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The company was profitable, reported less operational losses than expected and has already started repaying credits lines it drew down earlier this year to manage through the coronavirus pandemic.

Most economists, including those at the White House, have been expecting that the brutal numbers would turn around in the third quarter. Those expectations are being tempered.

The Federal Communications Commission declared on Thursday that Amazon may build its ambitious satellite internet system.

The move comes after the demotion of campaign manager Brad Parscale and polls showing the president trailing Biden.

Facebook has seen an increase in user engagement as a result of the coronavirus, but has also endured an ad boycott that may crimp revenue.

Facebook Chief Financial Officer David Wehner on Thursday said upcoming changes to Apple's iOS 14 could hurt the social network's ability to target ads to users.

"Keeping them out of school and keeping work closed is causing death also. Economic harm, but it's causing death for different reasons, but death. Probably more death," President Donald Trump said.

The company beat on both the top and bottom lines.

Gilead Sciences' sales fell 10% in the second quarter from a year earlier as the coronavirus pandemic weakened demand for some of its drugs, including some of its core hepatitis treatments.

Apple Chief Financial Officer Luca Maestri didn't expand on the topic, but Apple sometimes announces new iPhones in September and then sells them later.

The company declined to issue guidance for the second quarter in a row, but said on a call with analysts that it expects iPhone supply in the fall to be delayed for a few weeks.

Amazon's cloud unit faced slower growth than ever before in the second quarter, with some customers getting hit especially hard by the pandemic.

More than 150,000 reservations have been made for the upcoming two- or four-door SUV, far surpassing Ford's initial expectations, according to executives.

Atlassian is offering discounts to persuade customers to to make the transition to its cloud products.

Facebook said its third quarter ad revneue will be impacted by ad boycotts. But with a year-over-year ad revenue growth rate in the first three weeks of July in-line with the second quarter, the boycott doesn't seem to hurt much.

Dr. Elizabeth "Betsy" Nabel is leaving effective immediately after sitting on the company's board of directors for five years, Moderna said in a statement.

The shares will be distributed to shareholders at the close of business on August 24, and trading will begin on a split-adjusted basis on August 31.

Cain, a onetime presidential hopeful who was once considered by Trump for the Federal Reserve, is among the highest-profile public figures in the United States to have died from Covid-19.

As of Thursday's close, Apple, Amazon, Alphabet and Facebook were collectively worth $4.9 trillion. The companies will likely surpass $5.1 trillion as of Friday's open, taking into account Thursday's after-hours gains.

It's up from the company's fiscal second quarter of 2020, when the company reported a $192.8 billion cash pile.