Since the onset of the pandemic, tech giants have ridden the wave of digital transformation to massive financial gains. While Amazon and Alibaba were expected to dominate, it’s Meta and Alphabet that led the charge.
New data from Stocklytics.com reveals that both Meta and Alphabet saw their revenues jump by 91% from 2020 to 2024—outgrowing other major online players including Apple, Amazon, Tencent, and Netflix. Their performance highlights the strength of digital advertising and online services in the post-COVID economy.
Amazon Leads in Absolute Revenue Gains, While Meta and Alphabet Dominate Percentage Growth
In the world of online giants, revenue, profit, and user numbers are measured in billions. And while all these companies, including global powerhouses like Apple, Meta, Google, Netflix, and PayPal, have seen impressive growth over the past five years, two names stand out: Meta and Google’s parent company, Alphabet.
Meta’s journey over the past decade has been dramatic, yet the company emerged as one of the most resilient players in the tech landscape. Privacy concerns, regulatory scrutiny, and scandals like the 2016 US election fake news and the Cambridge Analytica scandal brought a massive public backlash, forcing Meta to adjust its strategies. In response, the company focused more on Instagram and WhatsApp, invested a lot of money into AI to fight misinformation and hate speech, and prioritized user privacy.
The real test came three years later, with the 2022 stock crash whipping hundreds of billions in Meta’s market value and the company reporting its first-ever revenue drop, leading to severe cost-cutting measures and a massive wave of layoffs. Yet, Meta made a comeback again. By 2024, the company reported a record $164.5 billion in revenue, 22% more than a year before and a massive 91% increase over five years.
Google’s parent company, Alphabet, was the only other internet giant that saw bigger growth than that, with its revenue surging by 91.7% in this period. No other online company was even close in terms of percentage growth. For instance, Apple grew by 42,4% in five years, Netflix by 56%, PayPal by 48%, and Alibaba and Tencent by roughly 20%. The ecommerce giant Amazon was the closest to Meta and Alphabet in percentage growth, with a five-year revenue increase of 65.2%.
Still, Jeff Bezos’ company leads in absolute revenue gains. Statistics show that Amazon’s revenue soared by a staggering $251 billion since 2020, 50% more than Alphabet’s, twice as much as Apple’s, and three times more than Meta’s.
Netflix Leads in Stock Growth Despite Revenue Lag
While Meta and Alphabet led in revenue growth over the past five years, Netflix reported the highest stock value gain, with a 281% increase since January 2020. This proves that stock performance doesn’t always directly correlate with revenue growth, with investor opinion, business decisions, and outside events also playing big roles.
Meta follows Netflix with an impressive 228% increase, while Apple (170%) and Alphabet (140%) round out the top performers.
