24 October 2023
Microsoft and Alphabet, the parent company of Google, have released their financial results for the third quarter of the year. Both companies have exceeded expectations, reporting strong growth and record-breaking revenue.
Microsoft reported revenue of $45.3 billion for the quarter, representing a 22% increase compared to the same period last year. The company's net income also saw significant growth, reaching $20.5 billion, a 48% increase year-over-year.
The strong performance was driven by multiple business segments, including Azure cloud services, which saw a revenue increase of 50%. Microsoft's productivity and business processes division, which includes Office and LinkedIn, also performed well, with a revenue increase of 20%.
Alphabet reported revenue of $65.1 billion for the quarter, marking a 41% increase compared to the same quarter last year. The company's net income also saw substantial growth, reaching $18.4 billion, a 69% increase year-over-year.
Google's advertising business, which accounts for the majority of Alphabet's revenue, performed strongly, with a 43% increase in revenue. The company's cloud services division, Google Cloud, also experienced significant growth, with a revenue increase of 53%.
Overall, Microsoft and Alphabet's Q3 results demonstrate their resilience and ability to thrive in a rapidly evolving tech landscape. Both companies continue to innovate and deliver value to their customers, driving strong financial performance.
Microsoft, Alphabet, Q3 results, expectations
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