Tuesday, November 3, 2020

Q3 financials overload: Facebook, Amazon, Twitter… | Music Ally

It wasn’t just Alphabet, Spotify and Apple publishing their latest financial results yesterday: FacebookAmazon and Twitter were at it too.

Here’s a precis of the key figures. Facebook’s revenues grew by 22% year-on-year to $21.47bn, with a net profit of $7.85bn. Amazon’s revenues were up 37% to $96.15bn, with a net profit of $6.33bn. And Twitter’s revenues grew by 14% to $936.2m, with a net profit of $28.7m.

As for user stats in the social companies’ cases: Facebook ended Q3 with 1.82bn daily active users and 2.74bn monthly active users, with 2.54bn people using its family of services (Instagram and Messenger included) on a daily basis.

Twitter, meanwhile, saw its average monetisable daily active users grow by 29% year-on-year to 187 million people. There was nothing notable to report from any of the financials on the music front.

Stuart Dredge

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