Microsoft, Alphabet, and Intel announce January-March earnings

Revenues for U.S. technology companies Microsoft, Alphabet, and Intel increased during the January-March period.

Microsoft, which considers the January-March period as its third quarter in its fiscal calendar, released its earnings report.

Accordingly, the company's revenue rose by 17 percent in the January-March period compared to the same period last year, reaching 61.9 billion dollars. Microsoft had generated 52.9 billion dollars in revenue in the January-March period of 2023.

The company's net profit also increased by 20 percent in the same period, rising to 21.9 billion dollars. The firm's net profit was 18.3 billion dollars in the same period last year.

Microsoft's earnings per share also rose from 2.45 dollars to 2.94 dollars during this period.

Alphabet, the parent company of Google, also announced its earnings for the first quarter of 2024.

Accordingly, Alphabet's revenue in the first quarter of the year increased by 15 percent compared to the same period last year, reaching 80.5 billion dollars. The company had generated 69.8 billion dollars in revenue in the first quarter of 2023.

The company's net profit in the first quarter reached 23.7 billion dollars, a 57 percent increase compared to the same period last year. Alphabet had recorded a net profit of 15.1 billion dollars in the first quarter of last year.

The firm's earnings per share, which were 1.17 dollars in the January-March period of last year, rose to 1.89 dollars in the same period this year.

Alphabet announced that it will distribute a cash dividend of 0.20 dollars per share to shareholders of record as of June 10, 2024. It was stated that the company plans to pay a quarterly cash dividend, subject to board approval.

Intel, one of the world's largest microchip manufacturers, released its earnings report for the first quarter of 2024.

Accordingly, the company's revenue in the first quarter of the year increased by 9 percent compared to the same period last year, reaching 12.7 billion dollars. Intel had generated 11.7 billion dollars in revenue in the January-March period of last year.

Intel reported a net loss of 437 million dollars in the first quarter of the year. Intel had reported a loss of 2.8 billion dollars in the same period last year.

The microchip manufacturer's loss per share was calculated at 9 cents for this period. The company had reported a loss of 66 cents per share in the first quarter of last year.

News Source: AA