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Due to factors such as the accelerated development of digitalization under the epidemic, the results announced by American technology companies Alphabet and Microsoft on the 26th are still strong. China Wholesale Manufacturer of bronze fittings
On the 26th local time, Alphabet, the parent company of Google, announced its first-quarter financial report, in which revenue and earnings per share were lower than Wall Street analysts had expected. But the cloud business had a strong quarter and beat expectations.
According to the financial report, Alphabet’s revenue in the first quarter increased by 23% year-on-year to US$68.01 billion, a slowdown from the 34% growth rate in the same period last year, and the market expected it to be US$68.11 billion. Reports said the 23% increase was the tech giant’s slowest since the end of 2020. Alphabet had a period of big sales growth in 2020, as businesses flooded the advertising market, hoping to win over a customer base that had been confined to their homes early in the pandemic. Alphabet’s 2021 sales are also up 41%. China Wholesale Manufacturer of bronze fittings
The “Wall Street Journal” commented that Alphabet’s revenue was lower than expected, reflecting the slowdown in European advertising sales and the sluggish performance of its YouTube video business. In addition, the company’s revenue was also affected by the suspension of business activities in Russia and the wider unrest caused by the conflict between Russia and Ukraine.
Meanwhile, Alphabet’s first-quarter earnings per share were $24.62, compared with the consensus estimate of $25.91. The company’s advertising revenue for the quarter was $54.66 billion, up from $44.68 billion a year earlier. Its video site YouTube advertising revenue was $6.87 billion, missing market expectations of $7.51 billion. China Wholesale Manufacturer of bronze fittings
In the first quarter, Google’s cloud business performed outstandingly, with cloud revenue of $5.82 billion, higher than market expectations of $5.76 billion, a year-on-year increase of 44%. Alphabet CEO Sundar Pichai said: “The search and cloud businesses grew strongly in the first quarter, both of which are helping individuals and businesses as digital transformation continues.”
At the same time, Microsoft also released its latest quarterly earnings report. The financial report shows that Microsoft’s revenue and profit both increased in the first quarter. Reasons include the continued rise in demand for its cloud services and software as the pandemic triggers a shift to remote working.
In the quarter ended March, Microsoft’s revenue rose 18 percent year-on-year to $49.4 billion, while net profit rose 8 percent to $16.7 billion. Among them, cloud services have grown significantly. Continued customer commitment to the cloud platform and strong sales execution drove a 28% increase in commercial bookings, and Microsoft cloud revenue reached $23.4 billion, up 32% year over year, Microsoft said. China Wholesale Manufacturer of bronze fittings
Some analysts pointed out that under the catalysis of the epidemic, the world has entered a stage of accelerated digital development, and technology giants have new opportunities. For Internet giants, the physical isolation brought about by the epidemic will lead to the overall benefit of the online economy. At the same time, home office and study have brought about an explosive growth in the sales of electronic products such as computers. The epidemic has accelerated the digitization of life scenarios, people’s lives have accelerated online migration, new scenarios are constantly being formed, such as the explosive growth of teleconferencing and online education, and the time users spend on the Internet continues to increase. China Wholesale Manufacturer of bronze fittings
