Google, Microsoft beat Street with $110-billion revenue haul

Big Tech’s earnings boom stretched into the third quarter, with the pandemic surge in cloud computing, and a strong rebound in digital advertising, all but confirming 2021 will be a banner year for the sector.

Quarterly revenues of the technology giants Microsoft and Google parent Alphabet soared beyond Wall Street’s expectations, according to figures published on Tuesday.

According to the Financial Times calculation together, the duo posted revenue of $110.4 billion — a combined growth of 33 per cent on last year’s third quarter.

Microsoft Corp’s cloud-based software helped drive robust sales and profit growth, which topped analysts’ estimates for an 11th straight quarter.