Amazon, Intel, and Microsoft post impressive quarterly results
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Amazon and Intel have released their first-quarter financial results, while Microsoft has published its third-quarter report (the Redmond-based company’s fiscal year runs from July to June). The figures for all three companies have demonstrated either notable income rises or have exceeded financial institution forecasts. Intel reported Q1 2018 revenue of US$16.1 billion, up from US$14.8 billion in Q1 2017. High demand from data centers for chips from the California-based firm helped boost figures above expectations.
Microsoft’s revenue for its third quarter was US$26.8 billion, which was an impressive 16% increase for the corresponding period a year ago. The company’s Chief Executive Officer, Satya Nadella, partly attributed the good results to the Microsoft Azure cloud-computing service, and he also added:
We are innovating across key growth categories of infrastructure, AI, productivity, and business applications to deliver differentiated value to customers.
Although a considerable part of Amazon’s business is not specifically tech-oriented, the acquisition of home-security firm Ring, the continued development of Alexa-enabled products, and the profitability of the cloud-computing provider Amazon Web Services (AWS) all contributed to the company’s success, with massive Q1 2018 sales of US$51 billion being recorded. The figure for Q1 2017 was US$35.7 billion, so the current results have been seen as surprising by industry experts.