BigTech profits surge to record highs

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BigTech profits surge to record highs

By Alexandra Leonards

28/7/2021

Several technology giants have reported record profits over the past few months, largely boosted by the shift to online during the pandemic.

Microsoft experienced a 47 per cent year-on-year profit increase to $16.5 billion in the three months to 30 June.

Across the same period, Apple profits almost doubled to $21.7 billion.

On Tuesday, Google-owner Alphabet reported a second quarter revenue growth of 62 per cent to $61.9 billion.

Chief executive of Google and Alphabet said that in the second quarter there had been a "rising tide of online activity in many parts of the world."

“Our strong second quarter revenues of $61.9 billion reflect elevated consumer online activity and broad-based strength in advertiser spend. Again, we benefited from excellent execution across the board by our teams,” said Ruth Porat, chief financial officer, Google and Alphabet.

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