The world’s seven largest technology companies – Microsoft, Apple, Alphabet, Amazon, Meta, Nvidia and Tesla – collectively reported a net profit of $143 billion in the second quarter, representing a 27.6% increase year-on-year, according to their financial statements.
Often referred to as the “Magnificent 7,” the firms also saw combined revenues rise to $551.4 billion, up 15.4% compared with the same period last year and 6.6% from the previous quarter. Capital expenditures surged 66.1% annually to $96.8 billion, largely driven by investments in artificial intelligence and data centres.
Alphabet posted the highest net profit among the group at $28.2 billion, followed by Microsoft ($27.2 billion) and Nvidia ($26.4 billion). Tesla recorded the largest quarterly net profit increase of 186.6%, rising from $409 million to $1.2 billion.
Nvidia also achieved the largest growth in net profit value, increasing by $7.6 billion, while Alphabet and Apple saw declines of 18.4% and 5.4% respectively. On an annual basis, Nvidia led net profit growth with 59.2%, followed by Meta (36.2%) and Amazon (34.7%).
In terms of revenue, Amazon topped the group with $167.7 billion, while Tesla led quarterly growth with 16.3%. Capital expenditure was highest at Amazon ($32.2 billion), with Meta recording the largest annual increase of 111.8%.
Earnings per share were highest at Meta ($7.3), followed by Microsoft ($3.7) and Alphabet ($2.3). Tesla’s EPS surged 176.9%, while Alphabet and Apple saw declines.
Analysts say the tech giants’ aggressive investment in AI and long-term infrastructure has been a key factor behind their record capital spending and strong quarterly performance.
Turkmenistan is preparing for a presidential visit to Brussels as the European Parliament considers ratifying a partnership agreement that has been st...
Millions of Muslims around the world have begun observing Ramadan, the ninth month of the Islamic lunar calendar and the most sacred period in Islam....
Qarabağ FK will face Newcastle United in the UEFA Champions League play-off round on Wednesday evening in Baku, in what will be the first UEFA compet...
Meta Chief Executive Mark Zuckerberg is expected to testify in a high-profile trial in Los Angeles examining claims that the company’s platforms con...
The drumbeats have finally faded at the Marquês de Sapucaí, bringing the competitive phase of the Rio Carnival 2026 to a dazzling close. Over two ma...
Millions of Muslims around the world have begun observing Ramadan, the ninth month of the Islamic lunar calendar and the most sacred period in Islam.
Qarabağ FK will face Newcastle United in the UEFA Champions League play-off round on Wednesday evening in Baku, in what will be the first UEFA competition meeting between the two clubs.
Meta Chief Executive Mark Zuckerberg is expected to testify in a high-profile trial in Los Angeles examining claims that the company’s platforms contributed to youth addiction and mental health harm.
The drumbeats have finally faded at the Marquês de Sapucaí, bringing the competitive phase of the Rio Carnival 2026 to a dazzling close. Over two marathon nights of spectacle, the twelve elite schools of the "Special Group" transformed the Sambadrome into a riot of colour.
Cuba’s fuel crisis has turned into a waste crisis, with rubbish piling up on most street corners in Havana as many collection trucks lack enough petrol to operate.
Iran’s Revolutionary Guards navy held military exercises in the Strait of Hormuz on Monday (16 February), state-linked media reported. The drill took place a day before renewed nuclear negotiations between Tehran and Washington in Geneva.
Ruben Vardanyan has been sentenced to 20 years in prison by the Baku Military Court after being found guilty of a series of offences including war crimes, terrorism and crimes against humanity.
Canadian Prime Minister, Mark Carney, announced on 16 February that the Honourable Janice Charette has been appointed as the next Chief Trade Negotiator to the United States. She's been tasked with overseeing the upcoming review of the Canada-United States-Mexico Agreement (CUSMA).
The Pentagon has threatened to designate artificial intelligence firm Anthropic as a “supply chain risk” amid a dispute over the military use of its Claude AI model, according to a report published Monday.
ByteDance will take steps to prevent the unauthorised use of intellectual property on its artificial intelligence (AI) video generator Seedance 2.0, the Chinese technology firm said on Monday.
The formation of a black hole can be quite a violent event, with a massive dying star blowing up and some of its remnants collapsing to form an exceptionally dense object with gravity so strong not even light can escape.
BMW is recalling a mid six figure number of vehicles worldwide after identifying a potential fire risk linked to the starter motor.
British chipmaker Fractile will invest £100 million over the next three years to expand its artificial intelligence hardware operations in the UK, opening a new engineering facility in Bristol as it ramps up production of next-generation AI systems.
The European Union has launched its largest semiconductor pilot line under the European Chips Act, investing €700 million ($832 million) in the new NanoIC facility at IMEC in Leuven, Belgium, as part of efforts to strengthen Europe’s technological sovereignty.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment