U.S. Tech Giants Post Higher Revenues

US technology giants — including Microsoft, Meta, and Alphabet — reported higher revenues for the July–September period, posting gains across the board, according to an Anadolu Agency report.

Meta Platforms saw its revenue surge 26% year-on-year to USD 51.2 billion in the third quarter.

Microsoft’s revenue rose 18% year-on-year to USD 77.7 billion for the quarter, while its net profit increased 12% to USD 22.7 billion. Earnings per share climbed from USD 3.30 to USD 3.72.

Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, saw its revenue surge 26% year-on-year to USD 51.2 billion in the third quarter.

However, its net profit plunged 83% to USD 2.7 billion, while earnings per share fell sharply from USD 6.03 last year to USD 1.05. The company said it expects USD 56 billion to USD 59 billion in revenue next quarter.

Alphabet, the parent holding company of Google, posted a 16% year-on-year increase in revenue to USD 102.3 billion in the third quarter. Its net profit rose 33% to USD 35 billion, while earnings per share climbed from USD 2.12 to USD 2.87.