- February 6, 2022
- Posted by: Bastion team
- Category: World News
Big Tech headed into 2021 with more than nine months of pandemic experience, but were still surprised by the extent of supply-chain disruptions, labor shortages and rising prices.
Despite these challenges, their financial performance has been staggering: Google parent Alphabet Inc.
Facebook parent Meta Platforms Inc.
and Microsoft Corp.
individually and collectively put up record profit and revenue all around in 2021.
Collectively, the companies topped $1.4 trillion in revenue — which would rank 13th in gross domestic product as a nation, just behind Brazil and ahead of Australia, according to World Bank figures — and they generated $320 billion in profit based on Generally Accepted Accounting Principles (GAAP).
For some context on that profit figure: Apple, the most valuable company in U.S. history thanks to a series of amazing profits, took 37 years as a public company — 1980 through 2017 — to collect that much profit in total. Yet the iPhone manufacturer contributed the largest portion of 2021’s technology sector profit, topping $100 billion for the first time, a figure that itself eclipses the total profit Apple collected in its first three decades on the market.
Make no mistake, this is…