Microsoft, Google beat earnings expectations amid AI frenzy
Wednesday, 26 July 2023
Google's advertising revenue reached $58.1bn and its cloud business grew to $8bn compared to $6.3bn the previous year’s same period. Meanwhile, Microsoft's net profit rose 20% YoY to $20.1bn and sales hit $56.2bn. The market value of the two companies puts them on top, with Apple retaining its position as the most valuable company.
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