Three Tech Giants – Apple, Microsoft, and Alphabet – reported combined profits of $57 billion in a record-busting quarter (April-June) as companies continue to benefit from the pandemic situation.
Apple nearly doubled its profits, Earned $21.7 billion for the three-month period ended in June. Revenue for Apple surged 36% totaling $81.4 billion. It’s been the best fiscal third-quarter for Apple soo far.
iPhone sales played a major role in fueling up profits as Apple’s iPhone sales totaled $40 billion in the latest quarter, 50% more than the previous year.
Apple managed to increase its services revenue up to 36% from last year to $17.5 billion.
Microsoft reported revenue of over $46.2 billion for the quarter – rise of 21% compared to the same quarter last year. And made profits of $16.5 billion, rise of 47% from the same period last year.
The Productivity and Business Processes unit contributed $14.69 billion in revenue. Microsoft’s Personal Computing segment had $14.09 billion in revenue. Revenue from Azure grew 51% in the quarter (amount not disclosed).
Alphabet, Google’s parent company, reported revenue of $61.8 billion, a 62% increase, and a profit of over $18.5 billion compared to last year’s $6.96 billion, more than thrice its profits for the same period last year. Google’s advertising revenue went up to $50.44 billion-rise of 69% from last year.