

On the other hand, Facebook grew by 17% from $49.6 billion in Q1 to Q3 2019, to $57.9 billion in 2020. Microsoft went from $97.3 billion during the first three quarters of 2019 to $110.2 billion in revenue for a similar period in 2020. That marked a growth rate of 13%.

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Google-parent Alphabet’s growth for the same period was 9% as it went from $115.8 billion to $125.6 billion.

Apple was the only company in the Facebook, Apple, Amazon, Microsoft and Google (FAAMG) group to post relatively lackluster performance, growing by only 4%. Its revenue went from $175.8 billion in the first nine months of 2019 to $182.7 billion for the same period in 2020.

iPhone Revenue Plunges by 20.7% in Q3 2020 Due to New Model Launch Delays

A similar trend was noted in Q3 2020 earnings results for the five big tech companies. Apple was once again the exception, posting small improvements while the rest reported stunning performances.

Apple’s revenue for its fiscal Q4 FY20 (ended on September 26, 2020) was $64.7 billion, marking a 1% increase year-over-year (YoY). Its earnings per share (EPS) was $0.73 against an expected $0.70.

Apple Financial Results Q3 2020
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Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020
Source: Apple Inc.

iPad revenue during the quarter increased by 46% YoY to $6.8 billion while Mac revenue soared by 28% YoY to $9.0 billion. Services revenue similarly rose by 16.3% to $14.55 billion.

However, there was a massive decline of 20.7% in iPhone revenue, falling to $26.44 billion. Among the weak points was a 28% drop in sales in China from $11.13 billion to $7.95 billion.

According to Apple’s Q3 2020 earnings call, a huge chunk of its China revenue typically comes from the sale of new iPhones in September. However, due to the pandemic, iPhone 12 launched later than usual this year, going on sale in October. As such, the launch season will be factored into Apple’s FY21 Q1 earnings in addition to the expected holiday shopping uptrend.

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Meanwhile, Alphabet experienced robust growth during Q3 2020 with revenue rising by 14% to $46.2 billion. In Q2 2020, Alphabet had reported its first ever quarterly decline as a result of a drop in ad revenue.

During Q3 2020, Alphabet generated $37.1 billion from advertising, increasing from $33.8 billion in Q3 2019. YouTube ads brought in $5.04 billion against StreetAccount’s estimated $4.39 billion. Profits rose remarkably, increasing by 59% to $11.2 billion. It translated to $16.40 in EPS.

Facebook Ad Reach Soars by 134.9% in North America; Global CPC Rises by 42.4%

Amazon has been among the top beneficiaries of the pandemic, as shopping trends have shifted to favor online platforms. During Q3 2020, its net sales shot up by 37% YoY to reach $96.1 billion.

Its profits nearly tripled compared to Q3 2019, reaching $6.3 billion. As a result, EPS was $12.37, almost $5 more than Wall Street analysts had estimated. The eCommerce behemoth is also expecting a big Q4 2020 courtesy of holiday shopping. According to its estimates, sales could rise by 28% to 38% YoY to reach $112 billion to $121 billion.

Facebook reported a revenue increase of 22% YoY during Q3 2020, reaching $21.47 billion. Its profits soared by 29% to $7.85 billion. Monthly active users (MAUs) across its family of apps rose by 14% YoY to 3.21 billion. On the Facebook app, MAUs increased by 12% YoY to 2.74 billion.

Notably though, it lost users in its top ad markets, the US and Canada, with MAUs dropping by 1 million to 255 million and daily users reduced by 2 million to 196 million.

Facebook Revenue Breakdown From Q3 2018 to Q3 2020

Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020
Total revenue in million U.S. dollars (Source: Statista)

It is interesting to note that of its Q3 2020 revenue, $21.22 billion came from ad spending. Only $249 million came from other segments according to Adweek.

According to data published by Socialbakers, Facebook ad reach soared by 134.9% YoY in North America in Q3 2020. Global cost per click (CPC) returned to pre-pandemic levels following an increase of 42.4% YoY.

For Microsoft, Q3 2020 revenue reached $35.0 billion from $30.6 billion in Q3 2019, an increase of 15%. Profits grew by 22% reaching $10.8 billion as EPS went from $1.14 to $1.40. Wall Street analysts had estimated its revenue to be at $33.7 billion and EPS at $1.26.

All in all, these three giants reported a total revenue of $152 billion during the three-month period.

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Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020 - Brand Spur

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Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020 - Brand Spur
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Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020 - Brand Spur


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Three Tech Giants Grow in Double Digits from Q1 to Q3 2020, $150B Total Revenue in Q3 2020 - Brand Spur
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