Home / Business and Economy / Tech Giants Report Record Q3 Earnings
Tech Giants Report Record Q3 Earnings
6 Nov
Summary
- Apple achieved record revenue and device base.
- Alphabet's cloud services saw over 100% growth.
- Meta's advertising business showed strong momentum.
The Q3 earnings season has revealed significant growth for tech giants Apple, Alphabet, and Meta Platforms. Apple reported a record $114.5 billion in revenue for its fiscal Q4, a 12% year-over-year increase, with its installed device base reaching an all-time high.
Alphabet's latest earnings highlighted exceptional performance in Google Cloud, which saw its revenue surge by 103% year-over-year to $30.7 billion, largely due to AI infrastructure demand. Overall sales for Alphabet increased by 25% year-over-year.
Meta Platforms also presented robust results, with its advertising revenue growing 26% year-over-year to $64.6 billion. This growth was supported by increased ad impressions and higher ad prices, reflecting strong advertiser demand and AI-driven efficiencies.
Collectively, these technology leaders are benefiting significantly from artificial intelligence, which is a key driver for Alphabet's cloud services and Meta's advertising operations, alongside Apple's continued strength in its core offerings.
