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How Big Tech Makes Their Billions

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Check out the 2022 edition of how Big Tech makes their billions for the latest update.

How Big Tech Makes Their Billions in 2020

How Big Tech Makes Their Billions

Check out the 2022 edition of how Big Tech makes their billions for the latest update.

The world’s largest companies are all in technology, and four out of five of those “Big Tech” companies have grown to trillion-dollar market capitalizations.

Despite their similarities, each of the five technology companies (Amazon, Apple, Facebook, Microsoft, and Alphabet) have very different cashflow breakdowns and growth trajectories. Some have a diversified mix of applications and cloud services, products, and data accumulation, while others have a more singular focus.

But through growth in almost all segments, Big Tech has eclipsed Big Oil and other major industry groups to comprise the most valuable publicly-traded companies in the world. By continuing to grow, these companies have strengthened the financial position of their billionaire founders and led the tech-heavy NASDAQ to new record highs.

Unfortunately, with growth comes difficulty. Data-use, diversity, and treatment of workers have all become hot-button issues on a global scale, putting Big Tech on the defensive with advertisers and governments alike.

Still, even this hasn’t stopped the tech giants from (almost) all posting massive revenue growth.

Revenues for Big Tech Keep Increasing

Across the board, greater technological adoption is the biggest driver of increased revenues.

Amazon earned the most in total revenue compared with last year’s figures, with leaps in almost all of the company’s operations. Revenue from online sales and third-party seller services increased by almost $30 billion, while Amazon Web Services and Amazon Prime saw increased revenues of $15 billion combined.

The only chunk of the Amazon pie that didn’t increase were physical store sales, which have stagnated after previously being the fastest growing segment.

Big Tech Revenues (2019 vs. 2018)

CompanyRevenue (2018)Revenue (2019)Growth (YoY)
Apple$265.6 billion$260.2 billion-2.03%
Amazon$232.9 billion$280.5 billion20.44%
Alphabet$136.8 billion$161.9 billion18.35%
Microsoft$110.4 billion$125.8 billion13.95%
Facebook$55.8 billion$70.8 billion26.88%
Combined$801.5 billion$899.2 billion12.19%

Services and ads drove increased revenues for the rest of Big Tech as well. Alphabet’s ad revenue from Google properties and networks increased by $20 billion. Meanwhile, Google Cloud has seen continued adoption and grown into its own $8.9 billion segment.

For Microsoft, growth in cloud computing and services led to stronger revenue in almost all segments. Most interestingly, growth for Azure services outpaced that of Office and Windows to become the company’s largest share of revenue.

And greater adoption of services and ad integration were a big boost for ad-driven Facebook. Largely due to continued increases in average revenue per user, Facebook generated an additional $20 billion in revenue.

Comparing the Tech Giants

The one company that didn’t post massive revenue increases was Apple, though it did see gains in some revenue segments.

iPhone revenue, still the cornerstone of the business, dropped by almost $25 billion. That offset an almost $10 billion increase in revenue from services and about $3 billion from iPad sales.

However, with net income of $55.2 billion, Apple leads Big Tech in both net income and market capitalization.

Big Tech: The Full Picture

CompanyRevenue (2019)Net Income (2019)Market Cap (July 2020)
Apple$260.2 billion$55.2 billion$1.58 trillion
Amazon$280.5 billion$11.6 billion$1.44 trillion
Alphabet$161.9 billion$34.3 billion$1.02 trillion
Microsoft$125.8 billion$39.2 billion$1.56 trillion
Facebook$70.8 billion$18.5 billion$665.04 billion
Combined$899.2 billion$158.8 billion$6.24 trillion

Bigger Than Countries

They might have different revenue streams and margins, but together the tech giants have grown from Silicon Valley upstarts to global forces.

The tech giants combined for almost $900 billion in revenues in 2019, greater than the GDP of four of the G20 nations. By comparison, Big Tech’s earnings would make it the #18 largest country by GDP, ahead of Saudi Arabia and just behind the Netherlands.

Big Tech earns billions by capitalizing on their platforms and growing user databases. Through increased growth and adoption of software, cloud computing, and ad proliferation, those billions should continue to increase.

