In the third quarter of 2020,revenues generated from big tech companies, Google, Facebook and Youtube generated a cumulative $63.3 billion in ad revenue. Google’s revenue amounted to 46.02 billion U.S. dollars, up from nearly 38 billion U.S. dollars in the preceding quarter.
Ad-driven Twitter, Snap and Pinterest raked in slightly less than $2 billion. Apple, which posted a 1% increase in revenue amid a steep drop in iPhone sales.
Amazon Net sales increased 37% to $96.1 billion, and net income tripled to $6.3 billion. Alphabet Revenue of $46.17 billion was up 14% year over year, and net income jumped 59%, to $11.25 billion. YouTube ad revenue hit $5.04 billion, up 32%.
Facebook’s revenue for Q3 2020 was $21.5 billion, up by 22% year-over-year (YoY). From this amount, ad spend was $21.2 billion, nearly 99% of the total. It had increased from $17.4 billion in Q3 2019.
Facebook’s monthly active users were 2.74 billion as of the end of September (up 12% annually) and monthly active users across its family of apps was 3.21 billion (up 14% year-over-year).
Revenues generated from Google’s network member’ websites include revenue from ads served through advertising programs such as AdSense for AdSearch.
Other revenue include digital content products and apps sold through Google’s Play digital content distribution platform, as well as hardware include Chromecast devices and smartphones. Digital content platform Google Play is an increasingly important contributor to Google’s bottom line, especially as smartphones sales and Google’s Android platform’s global market share increase.