On the heels of CEO Jeff Bezos’ first congressional testimony, ecommerce giant Amazon announced its Q2 2020 results with net sales up 40% year over year to $88.9 billion and net income up $5.2 billion. In prepared statements and commentary during an earnings call today, both Bezos and CFO Brian Olsavsky called Q2 an unusual…
Q2: Facebook Acknowledges IDFA Loss Could Have A Material Business Impact
Despite a healthy second quarter that shrugged off the economic downturn, Facebook CFO Dave Wehner warned investors on Thursday that Apple’s IDFA changes coming in iOS 14 could “prove to be a challenging headwind.” “We’re still trying to understand what these changes will look like and how they impact us and the rest of the… Continue reading »
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The Lockdown’s Destruction
Launch a Podcast in Quarantine? You Can Enter It for Free in Adweek’s 2020 Podcast Awards
Adweek’s Podcast of the Year Awards launched in 2019 and quickly became one of the most high-profile honors for audio content that advances culture, creativity and professional storytelling. The awards program is back for 2020, but this time we’ve added a new–and one-time-only–category to the mix: Best Podcast Launched in Quarantine. Aimed at celebrating the…
Burn the Republican Party Down?
The Pandemic Flattened Alphabet’s Revenue
The coronavirus pandemic slashed Alphabet’s growth rate from 22% last year down to zero in Q2 2020. Revenues totaled $38.3 billion vs. $38.9 billion the year prior – a 2% year-over-year decline, or 0% once constant currency is taken into account. Like many of its advertising revenue-dependent peers, Google reported steady improvement throughout the quarter.… Continue reading »
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Facebook Outperforms Estimates for Revenue, User Growth in Q2
Despite the coronavirus pandemic running its course throughout the second quarter, Facebook managed to surpass expectations for revenue and growth in its user base during the three months ending June 30. Facebook was originally scheduled to release its financial results Wednesday, but the announcement was delayed by one day due to CEO Mark Zuckerberg’s testimony…
Apple Reports Increase in Q2 Revenue Across Products and Services
Apple announced revenues of $59.7 billion today for the second quarter ending June 27, representing an increase of 11% year over year as the company benefitted from “double-digit growth” in both products and services. The return equated to a record quarter for the iPhone-maker, which also saw revenue generated by “services” such as the App,…
Alphabet Reports First-Ever Revenue Decline in Company History
Alphabet, the parent company of Google, reported revenues of $38.3 billion for the second quarter of 2020, a time marked by significant economic disruption due to the Covid-19 pandemic. As analysts expected, this was the first time in the company’s history that its revenues fell year over year. Even with the relative decline, the company…
CEO Mark Read Acknowledges WPP Has Work to Do After Releasing Diversity Data
British multinational holding company WPP is acknowledging it has a diversity and inclusion problem. WPP released its workforce diversity data today as part of a commitment to accelerate systemic change in the industry and beyond, including a $30 million commitment to inclusion programs and antiracism charities. WPP noted in a statement that its most recent…