Apple, Microsoft, Alphabet unveil record quarters
Apple shares fell despite record figures
Google parent Alphabet, Microsoft, and Apple all reported record quarterly earnings.
Apple revenue surged 36% from a year ago to $81.4 billion, its best ever fiscal third quarter, though Apple’s shares fell back in after-hours trading on the back of a slower growth forecast. Profit almost doubled to $21.7 billion on growth in iPhone sales and its increasingly important digital services.
Alphabet shares climbed by 5% in extended trading as the Google-parent reported quarterly results that beat Wall Street estimates by a significant margin.
Net income in the fiscal second quarter came in at $18.53 billion that translates to $27.26 per share. In the same quarter last year, its net income was capped at a much lower $6.96 billion or $10.13 per share.
It generated $50.95 billion of revenue in Q2 – an increase from $31.6 billion last year.
Microsoft Corp posted its most profitable quarter, beating Wall Street expectations for revenue and earnings, as PC sales declines stemming from a global chip shortage were more than made up for by a boom in cloud services.
Shares ticked up 0.7% after Microsoft projected that growth in its Azure cloud computing business will continue apace following a quarter in which sales climbed 51%.
Overall revenue rose 21% to $46.2 billion, beating analysts’ consensus by about $2 billion
Microsoft’s market capitalisation is nearly $2.2 trillion, after climbing nearly 30% so far this year, compared with 18% for the overall S&P 500 Index.