As technology use has increased in 2020, and is only forecast to continue growing, how much more will Big Tech be able to earn in the future?

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Ranked: America’s Best Places to Work in 2024

Glassdoor’s annual list is determined by an algorithm that converts reviews to ratings—here are America’s 15 best places to work since 2020.

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A cropped chart with Glassdoor's top 15 ranking of America's Best Places to Work since 2020.

Which Companies Are Considered America’s Best Places to Work?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Research is divided on when is the best time to look for a new job, but it’s undeniable that a new year tends to hasten psychological effects: new beginnings, fresh clarity, and a renewed purpose. So for those on the lookout, it’s also useful to know which companies are the best places to work in the country—as rated by their employees.

Based on data gathered by recruiting website Glassdoor, here are America’s top 15 best places to work in 2024.

Glassdoor’s results are determined by their ‘proprietary algorithm’ which converts workplace reviews (rating companies on nine attributes like compensation, benefits, culture, etc.) from current and former employees, into a ranking. To read their full methodology, visit their website.

Ranked: America’s Best Places to Work in 2024

Based in Boston, Massachusetts, consulting firm Bain & Company is the best place to work in 2024 according to their employees on Glassdoor. The company’s page specifies what makes them so good: benefits, reliable teammates, growth opportunities, and crucially, strong leadership.

Here’s America’s top 15 best places to work in in 2024.

Rank Best Places to Work (2024)
1Bain & Company
2NVIDIA
3ServiceNow
4MathWorks
5Procore Technologies
6In-N-Out Burger
7VMware
8Deltek
92020 Companies
10Fidelity Investments
11Crew Carwash
12Keller Williams
13Delta Air Lines
14Raymond James Financial
15Adobe

Chipmaker Nvidia, whose stock has been on a tear in the last year, ranks second. Reviews cite work flexibility, workplace culture, and of course, focused leadership. In fact, Jensen Huang was recently rated America’s most popular CEO by professional social networking site Blind.

Three mid-sized tech companies, ServiceNow (cloud computing), MathWorks (mathematical computing software), and Procore Technologies (construction management software), round out the top five best workplaces in America.

Ranked in sixth is a break from the norm so far: beloved fast food place, In-N-Out Burger.

Missing from 2024’s list is Google which has dropped to 26th from eigth place in 2023. By doing so: no Big Tech company features in the top 15 best places to work for the first time in five years.

Rank 2020202120222023
1HubSpotBain & CoNVIDIAGainsight
2Bain & CoNVIDIAHubSpotBox
3DocuSignIn-N-Out BurgerBain & CoBain & Co
4In-N-Out BurgerHubSpoteXp RealtyMcKinsey
5Sammons Financial
Group
McKinseyBoxNVIDIA
6Lawrence Livermore
National Lab
GoogleBCGMathWorks
7Intuitive SurgicalDelta Air LinesGoogleBCG
8UKGLululemonVeterans United
Home Loans
Google
9VIPKidMicrosoftLululemonServiceNow
10Southwest AirlinesH E B SalesforceIn-N-Out Burger
11GoogleMetaRoyal Caribbean
Group
HubSpot
12LinkedInBCGNASA Jet
Propulsion
Slalom
13BCGLinkedInFive9Microsoft
14Trader Joe'sStrykerTwilioAdobe
15CoverMyMedsDocuSign
Johns Hopkins
Applied Physics
CrowdStrike

In fact, Big Tech does surprisingly poorly on these rankings despite the record profit and revenue they pull in every year.

Tech & Consulting Losing Sheen

A chart showing Glassdoor's rankings of major tech and consulting companies on their Best Places to Work list since 2019.

Apple for example has never been ranked higher than 31—which they achieved back in 2021.

Microsoft and Meta have done better in the past, but together with Google have slid down Glassdoor’s rankings rapidly, in conjunction with the recurring mass layoffs they’ve executed in the last two years.

And while Bain & Co head this year’s list, other major players in the same space—Boston Consulting Group and McKinsey & Company—are now at their worst ranks since 2019.

Smaller consulting firms have been struggling in the last year or so, as higher interest rates have hit everything from technology companies, to banks, to real estate conglomerates—all usual clients for consulting companies.

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