When you wake up in the morning, maybe it takes you one whole minute to get up, do a few stretches, and fix your bed. One minute is a very short time, and it might seem like nothing much happens in just a minute. But you’ll be surprised by what one minute means for the world’s biggest tech giants.
Seven of the world’s ‘Big Tech’ companies — Facebook, Amazon, Apple, Tesla, Microsoft, Alphabet, and Netflix, sometimes referred together as FAATMAN — earn tens of thousands, if not hundreds of thousands, of dollars every minute.
This scale seems already quite difficult to wrap our heads around, and these numbers are only projected to grow bigger in the coming years. Let’s look at how much revenue these Big Tech companies make per minute.
Big Tech keeps getting bigger
Even the ongoing global health issue could not stop the growth of the FAATMAN companies, which collectively grew by $3.4 trillion last 2020.
The growth continues into 2021, as these seven companies record quarterly revenues in the tens of billions. To help put that into perspective, here’s how much the seven companies earn every minute in 2021, according to CNBC.
Amazon: $837,330.25 revenue per minute
Apple: $691,234.57 per minute
Alphabet: $426,805.56 per minute
Microsoft: $321,805.56 per minute
Facebook: $201,936.73 per minute
Tesla: $80,162.04 per minute
Netflix: $55,270.06 per minute
Leading the FAATMAN pack is Amazon, which recorded revenues of over $108.5 billion in the first quarter of 2021, equivalent to a whopping $837,330 per minute. Amazon’s revenues only went uphill during the pandemic as more and more people relied on shopping online.
With the continued success of iPhone 12 sales, which led to a year-on-year revenue increase of 54%, Apple scored an impressive $691,234 per minute for the first quarter. Apple is also currently the world’s biggest company in terms of market value, with a market cap of over $2.362 trillion.
Alphabet, the parent company of Google, recorded over $426,805 per minute, as more people surfing the web and going online during this pandemic. This impressive number is driven by the skyrocketing of advertising revenue from Google Search and Youtube, amongst other activities.
Microsoft earned $321,805 per minute, built upon the company’s successes in its various businesses, from Windows PCs and Xbox gaming to its cloud services.
Because of a surge in advertising revenue, Facebook’s reached $201,936 per minute – a 93% surge from the same period last year. The company’s earnings from advertising skyrocketed due to an increase in average price per ad and the total number of ads delivered.
As the market for electric cars continues to expand, Tesla experienced a profitable first quarter with revenues of $80,162.04 per minute and a company record of 184,000 cars delivered.
Despite subscriber growth being lower than expected for the beginning of the year, Netflix remains the world’s largest streaming service by subscriber count and total revenue, making $55,270.06 per minute for the first quarter.
These seven Big Tech companies are money machines, and they are only set to grow even bigger through the years. While 60 seconds seems like a very short amount of time for us normal folk, so much is being earned by these industry behemoths in just under one minute.