Google parent Alphabet Inc reported a 22.2 percent rise in quarterly revenue, driven by a surge in advertising on mobiles and its popular YouTube video service.
Alphabet’s net income rose to $5.43 billion, or $7.73 per Class A and B share and Class C capital stock, in the first quarter ended March 31 from $4.21 billion, or $6.02 per share, a year earlier. [http://bit.ly/2qbMJGY ]
The company’s consolidated revenue rose to $24.75 billion from $20.26 billion.
Google is locked in a battle with social media giant Facebook Inc in the fast-growing mobile advertising market.
Microsoft Corp reported a 27.8 percent increase in quarterly profit, lifted by robust demand for its cloud computing services.
The company’s net income rose to $4.80 billion, or 61 cents per share, in the third quarter ended March 31, from $3.76 billion, or 47 cents per share, a year earlier.
Revenue on an adjusted basis climbed 6 percent to $23.56 billion. (http://bit.ly/2oQAzSJ)
Under Chief Executive Satya Nadella, who took the helm in 2014, Microsoft has sharpened its focus on the fast-growing cloud computing unit to counter a prolonged slowdown in the PC market, which has weighed on demand for its Windows software.
The company’s flagship cloud computing platform, Azure, competes with Amazon.com Inc’s Amazon Web Services, the market leader in cloud infrastructure.