It’s no surprise to anyone sitting at home watching the Amazon trucks drive by every day, that Amazon posted a whopping $108.5 billion in quarterly revenue, a 43% increase from Q1 2020.
"Folks will be going back to restaurants, they'll be going back to bars, they'll be going to entertainment venues. And the question is, you know, will spend going offline affect Amazon's number in Q2?" said Jason Boyce, Author of The Amazon Jungle: The Truth About Amazon.
But for now, Amazon and the four biggest names in tech have all shattered earnings expectations.
Google and YouTube’s parent company Alphabet reported first-quarter sales were up 34% from a year before with much of that coming from products like Google search. YouTube alone earned $6 billion.
Apple’s revenue grew 54% thanks to a surge in sales of iPhones, Mac computers and iPads.
And Facebook took in $26.1 billion, up 46% on advertising growth. Daily active users grew to 1.88 billion people, up about 8% from last year.
Many tech companies thrived during a pandemic which kept people indoors — working and shopping and playing from home.
What happens when the world is set free?
Analysts think companies like Amazon may see sales slow in Q2 as more businesses open up.