Amazon CEO Jeff Bezos. Photo: Jason Redmond / AFP / Getty Images

Amazon's quarterly profit has topped $1 billion for the first time: "TECH ROARS: APPLE BEST QTR IN HISTORY OF BIZ," Drudge writes.

The big picture: "Three of the biggest tech companies reported record quarterly financial results ... as they extended their dominance over swaths of the global economy," The Wall Street Journal writes in its lead story:

  • "Apple’s revenue rose 13% to $88.29 billion, fueled by its move to increase smartphone prices ... The company, whose profits topped $20 billion for the first time, is also increasingly benefiting from its services business, including App Store sales and music and payments services."
  • "Google parent Alphabet recorded its 32nd consecutive quarter of revenue growth of 20% or more, continuing a dominant run as it handles more than 90% of internet searches and owns the world’s most influential video site."
  • "Amazon — long known for prioritizing growth over earnings — delivered a profit exceeding $1 billion for the first time as its revenue jumped 38% to $60.5 billion."

The debates ahead, per The Journal:

  • "As the tech giants expand their clout across a widening band of commerce, they have increasingly drawn scrutiny from lawmakers and consumers over a range of issues, from their dominance of certain markets, to how they use their vast troves of consumer data, to the impact their products have on society."
  • "The extraordinary runup in their share prices has helped fuel popular awareness of the companies’ power."

Go deeper

Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 19,451,097 — Total deaths: 722,835 — Total recoveries — 11,788,665Map.
  2. U.S.: Total confirmed cases as of 2. p.m. ET: 4,968,413 — Total deaths: 161,858 — Total recoveries: 1,623,870 — Total tests: 60,415,558Map.
  3. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective.
  4. Science: Indoor air is the next coronavirus frontline.
  5. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.
2 hours ago - World

What's next for Lebanon after the Beirut explosion

Photo: Houssam Shbaro/Anadolu Agency via Getty Images

Beirut residents are still clearing rubble from streets that appear war-torn, days after a blast that shocked the country and horrified the world.

Why it matters: The explosion is likely to accelerate a painful cycle Lebanon was already living through — discontent, economic distress, and emigration.

Wolf Blitzer marks 15 years in "The Situation Room"

Wolf Blitzer on the White House beat in 1993, along with NBC's Brian Williams, CBS' Rita Braver and ABC's Brit Hume. Photo: Paul J. Richards/AFP via Getty Images H

Aug. 8, 2005 — "The Situation Room's" debut on CNN wherein the host first said: "I'm Wolf Blitzer and you're in The Situation Room, where news and information from around the world arrive in one place simultaneously!"

The state of play: When the pandemic took off in the U.S. in March, Blitzer started working 7 days a week for 60+ days, until he took a Sunday off. Then he continued 7 days a week until he took a few days off.