Tech companies record high quarterly figures, partly due to pandemic

September 29, 2021 by No Comments

Tech companies Microsoft and Alphabet, the parent company of Google, presented the figures for the first quarter of 2021 on Tuesday. Both companies recorded high profits, which they partly attributed to the pandemic. At Alphabet, there were record figures.

In the first three months of the year, Alphabet’s turnover rose to 45.7 billion euros, an increase of 34 percent compared to a year earlier. Below the line, a record profit of 14.8 billion euros remained, an increase of 162 percent compared to the same period in 2020. A large part of the increase can be attributed to increased advertising revenue from Google Search, according to Alphabet. In addition, according to Sunder Pichai, CEO of Alphabet, more YouTube videos are watched during the pandemic, increasing the reach of ads on the platform.

Microsoft also reported growth in quarterly revenue. Turnover rose by 19 percent to 34.5 billion euros. According to the American company, a profit of 12.8 billion euros was made, an increase of 44 percent compared to a year earlier. An important factor, in addition to the sale of phones and computers, for Microsoft is the growing sales of products that allow companies to work online.

On Wednesday, tech companies Apple and Facebook will announce their quarterly figures. In particular, Apple, which recorded the highest revenue ever in the fourth quarter of 2020, is expected to have lower figures this quarter.