The corona pandemic is doing the tech giants and internet platforms no harm. This is shown again on Wednesday from the quarterly results that Facebook, Apple and eBay have announced.
Facebook made a lot more money from advertisements in the first quarter of this year. The social networking site’s total revenue came to $ 26.2 billion, of which $ 25.4 billion came from advertising. In both cases, this was an increase compared to last year of just under 50 percent.
Facebook’s net profit was $ 9.5 billion, up from $ 4.9 billion early last year. The number of users of Facebook’s apps, in addition to Facebook also Instagram and WhatsApp, increased. In March, nearly 1.9 billion people used an app from Facebook’s stable every day; every month, this concerns about 2.9 billion people.
Apple also posted excellent figures again. The tech giant traditionally does less in a quarter without holidays. Still, compared to the same period last year, sales rose by 56 percent to 89.6 billion dollars, a record for that period of the year. Profits doubled to $ 23.6 billion.
Finally, online marketplace eBay also benefited from the corona pandemic. The revenues amounted to $ 3 billion. That is 42 percent more than the year before. According to CEO Jamie Iannone, this is the most significant revenue increase in a quarter since 2005. The profit increased by 45 percent to 758 million dollars.