America’s biggest companies are flourishing during the pandemic and putting thousands of people out of workAs the coronavirus pandemic devastated small businesses and plunged millions of Americans into poverty this summer and fall, executives at some of the country’s largest corporations sounded surprisingly upbeat. Revenue change from 2019 Nvidia Nine-month change: +46% Amazon Nine-month change: +35% Netflix Nine-month change: +25% Facebook Nine-month change: +17% Microsoft Nine-month change: +13% Alphabet Nine-month change: +9%Shoppers began splurging on cleaning supplies, hobbies, home cooking and home improvements, driving record growth at big-box stores including Home Depot and Walmart. Revenue change from 2019 Home Depot Nine-month change: +9% Walmart Nine-month change: +6% McDonald's Nine-month change: -13%In many industries, the giants devoured market share ceded by small businesses, who lacked the resources to keep stores open during unpredictable swings in customer demand. Revenue change from 2019 Nike Nine-month change: -11% Coca-Cola Nine-month change: -13%The Salesforce layoffs punctuated one of the software giant’s fastest periods of growth and followed frequent pledges by its chief executive to assist with coronavirus relief. There are not going to be any independents.”Year-over-year revenue change for the largest U.S. companies Ranked from biggest revenue increase to biggest loss.

Source: Washington Post December 16, 2020 15:44 UTC