WEDNESDAY, 2 DEC 2020

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

Emilianidou: Government To Support Businesses And Employees During December

Cyprus President Tells UN Envoy He Is Ready To Attend Informal Meeting On Cyprus

IMH LTD

INTERNATIONAL

brought to you by CIPA

For Amazon, Apple, Facebook and Google Business Is Booming

For Amazon, Apple, Facebook and Google Business Is Booming

Google parent Alphabet Inc on Thursday powered back to sales growth, beating analysts' estimates for the third quarter as businesses initially hobbled by the coronavirus pandemic resumed advertising with the internet's biggest supplier of ads. Alphabet shares, up 13% on the year, rose 8.5% after hours to $1,689.89.

 

Google’s billions of users are spending more time online transacting and entertaining themselves this year as they try to avoid the virus. But many advertisers ceased spending in the second quarter as travel and leisure activity disappeared. As the global economy in the third quarter began to chug along again, advertisers flocked to Google to let shoppers know about deals and adjusted service offerings. Google also gained from political ad spending ahead of the U.S. presidential election on Nov. 3, advertising analysts said.

 

Ad sales surged across all regions and industries, Alphabet Chief Financial Officer Ruth Porat said. For instance, U.S. revenue grew 15% in the third quarter compared with 1% in the second quarter. “While we’re pleased with our performance in the third quarter, there is obviously uncertainty in the external environment,” Porat said.

 

Google rival Facebook warned that the recent bump in online shopping, which has been good for online ad sellers, may not carry through next year. Alphabet’s bounce-back followed its first sales decline compared with a year-earlier period in the second quarter, since going public in 2004. Third quarter sales were $46.2 billion, up 15% from a year ago, compared with the average estimate of $42.9 billion, or 5.9% growth, among analysts tracked by Refinitiv.

 

Alphabet’s profit was $11.2 billion, or $16.40 per share, compared with the average estimate of $7.698 billion, or $11.18 per share. Earnings benefited from cutbacks in marketing and travel and in particular a 20% drop in spending on equipment and workspace construction. Google ad sales accounted for 80% of Alphabet’s revenue, with bumps across each of the ads businesses where Google technology dominates the online landscape, including search, YouTube and the broader web.

 

Facebook, Amazon.com Inc AMZN.O and Twitter Inc TWTR.N also released financial results on Thursday that were above expectations, showing how internet companies have fared well through the pandemic. Facebook shares on Thursday were up 30% this year, Amazon 71% and Twitter 51%.

 

Source: Reuters & BBC

MORE ON INTERNATIONAL

Merkel Raised Concerns About The World's Poorest Securing Covid-19 Vaccines

Germany's chancellor has raised concerns about the world's poorest securing ...

UK Signs Trade Deal With Canada To Prepare For Brexit

Britain and Canada on Saturday signed an interim trade deal that guarantees continuity ...

Trial Of Ex-President Sarkozy A Landmark For France

He was nicknamed the "bling-bling" president for what many in France saw as his ...

FROM AROUND GOLDNEWS

   

Bitcoin Peaks At Record High Close To $20,000

Bitcoin has traded at its highest value to date, reaching $19,920.53 (£14,821) according to data-provider Coindesk. It took the virtual currency nearly ...
   

Cyprus Expenditure On Healthcare At 6,7% Of GDP, Well Below European Average

The most recent statistics from Eurostat on current healthcare expenditure (public and private) show that on average in the EU, healthcare expenditure amounted ...
   

It Already Smells Like Christmas At Alphamega Hypermarkets

The countdown to Christmas has already begun and with its new TV ad, Alphamega Hypermarkets is reminding us how magical the merriest season of the year can be. ...
   

Emilianidou: Government To Continue Supporting Businesses And Employees During December

Labour and Social Insurance Minister Zeta Emilianidou called on companies affected by the decree of the Ministry of Health in December, not to dismiss ...
   

Cyprus President Tells UN Envoy He Is Ready To Attend Informal Meeting On Cyprus

President of Cyprus Nicos Anastasiades expressed the readiness and determination of the Greek Cypriot side to attend an informal meeting on Cyprus, which will ...
   

Fighting Fraud: An Insight Into NCA’s Use Of Non-Conviction Based Powers

Bank of Cyprus is presenting the digital “3rd Cyprus Anti-fraud Conference” on Tuesday, 15 December 2020. This year’s event will welcome a ...
   

Phivos Stasopoulos: We Are Extremely Well Positioned To Support Our Viable Clients

Hellenic Bank stated a profit after tax of €40,0 million in the first nine months of 2020, according to the Group’s financial results. For the same ...
   

1st Limassol Corporate Blood Donation - Together We Care

In an effort to raise awareness regarding the importance of giving back to society, and the donation of blood in this time of need, the corporate community of ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Anti_Fraud_17/11-14/12_300x250px
Invest_Cyprus_12/10-12/12

IMH LTD