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Tech giants’ shares soar as companies benefit from Covid-19 pandemic

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July 30, 2020 at 10:27PM

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Amazon, Apple, Facebook and Google all reported positive second quarter results

Tech giants Amazon, Apple, Facebook and Google released results that showed how the sector has benefitted from the coronavirus pandemic on Thursday, sending their already sky-high share prices soaring in after hours trading.

Amazon reported a profit of $5.2bn for the quarter as sales rose to $88.9bn, 40% higher than the same period last year. Amazon Web Services, the company’s cloud computing division, reported revenues of $10.8bn for the quarter – boosted as companies and consumers shifted online during the pandemic.

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