Facebook, Apple, Google, Amazon report mixed earnings in Covid-hit quarter

Big Tech companies reported mixed quarterly earnings on Thursday, a day after their top executives faced a tough congressional grilling over their market power and alleged monopolistic practices.

The staggering economic fallout caused by the coronavirus pandemic was reflected in reports released Thursday from Amazon, Facebook, Apple, and Google's corporate parent, Alphabet.

Apple delivered surprisingly strong numbers with both its revenue and profit rising, defying analysts' lowered expectations. The iPhone maker's revenue rose 11 per cent to nearly $60 billion while profit rose 12 per cent to $11.3 billion.

Alphabet, Google's holding company, reported its first-ever drop in quarterly revenue