Alphabet, the parent company of Google, and Microsoft have announced their quarterly earnings. Both companies have shown an increase in revenue compared to the same period last year.
Microsoft, which considers the January-March period as its third quarter in its fiscal calendar, announced its financial results.
Accordingly, the company's revenue in the January-March period increased by 7% compared to the same period last year, reaching $52.9 billion. Microsoft had earned $49.4 billion in revenue in the January-March period of 2022.
The company's net profit also increased by 9% during the same period, reaching $18.3 billion. The company's net profit was $16.7 billion in the same period last year.
Microsoft's earnings per share also increased from $2.22 to $2.45 during this period.
ALPHABET ALSO SHOWS AN INCREASE
Alphabet, the parent company of Google, also announced its financial results for the first quarter of 2023.
Accordingly, Alphabet's revenue for the first quarter of the year increased by 3% compared to the same period last year, reaching $69.8 billion. The company had earned $68 billion in revenue in the first quarter of 2022.
The company's net profit in the first quarter decreased by 8% compared to the same period last year, reaching $15.1 billion. Alphabet had earned a net profit of $16.4 billion in the same period last year.
The company's earnings per share, which was $1.23 in the January-March period of last year, decreased to $1.17 in the same period this year.