MICHAEL LIEDTKE, MATT O'BRIEN and JOSEPH PISANI
AP Business Writers
Big Tech companies reported mixed quarterly earnings on Thursday, a day after their top executives faced a tough congressional grilling over their market power and alleged monopolistic practices.
The staggering economic fallout caused by the coronavirus pandemic was reflected in reports from Amazon, Facebook, and Google's corporate parent, Alphabet. Apple, the most valuable company of them all, is set to disclose its numbers for the April-June quarter later on Thursday.
Alphabet, Google's holding company, reported its first-ever drop in quarterly revenue compared to the prior year. Although it was only a 2% decline, it was a telling sign of a downturn in the digital ad market while also serving as a reminder that the