Africa-Press – Lesotho. Technology giants Microsoft and Alphabet saw their revenue increase in the second quarter of the year, according to financial results released on Tuesday. Microsoft’s revenue was $51.9 billion in the April-June period, a 12% increase from the same period of last year.
“Commercial bookings grew 25% and Microsoft Cloud revenue was $25 billion, up 28% year-on-year,” Amy Hood, executive vice president and chief financial officer, said in a statement.
Net income was $16.7 billion in the second quarter, rising 2% from the same period of 2021. Google’s parent company Alphabet posted revenue of almost $69.7 billion, a gain of 12.6%.
Its net income, however, decreased 13.5% to $16 billion. Sundar Pichai, CEO of Alphabet and Google, said in a statement that the company’s Q2 performance was driven by search engine and cloud technology.
Alphabet’s stock price was up almost 4.5% to $109.72 per share in pre-market trading on the Nasdaq at 8.22 a. m. EDT on Wednesday. The stock price of Microsoft was up 3.6% to $251.90 per share at the same time.
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