How were Technology Companies Affected by Coronavirus?

How were Technology Companies Affected by Coronavirus?

  As a result of the coronavirus pandemic measures, technology giant companies have been on the rise as a result of the world's retreat. In the process spent at home, people's turning to music platforms, TV series / movie sites and platforms from internet shopping increased the profit of some companies, while others did not meet their profit expectations. While the coronavirus outbreak continues, some companies have published their balance sheets. One of them is Amazon, the e-commerce company that the world knows about. According to the company's announcement on April 30, its sales increased in the first quarter of its balance sheet, but it was said that the profit rate did not meet the expectations due to spending to keep pandemic conditions. According to the data of 2019, the sales of the company increased by 26% this year, but it was stated that the spending of viruses made until June will reach 4 billion dollars. For this reason, compared to the previous year and this period, it was seen that there was a net decrease of 30%. Social media giant Facebook is a bit complicated. In fact, due to the decrease in digital advertising revenues, the company recorded the slowest growth since its inception. But despite this, it was able to increase its shares above 7% by showing a superior balance sheet performance. Compared to 2019 data, the company's revenue increased by 18% in the first quarter, reaching $ 17.74 billion. One of the companies that has been least affected by the coronavirus outbreak should be Microsoft, the company's shares increased by 3%. The company announced that its applications called Teams, which enables working remotely, reached 75 million users per day. Microsoft CEO explained the situation with the statement "We witnessed 2-year digital transformation in 2 months". Unlike its competitors, Twitter could not make its investor happy. In fact, despite the increase in income and loss in the first quarter, the shares of the company decreased due to anxious statements about the future. Although the number of Twitter users reached 166 million in the crisis environment, there was a 4.8% decrease in shares. Spotify, the online music listening platform, is on the side that is happy with the benefits of this crisis. Despite falling advertising revenues, the number of mercenaries of the company reached 130 million. In addition to all this, Netflix will undoubtedly be the happiest out of the crisis. Netflix, which has increased the number of new users with the closure of people to their homes, has earned 2 times more than expectations. The revenue of the platform, which is stated to have gained 15.8 million new members, was recorded as $ 5.77 billion.