US-based multinational technology firms Microsoft and Alphabet posted strong revenue rises in the first quarter of 2022.
Washington-based Microsoft saw a total revenue of more than $49.3 billion for the first three months of this year, an increase of 18.2% from $41.7 billion in the same period last year, according to a financial results statement released late Tuesday.
It earned $16.7 billion in net income from January to March, an increase of 8.4% from $15.4 billion year-on-year.
Chairman and CEO Satya Nadella said in the statement that digital technology will be the "key input that powers the world's economic output."
Microsoft's stock price was up 3.9% in pre-market trading before the Nasdaq opened.
California-based Alphabet's revenue in the first three months of 2022 was $68 billion, up about 23% from $55.3 billion in the same period last year, according to a financial results statement released late Tuesday.
Google's parent company, however, had its net income declined 8.4% year-on-year to $16.4 billion from $17.9 billion.
Alphabet and Google CEO Sundar Pichai said in the statement that there was strong growth in search engine and cloud technology during the first quarter.
Alphabet's stock price was down 3.9% in pre-market trading on the Nasdaq, AA reports.
