Facebook turnover 20 percent up
Boycotting Facebook seems to have the opposite effect
The US stock exchanges are expected to be facing a lower opening on Friday. Wall Street processes strong quarterly results from big tech giants like Facebook, Apple and Amazon. At the same time, however, concerns about the increasing number of Coronas attacks in the United States and Europe are pressing on with sentiment. In addition, there is still no agreement in Washington on a new crisis support package for the US economy.
In the third quarter, Facebook gained over a fifth more revenue from advertising, despite the boycott announced by many large companies against the social media company this summer. In the near future, however, the tech group, which also owns Instagram and WhatsApp, is more pessimistic. The threat of stricter regulations for social media companies creates uncertainty.
Apple has sold more Mac computers than ever in the past few years. This is because people were working at home because of the coronapandemia, but also many children worldwide attended their classes at home via a computer. The turnover of the iPhone branch was disappointing. That’s because customers had to wait a little longer for the delayed iPhone 12 to arrive.
Amazon was able to maintain its high growth rate. Because many people prefer to shop from home because of the coronapandemia, sales increased by 37 percent. In addition, the profits of the web store giant tripled.
In addition, Twitter managed to connect more advertisers. Google mother Alphabet has also benefited from increased advertising revenue on the search engine and YouTube over the past period. Netflix also knew the focus on him. The streaming service has announced that it will increase its prices in the US.
Oil giants ExxonMobil and Chevron also came up with figures. They’re not doing so well. ExxonMobil has warned that it may have to write off up to $ 30 billion on its gas fields. Due to the coronacrisis there is much less demand for oil, gas and chemicals and the company’s assets have therefore become much less valuable. Branch Regent Chevron surprised with a modest adjusted profit of 201 million dollars, despite the lowest production of crude oil and gas in years.
Other companies that gave a look at the books included maker of soap, shampoo and toothpaste maker Colgate-Palmolive, Industrial Group Honeywell and coffee chain Starbucks. In the third quarter, the latter was again faced with fewer coffee sales due to the pandemic. The turnover loss was much smaller compared with the previous quarters.
The stock market meters in New York showed some recovery on Thursday after the heavy losses a day earlier. Among other things, investors processed a windfall figure on US economic growth in the third quarter. The Dow Joneser index was 0.5 percent higher at 26.6659, 11 points. The broad S & P 500 won 1.2 percent to 3310.11 points while the technology gauge Nasdaq increased 1.6 percent to 11,185.59 points.