Apple, Google and Microsoft report massive quarterly earnings

Apple, Google and Microsoft report massive quarterly earnings

Apple made the biggest splash, recording the biggest Q2 earnings in the company’s entire 45-year history. Which is no mean feat for a company that’s more valuable than some countries’ entire GDP. Google parent Alphabet Inc’s quarterly revenue and profit surged to record highs, powered by a rise in advertising spending as more consumers shopped online.

This story was first published at thebit.nz,” with a link to the article page at thebit.nz. It’s that time of year again, when super-rich tech businesses report precisely how much wealthier they’ve grown in the previous three months. Apple, Google, and Microsoft have all profited from worldwide lockdowns and the end of them due to the magical mix of creating software to enable remote working and products that can be purchased in brick-and-mortar stores.

In all, Apple made US$21.7 billion profit between April and June – a rise of 93 per cent year on year. Total revenue was US$81.4 billion, mainly led by iPhone 12 sales which grew 50 per cent on this time a year ago. But services – think Apple Music, Apple Arcade, Apple News and many other nouns with the word “Apple” in front of them – grew 33 per cent to hit US$17.5 billion too. But it wasn’t all good news, with Apple executives taking time out from browsing sports cars and property to warn that the end of the year isn’t likely to be as impressive thanks to the global chip shortage finally catching up with the company.

“We expect supply constraints during the September quarter to be greater than what we experienced during the June quarter,” the company’s chief financial officer Luca Maestri told investors. “The constraints will primarily impact iPhone and iPad.” Three tech companies that have amassed unparalleled influence while reshaping the way we live released strong earnings results. Three tech companies that have amassed unparalleled influence while reshaping the way we live released strong earnings results.

Boasting almost as impressive figures for the quarter was Alphabet, the somewhat obscure parent company of the omnipotent Google. The business recorded revenue of US$61.8 billion, up 62 per cent on this time last year. Profit was even closer to Apple, with the company recording a grand total of US$18.5 billion, double what it posted a year ago.

Anybody who knows how Google makes its money will be unsurprised to hear that the majority of this came from search and advertising, though Google Cloud and ‘Other Bets’ also increased their take too. Last, but certainly not least given the sheer quantity of money involved, was Microsoft. The company posted revenues of US$46.2 billion, up 21 per cent year-on-year. Impressively, profits rose a massive 47 per cent to hit US$16.5 billion, too. Remote working has helped Microsoft reach strong figures.

Microsoft’s strong numbers were driven by software that helps remote work: Intelligent Cloud jumped 30 per cent from where it was a year ago, while business apps (Office, LinkedIn and the like) grew by 25 per cent. While ‘rich companies get richer’ may not be the most surprising of headlines, it is remarkable that all three companies – dinosaurs in tech terms with a combined age of 114 – show no signs of ‘doing a Yahoo’ after so many years at the top.

The News Highlights

  • Apple, Google and Microsoft report massive quarterly earnings
  • Check the latest update on Security news
  • .

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
iPhone Poppy Playtime Chapter 3 release date
iPhone Poppy Playtime Chapter 3 release date
The factory’s toys have come to life and are aggressively striving to hurt other people. Additional VHS tapes were supplied for replay throughout the ...
Apple Car may not have windows, according to Apple's strangest rumor of the year
Apple Car may not have windows, according to Apple’s strangest rumor of the year
What probably caught people’s eye, though, was the accompanying graphic — a concept image of an Apple Car that actually dates back to a December 2020 post on ...
The OnePlus Nord 2T is now available worldwide, along with the Nord CE 2 Lite
The OnePlus Nord 2T is now available worldwide, along with the Nord CE 2 Lite
Surprise surprise, it’s a budget OnePlus with a new look. The Nord 2T has a clean and modern-looking design with round corners and smooth finishes. The phone ...
AirPods are compatible with Android
AirPods are compatible with Android
This is a bit different from how pairing works on an iPhone or iPad, where you simply open your AirPods case and tap connect. On an Android device, you’ll ...
The First RISC-V Laptop Might Be Here Sooner Than You Think
The First RISC-V Laptop Might Be Here Sooner Than You Think
“The big question everybody is asking themselves… we will see the first RISC-V laptop announced this year,” he said. “There’s a mystery laptop pictured on ...
US Existing Home Sales Fall for Third Straight Month;  record house prices
US Existing Home Sales Fall for Third Straight Month; record house prices
Economists polled by Reuters had forecast sales declining to a rate of 5.65 million units. Sales rose in the Northeast and Midwest, but fell in the South and ...
Gold shine fades as dollar rates rebound, rate hike fears loom
Gold shine fades as dollar rates rebound, rate hike fears loom
Federal Reserve Chair Jerome Powell on Tuesday pledged that the U.S. central bank would ratchet up interest rates as high as needed to kill a surge in ...
Android 13 Photo Picker is now available on previous Android versions thanks to a recent Google Play system update
Android 13 Photo Picker is now available on previous Android versions thanks to a recent Google Play system update
Google’s official documentation for Photo Picker mentions that the feature will be rolling out to devices running Andriod 12 and Android 11 via a Google Play ...
Apple responds to Final Cut Pro community letter with new action plans
Apple responds to Final Cut Pro community letter with new action plans
The letter from Apple begins by addressing the authors of the original letter and thanking them for their feedback. The Cupertino company notes that a wealth ...
As base metals end week full of fear, aluminum rises with low supply
As base metals end week full of fear, aluminum rises with low supply
While metals markets were calmer Friday, prices on the London Metal Exchange have endured a dismal few days on fears of rapid monetary tightening as well as ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo