In no uncertain terms, American tech giants are among the most profitable organizations in the world. Currently, the total market cap of the top five US tech companies: Facebook, Microsoft, Amazon, Apple, and Google, stands at $9 trillion. And they keep getting richer. Let’s look at three US tech companies and their Q2 earnings for 2021.
Alphabet, the parent company of Google, has recorded a solid second-quarter performance. The company published the new figures on Tuesday. Alphabet’s Q2 earnings totaled $61.9 billion. The tech mammoth also recorded a net income of $18.5 billion, with earnings per share of $27.26. In essence, Alphabet witnessed a net income expansion of 166%.
Google search saw a $14 billion year-over-year jump. Meanwhile, Youtube ads raked a tidy $7 billion, up by $1 billion from last year. The company attributes Youtube’s impressive figures to the popularity of the network’s TikTok-esque feature, YouTube Shorts.
On July 26, EV giant, Tesla also published their Q2 FY 2021 earnings, and the figures were jaw-dropping. For the first time, the tech company’s quarterly net income edged past the 1 billion-dollar mark and now stands at $1.14 billion. Tesla’s Q2 adjusted earnings per share was pegged at $1.45 vs. 97 cents and 44 cents year-over-year. Total automotive revenue also stands at $10.21 billion.
Earlier on, Tesla disclosed that it had made 201,250 vehicle deliveries at the end of the second quarter of 2021. The tech heavyweight also made $801 million in Q2 earnings from its solar-energy subsidiaries.
Snap, the owner of the popular social network, Snapchat, has also registered a strong Q2 performance.
On July 22, the tech company posted an unprecedented 116% increase in year-over-year Q2 earnings. Other figures shared were a gross revenue of $982 million and earnings per share of $0.1. The social media giant also recorded some 55 million new users, taking their MAUs to a whopping 293 million.
Q2 Earnings of Tech Companies: Against All Odds
It’s worth noting that the solid Q2 earnings of these three tech US companies are in defiance of Covid-19 uncertainties, expert projections, and other odds. Therefore, by all means, congratulations are in order.