Big tech companies have been posting their first-quarter earnings throughout the week. Microsoft (MSFT), Google’s parent company Alphabet (GOOGL), Facebook (FB), and Apple (AAPL) all reported surging profits and revenues as they continued to capitalize on the pandemic.
Microsoft saw its biggest quarterly revenue increase since 2018, which was largely driven by its cloud business and Xbox sales (some gamers couldn’t even get a hold of the popular console). Meanwhile, Alphabet’s cloud business reported impressive growth, and its year-on-year Q1 revenues were up 34%, fueled by digital advertising.
This was also the case with Facebook, which saw its earnings rise by 48% mainly due to high ad revenue. Congrats to the whole gang!