Microsoft published its financial results for the fourth fiscal quarter ending on June 30, 2021, on Tuesday with revenue marking $46.2 billion, exceeding analyst estimates and increasing by 21% from the comparable period of last year. The company’s net income rose by 47% year-on-year to $16.5 billion, while diluted earnings per share soared by 49% to $2.17%. For the yearly results of the fiscal year 2021, Microsoft’s revenue rose by 18% to $168.1 billion, while the net income grew by 38% to $61.3 billion, both figures compared to the 2020 financial results. Diluted earnings per share this year were 40% higher than in the previous one, amounting to $8.05. “We are innovating across the technology stack to help organizations drive new levels of tech intensity across their business. Our results show that when we execute well and meet customers’ needs in differentiated ways in large and growing markets, we generate growth, as we’ve seen in our commercial cloud – and in new franchises we’ve built, including gaming, security, and LinkedIn, all of which surpassed $10 billion in annual revenue over the past three years,” said Satya Nadella, Microsoft’s CEO.
Alphabet’s revenue soars 62% to $62B in Q2
Alphabet Inc. unveiled on Tuesday that its revenue surged 62% on an annual basis to land at $61.88 billion in the year’s second trimester, and top the analysts’ expectations. Google’s parent’s operating income gained 31% year over year to amount to $19.4 billion, while its net income climbed 166% to $18.5 billion, or $27.26 per diluted share. Per segment, Google Search & other revenue rose 68.1% to $35.8 billion, while Google Cloud surged 53.9% to $4.6 billion. “In Q2, there was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience,” CEO Sundar Pichai commented. Alphabet’s shares jumped more than 4% in the after-hours trading, following the announcement.
Visa’s Q3 revenue jumps 27% $6.1B
Visa said on Tuesday its revenue in the third quarter of fiscal 2021 amounted to $6.1 billion, climbing 27% compared to the same period a year earlier and topping analysts’ estimates. GAAP net income rose 9% year on year to $2.6 billion, while GAAP earnings per share (EPS) increased 10% to $1.18. Adjusted net income surged 39% to $3.3 billion, or $1.49 per share. “Visa delivered another strong quarter as many key economies are well into a reopening-driven recovery. This was best demonstrated by credit and face-to-face spending bouncing back while debit and eCommerce volumes remained robust from accelerated cash digitization sparked by the pandemic,” CEO Alfred Kelly Jr. stated. Visa shares were down 1.17% in after-hours trading despite better-than=expected results. Nick Note: The party continues for now