Major US tech firms post income, revenue increase in Q1

By Ovunc Kutlu

NEW YORK (AA) - Major technology companies in the U.S. saw their net income and revenues increase in the first quarter, according to figures announced Thursday.

Google's parent company Alphabet's net income rose 29 percent to $5.43 billion in the first quarter, from $4.21 billion in the same period last year. Revenue increased 22.2 percent to $24.75 billion, from $20.26 billion.

Google's net income jumped 21.8 percent to $7.6 billion, from $6.24 billion; while revenue rose 21.9 percent to $24.5 billion, from $20.1 billion, during the same period.

Google's ad revenue increased 18.9 percent to $21.4 billion, from $18 billion.

After strong financial results, Alphabet's stock price climbed 5.1 percent to $937 a share in after-hours trading.

Microsoft also saw its net income rise $27.6 percent to $4.8 billion in the January-March period this year, from $3.76 billion a year ago. Its revenue climbed 11 percent to $22.09 billion, from $20.53 billion, during that period.

The results, however, missed expectations and the firm's shares fell 2.4 percent to $66.60 after the final bell.

Microchip giant Intel's net income rose 50 percent to $3 billion in the first three months of the year, from $2 billion a year ago. Revenue increased 8 percent to $14.8 billion, from $13.7 billion, during the period.

Intel's results also missed expectations, and its shares declined 4.4 percent to $35.83 during after hours.

E-commerce giant Amazon saw its net income rise 41.1 percent to 724 million in the first quarter, from 513 million last year. Revenue rose 22.7 percent to $35.7 billion, from $29.1 billion, year-over-year.

Amazon's stock price climbed to $961.44 per share with a 4.7 percent gain after the stock market closed.