AT&T, Microsoft, Verizon, More Tech, Telco Companies Make Latest Fortune 500
Apple is the most profitable company on the 2021 list.
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With Apple customers globally working and learning from home, iPad and Macintosh computer sales skyrocketed to their highest ever levels. Fiscal-year revenue hit an all-time record of $275 billion. That helped Apple’s stock price soar. It gained 80.7% in 2020. Its market value is a staggering $2 trillion.
Google’s parent company, Alphabet, faced major challenges in 2020. However, it ended the year with record fourth-quarter sales, after its ad business rebounded from a COVID-19-related lull. It wrapped 2020 with $182.5 billion in revenue, up 13% year over year, and more than $40 billion in profit. Its market value is nearly $1.4 trillion.
After a tumultuous 2020, AT&T reported $172 billion in annual revenue and a $5.2 billion loss. Its market value is nearly $216 billion. Needing more money to fund its costly expansion into 5G wireless, AT&T sold 30% of DirecTV to private equity firm TPG, raising $8 billion. And last month, the company announced its plans to spin off its WarnerMedia assets and merge them with Discovery, representing an almost complete withdrawal from the content business. The divesture could give channel partners a bigger seat at the table, as AT&T focuses on broadband.
Microsoft reported $143 billion in annual revenue and $44.3 billion in profit. Its market value exceeds $1.7 trillion.
Microsoft’s Azure cloud service, part of the cloud business that increased revenue 34% in the calendar fourth quarter of 2020, trails only Amazon. In addition, Microsoft saw substantial growth during the pandemic in Teams and the number of seats for voice through either a Microsoft Teams Calling plan or Direct Routing solutions from third-party providers. Microsoft partners with cloud service providers and more.
Verizon reported $128.3 billion in annual revenue and $18 billion in profit. Its market value is $240 billion. Spending $18 billion in 2020, Verizon doubled the number of cities with its superfast 5G technology to over 60. In addition, it added another slower layer of 5G that provided nationwide coverage. The telecommunications giant works with agents, VARs and SIs.
Comcast reported $103.5 billion in annual revenue and $10.5 billion in profit. Its market value is nearly $248 billion.
The pandemic was a mixed bag for the nation’s largest cable TV provider. More customers than ever cut the cord and dropped Comcast’s Xfinity TV package. But 2 million signed up for new internet service, and many more upgraded their speeds (and monthly bills). Moreover, Comcast’s three-year-old wireless phone service added 774,000 customers, for a total of almost 3 million. The company works with agents, VARs and SIs, via Comcast Business.
Dell Technologies reported $94.2 billion in annual revenue and $3.2 billion in profit. Its market value is $67 billion, adding to the tech giant’s slow-and-steady rise since going public three years ago. In addition, Dell plans to generate up to $9.7 billion by offloading VMware later this year. Dell is active in the channel with VARs and SIs.
The social media giant ended 2020 with nearly $86 billion in revenue, up 22% year over year, and $29 billion in profit, up nearly 58%. Its market value exceeds $838 billion. However, it faced major backlash for lax handling of hate on its service, including from former President Trump, whom the service eventually barred after the U.S. Capitol riot.
Intel reported $77.8 billion in annual revenue and $21 billion in profit. Its market value is $260 billion. Last year was tough for Intel, but earlier this year former VMware CEO Pat Gelsinger became Intel’s new top boss. Gelsinger previously worked at the chipmaker for 30 years. Now, investors are hoping he’ll be able to pull off a turnaround. Intel works with VARs and SIs.
IBM reported $73.6 billion in annual revenue and $5.6 billion in profit. Its market value is $119 billion. Its big news in 2020 was the promotion of 30-year company executive Arvind Krishna to the CEO job, succeeding Ginni Rometty. In October 2020, he announced plans to spin off the business that manages IT infrastructure for other companies. IBM’s stock rose on the news. IBM works with cloud service providers, VARs and SIs.
HP reported $56.6 billion in annual revenue and nearly $3 billion in profit. Its market value is $39.5 billion. Investors have been pleased with HP reporting strong sales of PCs and printers, driven in part by the rise of remote work. HP works with resellers.
Cisco reported $49.3 billion in annual revenue and $11.2 billion in profit. Its market value is $218 billion. In December, Cisco said it was buying communications software firm IMImobile for $730 million in a bid to bolster its WebEx videoconferencing and contact center business. A month later, Cisco agreed to acquire optical communications company Acacia Communications for $4.5 billion to boost its networking tech. Cisco works with MSPs, VARs and SIs.
Oracle reported $39 billion in annual revenue and $10.1 billion in profit. Its market value is $202 billion. Sales dropped 1% year over year due in part to Oracle’s cloud unit, which is growing far more slowly than those of rivals Amazon and Microsoft. In addition, the U.S. Supreme Court recently sided with Google parent Alphabet over Oracle in a major copyright infringement case involving the use of Java software code. Oracle works with MSPs, VARs and SIs.
Hewlett Packard Enterprise (HPE) reported $27 billion in annual revenue and a $322 million loss. Its market value exceeds $20 billion. Specializing in business information technology, the company offers cloud and infrastructure services to provide data storage, security and network connectivity to its customers. HPE works with VARs and SIs.
Salesforce reported $21.2 billion in annual revenue and $4 billion in profit. Its market value is $195 billion. In December 2020, Salesforce announced its planned acquisition of collaboration software maker Slack. The $27.7 billion deal is expected to close in summer 2021. Salesforce works with MSPs.
Charter Communications reported $48 billion in annual revenue and $3.2 billion in profit. Its market value is nearly $129 billion. It added a record 2.2 million new internet customers in its most recent fiscal year. However, the number of video subscribers barely budged amid the continuing cord-cutting trend. Charter, through its Spectrum brand, works with master agents and agents.
Broadcom reported $23.8 billion in annual revenue and $3 billion in profit. Its market value is $189 billion. In 2020, the company signed two deals with Apple to source parts for future wireless devices. That aims to keep Broadcom’s RF division, which makes filters that help improve signals in cellphones, afloat despite pressure from competitors like Qualcomm.
Micron Technology posted $21.4 billion in annual revenue and $2.7 billion in profit. Its market value exceeds $98 billion. The computer technology company often partners with other tech power players like Intel to create data storage products such as SSDs and flash drives.
Lumen Technologies posted $20.7 billion in annual revenue and a $1.23 billion loss. Its market value is $14.6 billion. The company rebranded from CenturyLink last year. It generates more than 70% of its revenue from business services. Lumen partners with agents.
DXC Technology reported $19.5 billion in annual revenue and a $5.37 billion loss. Its market value is nearly $8 billion. One of the younger companies in the Fortune 500, the information technology and consulting company has only been in existence since 2017 when it spun off from HP.
CDW reported $18.5 billion in annual revenue and $788 million in profit. Its market value is $23 billion. With the pandemic forcing companies to transition to remote work in 2020, therefore driving demand for the company’s WFH tech solutions, CDW reported a 13.3% year-over-year climb in profit for 2020. It works with resellers.
Western Digital reported $16.7 billion in annual revenue and a $250 million loss. Its market value is $20 billion. In May, the company announced the launch of SanDisk Professional, a brand aimed at content creators. It works with MSPs, VARs, SIs and solution providers.
Nvidia reported $16.6 billion in annual revenue and $4.3 billion in profit. Its market value is $331 billion. The company benefited from increased gaming demand during the pandemic. Furthermore, cryptocurrency miners have been buying Nvidia’s cards for their mining setups. Nvidia works with VARs and SIs.