Bezos king of the pandemic. Golden Lockdown for Amazon (and beyond)

Bezos king of the pandemic. Golden Lockdown for Amazon (and beyond)

How are the accounts of Amazon and Bezos

It has been said and repeated: during the lock down the tech giants did business. As the world GDP collapsed (bringing with it all the more classic sectors, starting from the automotive one ), the profits of Facebook, Amazon , Apple and Alphabet were soaring like never before. And Jeff Bezos was the one who made the most money in the midst of the pandemic.


The rush to buy during the quarantine, a race due partly to the need to vent stress, partly to the forced closure of physical competitors, allowed Bezos to take $ 7.6 billion in just three months. Gallops Amazon on Wall Street. In July, anticipating a six-monthly gold, it rose 15.6%, adding $ 23.89 billion to Bezos' fortune. Over the same time period the S&P 500 gained 4.5%. And let's remember that the health situation in the US and in a large part of the world is such that Amazon could do gold business for a long time.


As for the others, proceeding in strict alphabetical order: Alphabet, the company that controls Google, instead recorded its first drop in revenues even if it is only 2%, therefore lower than estimated. The previous low was in 2009 when revenues rose "only" (so to speak) by 3%. Alphabet's profits, on the other hand, hurt 30% to nearly 7 billion dollars. Apple has instead announced that it has seen its lock down profits rise by 11% to 11.13 billion dollars and revenues beyond expectations for 59.7 billion (always + 11%). This is despite the closure of the Apple Stores first in China then in Europe, then in the USA.


The pandemic then made Facebook competitive again: + 11% over the same period of 2019, which for the social network also coincided with its lowest result for 8 years. Advertising revenues, which are then the real engine of Mark Zuckerberg's company , doubled to reach around 6 billion.

This is a machine translation from Italian language of a post published on Start Magazine at the URL on Sat, 01 Aug 2020 09:20:25 +0000.