Microsoft, Alphabet see income, revenue rise in Q1

By Ovunc Kutlu

ANKARA (AA) - Microsoft and Google's parent, Alphabet, saw income and revenue increase in the first quarter, according to financial results.

Microsoft's net income rose to $15.4 billion in the January-March period, jumping 43.9% from $10.7 billion during the same period last year.

Total revenue increased 19.1% to $41.7 billion, from $35 billion.

"Over a year into the pandemic, digital adoption curves aren’t slowing down. They’re accelerating, and it’s just the beginning," Microsoft’s CEO Satya Nadella said in a statement on Tuesday. "We are building the cloud for the next decade, expanding our addressable market and innovating across every layer of the tech stack to help our customers be resilient and transform."

Amy Hood, executive vice president and chief financial officer of Microsoft, noted that The Microsoft Cloud generated $17.7 billion in commercial revenue, up 33% year-over-year.

Alphabet also said its cloud service, Google Cloud, had revenues of $4 billion.

The company's total revenue increased 34.5% to $55.3 billion from $41.1 billion.

Net income soared 163% to $17.9 billion from $6.8 billion during that period.

"Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained," Sundar Pichai, CEO of Google and Alphabet, said in a statement.

Ruth Porat, CFO of Google and Alphabet, said $55.3 billion in revenue "reflect elevated consumer activity online and broad based growth in advertiser revenue."