Visualizing Big Tech Revenue
In 2023, the members of Big Tech; Apple, Amazon, Alphabet, Meta, Microsoft and Nvidia, all lived up their namesake. Once a group of five, these now six tech giants, all posted some of their best earnings to date. Here we will take a look and how they did it.
The Big Tech Elders: Apple & Microsoft
As the oldest of all the Big Tech companies, we begin with Apple and Microsoft. Known primarily for their contributions through hardware and software; today these two companies sit atop the list of most valuable companies in the world occupying the 1st and 2nd spot, ending December with a combined market cap of over $4 Trillion.
| Tech Elders | Revenue | Net Income | Profit Margin |
| Microsoft | $211.9B | $97B | 25% |
| Apple | $383.3B | $72.4B | 34% |
Apple made over $385 Billion in 2023 revenue, making a profit of $97 Billion. The iPhone led way, a trend that hasn’t changed since becoming Apple’s best performing product in 2008. In terms of profit, this is the best of the bunch, but for profit margin, they are only above Amazon and Nvidia.
Microsoft exceeded $211 Billion in 2023 revenue, good a profit of $72 Billion. Their cloud business continues to grow as they continue to be Amazon’s biggest rival in the sector. Their Intelligent Cloud sector was good for almost $97 Billion worth of revenue in 2023.
Big Tech’s Internet Leaders: Amazon, Alphabet, and Meta
Big Tech revenue wouldn’t be what we see today without the emergence of the internet in the late 1990’s but none have benefitted more than these three dot com darlings. All founded within a decade of each other; Amazon, Alphabet (Google), Meta (Facebook).
| Dot Coms | Revenue | Net Income | Profit Margin |
| Amazon | $574.8B | $30.43B | 5% |
| Alphabet | $307.4B | $73.80B | 24% |
| Meta | $133.9B | $39.10B | 29% |
Amazon led these big tech titans in 2023 revenue, posting and mind boggling $574 Billion in revenue across all their businesses. The e-commerce giant is famously known for aggressive reinvestment, and commitment to low prices. These two characteristics can translate to low margins in e-commerce likely influencing their 5% profit margin. AWS continues to be a big winner for them, as does their high-growth advertising division.
Alphabet (Google) brought in over $307 Billion in 2023 with a profit of almost $74 Billion, led largely by their different digital advertising channels. Their search advertising business continues to be their dominant driver, making up $175 Billion of their $237 Billion advertising business.
Meta (Facebook) made over $133 Billion, with a profit of just under $40 Billion. To date, Meta is the has the least diversified business model, with almost all of their income coming from digital advertising.
Big Tech’s Shiny New Engine: Nvidia
Nvidia’s 2023 revenue was just under $30 Billion, making a profit of $4 Billion. While this pales in comparison to the other Big Tech companies, their stock boomed massively in 2023 surpassing the $1 Trillion mark. As the AI Boom continues to increase demand on Nvidia solutions, 2024 could be a massive year.