Tech Earnings Surge Amid Pandemic
The COVID-19 pandemic has had a devastating impact on businesses around the world, but many of the largest, most influential, and most profitable companies on Earth have actually benefited from the unprecedented global catastrophe. Amazon, Alphabet, Apple, Facebook, and Twitter all released earning reports in the past few weeks; here’s how they performed, and what that means for digital marketing.
Amazon annihilated expectations last quarter, as quarantined consumers continued to order items online rather than shop in-person. That’s good news for Jeff Bezos, but doesn’t do much for small businesses relying on pandemic foot traffic and local online orders. Digital marketing professionals will have to work hard to ensure their SMB clients can be seen and heard over Amazon’s racket.
After a brief dip in July, Alphabet’s digital ad revenues returned to growth last quarter as businesses came back online. Translation: search engine marketing is more competitive than ever but continues to deliver sterling results when managed correctly.
Facebook continues to blow past warning sign after warning sign on its road to social media supremacy. Daily active users in the United States declined from 256 million to 255 million last quarter but increased everywhere else. Advertisers staged large-scale boycotts during the summer to protest the company’s unwillingness to confront misinformation and hate speech, yet revenue increased 22 per cent in July, August, and September.
Twitter is struggling and remains an unpopular social media advertising destination. It’s comparatively petite user base failed to grow significantly last quarter, underperforming analyst expectations. Although Twitter remains an important soapbox for politicians, journalists, and activists, its audience may have plateaued.
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