Google’s parent company Alphabet and software giant Microsoft announced their total revenue in the January-March period of 2022. Although Google managed to increase its revenue compared to the previous year, it experienced a decrease in its profit rate.
As we prepare to leave the first month behind us in the second quarter of 2022, giant companies have started to publish their reports on their last quarter’s revenues. Today, Google parent company Alphabet and Microsoft released their financial statements for the period January–March 2022.
According to the report shared by Alphabet, the company generated total revenue of $68 billion in the January-March period. The company had revenue of $55.3 billion in the same period of the previous year. Alphabet’s net profit in this revenue, on the other hand, fell 8% from last year to $16.4 billion despite increased revenue .
Microsoft managed to increase its profits
Accepting the January-March period as the third quarter in its financial calendar, Microsoft, like Alphabet, managed to increase its revenue compared to the previous year. Microsoft, which earned $41.7 billion in revenue in the same period the previous year, increased this revenue by 18% to $49.4 billion. The company’s net profit increased by 8% compared to the previous year and reached 16.7 billion dollars .
Google felt the impact of war and getting rid of the virus
Alphabet, which has experienced a great decline in its profits this year, has seen the effects of the lifting of the coronavirus measures and the Ukraine war. While the demand for digital advertisements reached extreme levels while everyone was at home with the coronavirus, Alphabet managed to turn this demand into profit. But demand for Google’s two main advertising services began to decline. The company also reported that the war in Ukraine has caused some European advertisers to hesitate to spend on YouTube.