Microsoft and Alphabet recorded revenue growth in the second calendar quarter of 2022 | TechBuzz

- Advertisement -


American technology giants Microsoft and Alphabet announced financial results for the second calendar quarter of this year. Both companies did not meet analysts’ expectations, but their shares still rose, partly due to long-term optimism about the shares and additionally on the wings of the overall rise of the market after the US FED increased interest rates.

- Advertisement -

In its fourth fiscal quarter ended June 30, 2022, Microsoft announced that the company posted revenue growth of 12.4%. Revenues amounted to 51.9 billion dollars, while profit grew by 2% and amounted to 16.7 billion dollars. Market (un)opportunities, such as leaving the Russian market, but also the strengthening of the dollar against other currencies, had a bad impact on Microsoft’s balance sheet, so the company did not meet analysts’ expectations, which were $52.4 billion in revenue and a profit of $2.29 per share ( compared to the reported $2.23). If the stronger dollar is excluded from the results, Microsoft’s revenue growth would be 16% and earnings 8%.

Alphabet, Google’s umbrella company, generated $69.69 billion in revenue in the second quarter, a year-over-year increase of 13%. The company’s profit fell from $18.5 billion in Q2 2021 to $16 billion in the second quarter of this year. Analysts had expected Alphabet to post revenue of $69.9 billion and earnings of $1.28 per share, compared to the reported $1.23 per share. Reduced advertising spending contributed to lower-than-expected revenue, as 80% of Alphabet’s revenue is related to advertising. The stronger dollar had a negative impact on revenues in the amount of about 3%.

For both companies, cloud solutions had a significant impact on positive revenue growth. Microsoft shares ended trading on the New York Stock Exchange yesterday up 6%, while Alphabet shares rose 7%.

- Advertisement -

via: CNBC 1, 2

source: Microsoft, Google



Source link

- Advertisement -
Admin
Adminhttp://techbuzz.asia
I am admin of techbuzz.asia blog & I provide tech-related news. As a part of my hobby, I make content related to technology and gadgets reviews too. I love to be a content creator apart from it, I am a full-time employee in an MNC company and manage blogs systematically. You can mail me at [email protected]

More from author

Related posts

Advertisment

Latest posts

Struggling with smartphone PINs | TechBuzz

If your PIN on your smartphone is 1234 or 0000, then you have the honor of...

Shutting down your computer is taking too long? Check out the ways you can fix this problem on Windows 10 and Windows 11! ...

Shutting down a Windows computer seems simple at first glance, but it's actually a complex process that can cause certain problems in some situations.Windows...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!