Analysts said factors like the amount of revenue coming from direct-response versus brand advertising, exposure to areas like travel and sheer size gave Facebook's ad business a leg up over Google's in the second quarter.
Facebook announced deals with Sony Music Group, Universal Music Group, Warner Music Group, Merlin, BMG, Kobalt and other independent music groups to launch music videos on its platform.
Analysts expect the coronavirus pandemic to keep boosting Apple's Mac and iPad units, following the company's blockbuster fiscal third quarter report, where it revealed revenue was up 11% year over year.
Facebook CEO Mark Zuckerberg on Thursday said there is no timetable for when employees will return to the company's offices amid a continuing surge in Covid-19 cases in the U.S.
Pompeo's comments come a day after the CEOs of tech giants Amazon, Apple, Facebook and Google testified before the House Judiciary subcommittee on antitrust.
Apple CEO Tim Cook said that services revenue set a new June quarter record in China. Chief Financial Officer Luca Maestri added that iPad also set a June quarter revenue record in Greater China.
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.
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.
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Business news related to the technology industry, including Apple, Amazon, Microsoft, Google, and Facebook, plus consumer electronics, start-ups, cryptocurrency, media, advertising, streaming, venture capital, antitrust and regulation.