Pandemic punishes Google and Facebook, leverages Apple and Amazon
The big tech companies, the so-called GAFA (Google, Amazon, Facebook and Apple) released quarterly results on Thursday that show different effects of the pandemic, a day after the leaders were heard and criticized in Congress.
Google and Facebook reported a slowdown in their growth rate, due to the cooling of sales of advertising and digital support, while Apple and Amazon had an increase in revenues and profits.
GAFA prices were rising in the so-called ‘after-hours’ transactions, since they occurred after the market closed, which reflects performances above analysts’ expectations.
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