Facebook, Amazon, Apple Shares Rise By Up To 6.5% After Financial Results Published

MOSCOW (Pakistan Point News / Sputnik - 31st July, 2020) Shares of US tech giants Facebook, Apple, and Amazon have risen by up to 6.5 percent after the close of trading on Thursday on the back of positive quarterly financial results published earlier in the day, according to market data.

Following the close of Thursday's NASDAQ trading, Amazon shares had risen by 5 percent, Apple by 6.4 percent, and Facebook by 6.5 percent.�

The rising trends follow the publication of strong financial results. Facebook on Thursday reported second-quarter net income of $5.2 billion, a record profit for the social media company.

On the same day, Apple published its financial results for the third quarter of the 2020 fiscal year. The company posted quarterly revenue of $59.7 billion, an 11 percent year-on-year rise, and profits of $11.3 billion.

Online retail giant Amazon also published its second-quarter 2020 results, which showed reported sales of $88.9 billion. The company's net profit doubled to $5.2 billion.

Alphabet, the US holding company that owns Google, suffered a revenue fall for the first time in its history. The company's year-on-year net profit slumped from $9.9 billion in 2019 to roughly $7 billion.

Despite the fall, Alphabet shares remained steady, gaining 0.5 percent.