COVID 19 is surely one of the worst things that have happened to mankind, it revealed many faults in our systems, our lack of preparedness, and how nature is not something to meddle with.
Financially speaking, some industries were hit really hard and are still coping, some industries are growing like never before. Companies growing during lockdown is something no one expected but here we are, writing articles about it.
Companies showed tremendous growth in Q2 and Q3, companies like Netflix, Amazon, Tencent, Zoom, Microsoft, Tesla, etc. had more growth than they expected.
The stock market also rallied and currently is in a state which is quite risky and is a bubble according to some analysts. On the other hand gyms, fine dining, retail stores, small businesses lost a lot of money and many were forced to shut down.
Local governments and MNCs are offering financial aid to support the local businesses to keep the economy from dying.
Here, we have a list of companies growing in COVID –
Amazon became a life saver for many who couldn’t gather essentials, already being the largest company ever, Amazon grew even further during lockdown. It added $401.1 bn to its Market capital.
Amazon also doubled their Q2 earning from $2.63 billion in 2019 to $5.24 billion in 2020. It also reported that their costs to keep the warehouses running also went up by $4 bn.
E-commerce is booming and Amazon is definitely taking a big chunk out of it, this company is growing like a teen hitting puberty. Overall, seems like a pretty good deal.
Teams communication app became a go to app for many companies, who were forced to work remotely, which for the record is pretty cool. Now, we know which could have been an email for real.
Microsoft added $269.9 bn to its Market capital, making it the second largest company growing in pandemic. Teams helped a lot of companies in growing and maintaining their business.
Microsoft Azure (cloud computing platform) also became a necessary part of many companies, up by 62% now. Microsoft also reported $36.9 bn in revenue in Q2, operating income also went up by 39%.
Tencent is a Chinese multinational technology conglomerate holding company, also it got pretty famous for one of it’s mobile games ‘PUBG’.
Online gaming revenue increased by a whooping 31% in Q1 and kept going up in the following quarters. Tencent also added $93 bn to its Market capital. Hence becoming one of the top 5 companies growing during lockdown.
How did it grow? Tencent also owns WeChat, a social media app which has now around 1.2 bn users, apart from this its video streaming platform users grew to 112m. Total revenues increased 26% to RMB 108.1 billion (USD 15 billion).
Netflix gave us Tiger King.
Other points seem irrelevant, right? Anyway, it added twice as many subscribers as analysts predicted, bad maths?, probably yes.
Apart from gaming and online cocktail parties, web series and movies were also keeping people sane. Netflix surely helped a lot in entertaining us. It added $55.1 bn to its market capital making it the biggest hit of the entertainment industry.
Revenue grew to $ 5.7 bn in Q1, however it did fall in Q3 as lockdown is lifted and people are getting out.
This makes Netflix in terms of market capital, one of the top 15 growing companies during lockdown.
The famous Video Conferencing app has made it to the list as well. Apart from connecting companies, it helped families, friends to organise online get-togethers. Many schools used it and are still using it for online classes. It captured $47.9 bn in Market capital and revenue rose by 169%.
Zoom is in top 15 companies growing during the pandemic.