Facebook, Amazon, Netflix, Google, Microsoft, and Apple reported strong earnings for the second quarter of 2021. Known by the acronym FANGMA, this group of companies represents some of the most important companies in Big Tech today.

Currently, the combined market cap of these six FANGMA stocks is approximately $7.7 trillion. Making up roughly 20% of the S&P 500 and 40% of the Nasdaq 100, these companies are responsible for a significant portion of market gains and economic growth over the past decade. Billions of people interact with their advanced technologies or popular consumer services each day—including you, most likely.

Facebook

Facebook beat analyst expectations for Q2, reporting earnings per share of $3.61 versus an expected $3.03. Revenue of $29.08 billion was also up from an expected $27.89 billion. Much of this growth was driven by Facebook ad revenue, which clocked in at $28.6 billion for Q2, up 56% from the same quarter in 2020 and its fastest ad growth since 2016.

Roughly 3.51 billion people now use one of Facebook’s apps each month, up 12% from the same time a year ago.

Amazon

Amazon beat earnings expectations but missed revenue estimates, due in part to tough year-over-year comparisons to operations during Covid-19 lockdowns. Amazon reported revenue of $113.08 billion for Q2, an increase of 27% year over year, but short of analysts’ estimates of $115.2 billion for the quarter. Earnings per share were $15.12 versus the $12.30 expected.

Amazon Web Services (AWS), which provides on demand cloud computing services, grew its revenue to $14.81 billion in Q2, an increase of 37% year over year and an improvement on 32% growth in Q1. This beat analysts’ estimated $14.20 billion.

Netflix

Netflix revenue of $7.34 billion for Q2 narrowly beat analyst expectations of $7.32 billion for the quarter. But the streaming giant missed its projected earnings of $3.16 per share, reporting just $2.97 instead.

Netflix’s paying subscriber growth is slowing, with the company adding 1.54 million users in Q2 for a total of 209 million paid memberships. However, in July Netflix announced that it would be expanding into online gaming. Netflix views video games as a new content category, similar to the company’s expansion into original films, animation, and unscripted TV. Initially, Netflix will focus on mobile games which will be included in Netflix subscriptions at no additional cost as a subscription-retention play.

Google

Google’s parent Alphabet beat analyst expectations for Q2. The company reported earnings per share of $27.26 versus an expected $19.34, and total revenue of $61.88 billion, beating the $56.16 billion expected.

Google Cloud revenue climbed 54% from $3 billion in Q2 2020 to $4.63 billion in Q2 2021. Google Cloud also narrowed its losses from $1.43 billion to just $591 million.

Total Google ad revenue increased to $50.44 billion, up 69% from the same time last year, which coincided with the onset of the pandemic. Most of the ad revenue came from retail.

Microsoft

Microsoft also beat analyst expectations for the quarter. Microsoft reported earnings per share of $2.17 (adjusted) versus an expected $1.92 and revenue of $46.15 billion versus $44.24 billion expected.

Microsoft’s Cloud Segment, which includes the Azure public cloud, Windows Server, SQL Server and GitHub, grew by 30% in the last year and generated $ 17.38 billion in revenue.

Apple

Apple likewise beat analyst expectations in the most recent quarter. The company reported earnings per share of $1.30 versus the expected $1.01 per share and revenue of $81.41 billion versus $73.30 billion expected by analysts.

Overall sales were up 36% year over year, with iPhone sales increasing nearly 50% on an annual basis to $39.57 billion. All of Apple’s major product lines grew by at least 12% on an annual basis.

With results like these, it’s easy to see why FANGMA stocks have driven so much market growth in recent years. And while FANGMA companies reported strong earnings in the past quarter, though the rest of the year may not see the same level of growth, there is little indication that the world’s appetite for the products and services offered by the FANGMA companies will let up anytime soon.

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