TECH
The coronavirus pandemic could not hinder the seven largest tech businesses from increasing revenue by $3.4 trillion in total last year, indicating that they indeed had a big year in 2020. Although these corporations earn profit in diverse ways, the findings served as yet another indication of their power over their consumers.
Amazon recorded $108.5bn in revenue in the first 3 months of the year, a 44% increase over the same period last year, thanks to the pandemic pushing sales online and consumers flushed with stimulus checks from the government. In terms of dollars per minute over three months, this equates to $837,330. In addition, it reported a profit of $8.1bn, representing a 220% rise over the same period the previous year.
Apple came in second place in revenue-per-minute, bringing in $691,234 every minute during the first quarter of 2021, only behind Amazon. In the middle of a pandemic, the business reported revenue of $89.6bn for the quarter, exceeding Wall Street projections by a wide margin. iPhone sales increased by 65.5% at the same time a year earlier, according to the company. Apple also has the highest market capitalization of any corporation globally, with a market pro of more than $2.2 trillion as of May 2021. Amazon has a market price of $1.76 trillion.
Meanwhile, according to the most recent quarterly data from Google’s parent company, Alphabet, which has a market price of over $1.6 trillion, the business earned $426,805 every minute. The corporation recorded a total of $55.3bn in sales during the first quarter of 2021. Microsoft, which has a market price of $1.9 trillion, recorded $41.7bn in quarterly sales this past week, equating to $321,805 in income each minute. The company’s advertising income increased by 69% to $50.44bn, thanks to what CEO Sundar Pichai has referred to as a “rising tide” of online activity between consumers and small and medium-sized businesses.
According to the company, Facebook, which has a market price of $925bn, generated $201,936 in income every minute and $26.2bn in overall revenue in the first three months of the year. Sales at Facebook Inc. increased by 48% in the first quarter, above analysts’ expectations due to robust demand from shops and other advertisers looking to capture the attention of the social network’s bns of users. Facebook also announced 2.85bn monthly active users, a 10% increase, more than the analysts’ expectations (2.83bn). In addition, the stock gained more than 6% in late-day trade.
Based on its GAAP, Tesla ($677bn market price), which generated $80,162 in revenue every minute, reported net profits of $438m with $10.4bn in quarterly revenue. The company reported a profit of $1.1bn, or $1.02 per share, in the second quarter, an increase from $104m in the same time a year earlier. It brought in $12bn in sales. More than 200,000 electric vehicles were sold by Tesla in the third quarter, up from around 91,000 vehicles sold in the same period a year earlier, when the coronavirus pandemic hindered sales and manufacturing for all automakers. Tesla sold 185,000 vehicles in the first quarter of 2021, according to the company.
Netflix (market price of $227bn) is coming off a year of record revenues in 2020. However, according to the company, the streaming giant’s subscriber growth slowed in the first quarter of 2021. Despite this, Netflix generated $7.2bn in sales in the year’s final quarter, equating to $55,270 in revenue every minute. With 4m new members in the first quarter, the streaming powerhouse fell short of its initial estimate of 6m and fell short by half of the 8m it gained by its last quarter in the year 2020. During the current quarter, the company expects to gain only roughly 1m new customers, which would be the slowest rate of growth the company has ever experienced.
PHARMACEUTICAL
Pfizer claimed that the vaccine generated $3.5bn in revenue in the first 3 months of this year, accounting for over a quarter of the company’s entire revenue. In the second quarter, it made $7.8 bn from the Covid vaccine doubling its $3.5bn in revenue in the first quarter. Pfizer, which distributes costs and profitability evenly with BioNTech, expects $15bn in sales in 2021 based on current agreements, according to the company. According to Pfizer, the final amount might be twice as large because the company expects to provide 2bn doses this year. According to a Barclays analyst, sales will reach $21.5bn in 2021 and $8.6bn the following year under the premise that the jab will be administered only once.
Moderna made its first-ever quarterly profit after selling $1.7bn worth of Covid-19 vaccines in the first three months of the year, marking the company’s first profit ever. It reported that it sold 102 m doses of its vaccine during the first quarter, resulting in total revenues of $1.9bn. Net income for the quarter was $1.2bn, compared to a loss of $124m in the same time the previous year. Moderna has stated that it expects revenues of $18.4bn in 2021.
It is the commitment of Johnson & Johnson to make its COVID-19 vaccine available on a not-for-profit basis for use in emergency pandemic situations. The business hopes to administer at least 1 bn doses this year throughout the United States, generating $10bn in revenue. Furthermore, J&J reported today that Covid-19 vaccinations accounted for barely $100m — or slightly more than 2% — of the company’s total sales of more than $22bn.
AstraZeneca’s Covid-19 vaccine generated $1.2bn in revenue in the first six months of this year, with sales more than doubling in the second quarter compared to the first. UK’s largest pharmaceutical company reported $894m in revenue from Covid-19 vaccine sales in June. This is an increase from the $275m it generated in the first three months of this year. Analysts predict that revenues will reach $1.9bn this year and $3bn in 2022. If AstraZeneca accomplishes its ambitious 3bn doses by 2021, the figure might be far higher.
