Amid pandemic, Amazon, Apple, Facebook report mixed earnings
The CEOs of Amazon, Facebook, Google, and Apple, appeared before the US Congress on Wednesday for a long-awaited antitrust hearing. The staggering economic fallout caused by the coronavirus pandemic was reflected in reports released on Thursday from Amazon, Facebook, Apple, and Google's corporate parent, Alphabet. The iPhone maker's revenue rose 11 percent to nearly $60 billion while profit rose 12 percent to $11.3 billion. The company's profit nearly doubled to roughly $6 billion from the same time last year. It reported record quarterly profit, doubling to $5.2 billion from last year while its revenue soared 40 percent to $88.9 billion.