World tech giants reported high sales and profits in the three months from June to September.
According to the BBC, Amazon recorded sales of US $ 96.1 billion, 37% higher than the same period last year.
The company also saw its profit value reach US $ 6.3 billion, which is three times more than last year's total profit.
The increase is driven by its e-commerce business in North America after everyone is increasingly turning to the online shopping trend. However, the firm's advertising and cloud computing business also showed a slight surge.
Despite recording high profits, Amazon said they had to incur a loss of US $ 2.5 billion during the Covid-19 pandemic and its reputation was tarnished following workers' protests over the workplace and other policies.
Facebook, on the other hand, reported that an average of 2.5 billion daily users used the platform last month, which is 15% higher than the same period last year.
However, the company warns the number of Facebook users is seen to be declining in the US and Canada. Both countries are the largest markets for Facebook and the company has informed its investors that the trend will continue.
Twitter also reported that 187 million active users used the platform during the June-September period, an increase of 1 million compared to the same period last year.
Although Google had to cut spending on advertising this year, its year-over-year profit increased by 14% and far outperformed economic analysts' expectations.
The increase helped Google's year-on-year profit jump by 59% to more than US $ 11 billion and increase the company's shares by more than 6% during after-hours trading (AHT).
Apple Inc sales reportedly reached US $ 64.7 billion, slightly higher than last year due to increased sales of laptops and iPads.
However, the company's shares declined in the AHT session after iPhone sales revenue fell by more than 20%, especially in the Greater China region.
Apple is confident that buyers are waiting for the release of its new smartphone, the iPhone 12, which will be on sale starting next month.
