The quarterly results of Alphabet and Microsoft’s29. July 2022
The quarterly results of Alphabet and Microsoft’s
New York, 7/29/2022
Alphabet and Microsoft reported earnings and revenue below expectations in their latest quarterly reports. Apple, Amazon and Meta will also release their earnings reports this week.
In Q2, Google’s parent company reported revenue of $69.7 billion versus analysts’ expectations of $69.9 billion. Profit of $16 billion was down from $18.5 billion a year ago. advertising revenue of $56.29 billion was slightly higher than the expected $56.14 billion.
The company attributed the results to inflation, advertiser pullback and the looming possibility of a recession, among other factors.
Earlier this month, CEO Sundar Pichai said Alphabet will hire fewer employees this year and is “not immune to economic headwinds.” He urged employees to “be more entrepreneurial.”
Microsoft’s Q4 revenue was $51.87 billion versus the expected $52.44 billion.
The company cited a decline in advertising spending, changing exchange rates , supply chain disruptions, the Ukraine war and a slowdown in its PC business.
The video games business reported a 7% year-on-year decline in sales.
As part of a realignment of its businesses, Microsoft will also reduce a small percentage of its workforce, but will continue to hire in other areas.