Google beats Microsoft in revenue for third consecutive quarter, LinkedIn loses $100 million
Google beats Microsoft in terms of revenue for the third consecutive quarter.
Google’s parent company, Alphabet, and Microsoft have released their financial results. Microsoft has always been the market leader in terms of revenue generation but Google has been closing in with an upward growth. This is the third time that Google has beaten Microsoft.
Alphabet stated that the profit surged because of mobile search and video sharing on YouTube. Alphabet’s reported revenue is up 22 percent from the same period a year earlier. Google’s digital ad revenue added mainly to the profits. Alphabet chief financial officer Ruth Porat said,
“Our growth in the fourth quarter was exceptional. We’re seeing great momentum in Google’s newer investment areas and ongoing strong progress in Other Bets.”
Microsoft reported $26.1 billion revenue, more than analysts’ projections. Microsoft’s Azure Cloud was the largest revenue driver of the quarter. CEO Satya Nadella said in a statement,
“Our customers are seeing greater value and opportunity as we partner with them through their digital transformation. Accelerating advancements in AI across our platforms and services will provide further opportunity to drive growth in the Microsoft Cloud.”
Also, LinkedIn, which was recently acquired by Microsoft, accounted for $228 million in revenue and a net loss of $100 million for the quarter.
Both of them plan to focus on Artificial Intelligence (AI) in future. Apple is far ahead of both, Google and Microsoft, in the revenue race.