Alphabet, the owner of Google, reported the quarter’s revenue growth of 17% on back of increased profit from advertising on mobile devices, reports bi-Bi-si. The company’s consolidated revenues in the year to March 31 rose to $20,26 billion compared to $ 17,26 billion in the same period a year earlier, but still was below the expectations of analysts, who predicted revenue of Alphabet in $20,37 billion Earnings per share amounted to $7,50, while analysts had predicted a profit of $7,97 per share. Net quarterly profit amounted to $ 4.2 billion compared with $3.5 billion a year earlier.
By the close of trading shares of Alphabet lost more than 4%, Reuters noted
Another quarterly report from technology giant Microsoft also fell short of analysts ‘ expectations. The profit of the company amounted to us $0,62 per share on expectations of $0,64,notes Reuters. Net quarterly profit fell to $3.76 billion compared with the $4.99 billion for the same period last year.
The continuing decline in the PC market adversely affected the demand for single-use license for some Microsoft products, said in a statement, which leads Reuters.