This week, five of the world’s biggest tech companies – Microsoft, Apple, Amazon, Meta and Alphabet – reported their latest quarterly earnings. On the whole, the financials indicate that the tech sector, despite layoff rounds as recently as this week (with Zoom, Okta and Jack Dorsey’s Block announcing cuts), is in largely good health.
The relative strength of the tech sector, of course, has a rippling effect that impacts many other industries – chief among them being the digital advertising ecosystem, which relies on device makers like Apple and Google as well as walled garden ad ecosystems like Google, Meta and Amazon to operate.
In 2023, a Q1 tech slowdown, for example, hampered the financial success of many of the world’s largest advertising companies, including holdcos WPP and IPG.
Now, things appear to be looking up. Microsoft, Apple, Amazon, Meta and Alphabet all beat analysts’ estimates for the quarter. The Drum