Big Tech disruptors have their eyes on healthcare but have reported positive financial results driven by their core business models in the fourth quarter of 2021.
An increase in digital advertising on Google's searches, video and internet platforms helped push sales 27 percent higher year over year, and its cloud sales increased 45 percent to $5.54 billion in the period. The company logged sales of $72.23 billion and profit of $19.91 billion from October to December 2021.
Apple
In its fourth quarter, Apple saw a revenue record of $83.4 billion, up 29 percent year over year. Apple CFO Luca Maestri said in the news release that "sales performance, unmatched customer loyalty, and strength of our ecosystem" helped push the company to record numbers. While sales were up, the company underperformed according to Wall Street's expectations because of supply chain constraints.
Amazon
Amazon saw a 9 percent increase in sales to $137.4 billion in the fourth quarter, compared with $125.6 billion in the fourth quarter of 2020. This sales increase was the first single-digit growth figure since 2001. Amazon Web Services announced major partnerships with companies like Best Buy, Meta and Pfizer, helping to drive profit. Net income also increased to $14.3 billion in the fourth quarter.