US tech giants report revenues for July-September

ISTANBUL

US tech giants including Microsoft, Meta, and Alphabet have reported their revenues for the July-September period, with increases across the board for the corporations.

Microsoft’s revenue rose 18% year-on-year to $77.7 billion in July-September, while its net profit increased 12% over the same period to $22.7 billion and its earnings per share climbed from $3.3 to $3.72.

Meta – the owner of Facebook, Instagram, and WhatsApp – saw its revenue surge 26% on an annual basis to $51.2 billion in the third quarter, while its net profit declined 83% to $2.7 billion. Its earnings per share plummeted from $6.03 in the same period last year to $1.05.

The company said it expects $56 billion to $59 billion in revenue next quarter.

The revenue of Alphabet, the parent holding company of Google, climbed 16% year-on-year to $102.3 billion in the third quarter.

Its net profit posted a 33% increase over the same period to $35 billion and its earnings per share climbed from $2.12 to $2.87.