Saturday, November 27

Tech companies’ profits exceed expectations.. Alphabet earns $19 billion

Alphabet predicts that consumer demand for digital services, such as shopping, will continue even as they return to in-store purchases

Some of the largest technology companies achieved profits that exceeded expectations in the third quarter of this year due to the high demand for cloud computing services and advertising.

The net profit of “Alphabet”, the parent company of “Google” (Google), amounted to about 19 billion dollars, compared to expectations of about 16 billion. The company also achieved quarterly sales of $65 billion.

Alphabet expects that consumers will continue to demand digital services, such as shopping, even with a return to purchase from stores.

Microsoft also achieved a quarterly profit of more than $20 billion, compared to previous expectations of about $16 billion.

Microsoft’s profit is attributed to the 36% growth in its cloud computing activity in the third quarter.

The American company expected that the demand for its services would continue, but at the same time it warned of the repercussions of supply chain disruptions on the production of laptops and game consoles.

What about Facebook?

Facebook Inc. achieved net profits of $9.2 billion during the third quarter, an increase of 17% compared to last year, which is rare good news for the giant American group facing one of the worst scandals in its history.

For more than a month, the US media has been publishing articles based on the so-called “Facebook Papers”, internal documents handed over by thousands of former engineer Frances Hogan to the US Securities and Exchange Commission.

The controversy revolves mainly around Facebook’s prior knowledge of the dangers on its network, especially with regard to the harm caused by content via “Instagram” to teenagers, which is caused by false information spread through its pages.

And between last July and September, Facebook achieved a turnover of $29 billion, up 35% over a year.

The network attracts 2.8 billion users daily, an increase of 11% compared to last year.

more economy



Reference-www.aljazeera.net

Leave a Reply

Your email address will not be published. Required fields are marked *