CNN BUSINESS | Apple, Google and Microsoft made $57 billion last quarter

London (CNN Business) – A rapid shift to digitization due to Covid-19 has handsomely benefited the world’s biggest tech companies. Yet even as the pandemic eased, they still minted record sums of money.

What’s happening: Yesterday’s “Before the Bell” focused on how Tesla (TSLA) celebrated earning more than $1 billion last quarter. Amazon (AMZN), Google parent Alphabet (GOOGL) and Microsoft (MSFT) just announced that they netted a combined $57 billion in profit during the same period.

“That level of profitability at the current scale is difficult to comprehend,” Bespoke Investment Group said of Apple’s $21.7 billion haul in a note to clients.

Google, which earned $18.5 billion, continued to be fueled by massive demand for online advertising as consumers spent more time shopping on their phones and laptops.  —read more