Big Tech's 'staggering' earni…

Big Tech's 'staggering' earnings live up to market hype

CNN Philippines | 2020-07-31 13:15

What's happening: One day after the CEOs of Amazon, Facebook, Apple and Google were grilled by Congress about whether their companies are too powerful, the businesses posted earnings that showed they're only getting more dominant, my CNN Business colleagues Clare Duffy, Kaya Yurieff, Brian Fung and Rishi Iyengar report. "This is another sign that the strong have only gotten stronger," said Ryan Detrick, chief investment strategist at LPL Financial. The results drove Nasdaq futures 0.8% higher. Amazon's stock rose 5% in premarket trading, while Apple and Facebook shares increased 6%. Breaking it down: Facebook said Thursday that it had more than 3 billion monthly active users in the June quarter across its apps, including Instagram and WhatsApp. The company said that number reflected "increased engagement as people around the world sheltered in place." Amazon posted quarterly revenue…


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