FT News Briefing Big tech earnings, US economic data, early voters pour in for US presidential election
Oct 30, 2020
Tech giants reported mixed earnings, with Google leading a rebound in ad sales post-pandemic. Donald Trump is leveraging strong GDP growth to bolster his re-election bid. Meanwhile, early voting has hit record highs ahead of the U.S. presidential election, raising concerns over mail-in voting and potential legal conflicts. As political tensions rise, the implications for voter turnout could be significant amid ongoing economic challenges.
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Mixed Big Tech Earnings
- Big tech earnings reports were mixed, with Alphabet soaring due to rebounding ad sales.
- Other companies like Apple saw drops due to lack of forecasts.
Alphabet's Ad Revenue Rebound
- Alphabet's shares surged 8% after reporting unexpectedly high profits fueled by a rebound in online advertising across various categories.
- This came despite the company's recent antitrust lawsuit.
Facebook & Amazon Growth
- Facebook and Amazon also saw growth, with Facebook exceeding expectations despite an earlier advertiser boycott.
- Amazon benefited from early holiday shopping and increased e-commerce activity.