How Do Big Tech Giants Make Their Billions?

Selling hardware, selling ads, selling entertainment. And the first category is shrinking in value. How many bloody ads do people need?

Does net income include or exclude operational expenses (like engineeer salary)? If it excludes it, it’s pretty crazy that the net income is almost 25-30% their total revenue.

It looks like Apple generated more revenue from wearables (AirPods and Apple Watch) than what it generated from selling Macs.