The Tech Company News Brief: How Much Money Did Tech Companies Make Last Quarter?

It's been a busy few weeks, with each of the tech behemoths reporting their earnings for the third quarter of the year. Here's a quick recap of the billions each one of them made: -parent saw a whopping 11% year-over-year in its revenue during the three months ended Sept. 30. The tech titan made a profit of $19.69 billion on revenues of $76.69 billion in the preceding quarter, compared to a profit of $13.91 billion on revenues of $69.09 billion in the same period of 2022. Google Alphabet increase The increases were driven by "meaningful growth in Search and YouTube, and momentum in Cloud," Alphabet CFO Ruth Porat said in a statement. too reported an in its revenues and profit for the three months ended Sept. 30. The Windows maker generated $56.52 billion in revenue and $22.29 billion in income last quarter, compared to the $50.12 billion in revenue and $17.56 billion in net income in the same quarter last year. Microsoft increase As with Google, Microsoft attributed a momentum in cloud computing as a catalyst for the increased sales. Meanwhile, over at Mark Zuckerberg's Meta, the Menlo Park, Calif.-based social media giant had an eye popping . The company made $34.15 billion in revenue, up 23% year over year, but the breakthrough was of course, the profit: up more than 2.5x to $11.58 billion from the $4.40 billion a year ago. turnaround story Topping things off, said its net sales increased 13% year over year to $143.1 billion during the most recent quarter while net income was to $9.9 billion from $2.9 billion a year ago. Amazon up Despite raking in billions, each of these companies of people this year in a bid to save cost and even out the lack of growth from the COVID-19 days when their businesses were booming. laid off thousands Google ranked #6 on HackerNoon's Tech Company Rankings this week. Microsoft ranked #8 while Meta was on the #24 spot. ⛲ Amazon, Google's Plan to Beat ChatGPT: Invest in Its Competitor It looks like Google is partnering with Amazon in funding a startup that promises to compete head to head with Microsoft-backed OpenAI's ChatGPT. We are, of course, talking about Anthropic, the San Francisco-based generative AI startup that received an inflow of $1.25 billion from Amazon last month with promises of another cool $2.75 billion. Well, Anthropic is now Google to its list of investors, as the search giant too is investing a cool half a billion dollars in the startup with commitments of up to $1.5 billion in the future. adding The combined $6 billion from Amazon and Google, while nothing to scoff at, is still less than half the $13 billion Microsoft has reportedly into OpenAI ever since it shook hands with the company in 2019. injected What's also interesting is the fact that, as opposed to OpenAI, Anthropic has garnered interest from two major tech giants who compete against each other in the cloud space. It just might seem that companies that are lagging behind in the AI space are trying to play catchup and catch lightning in a bottle, similar to how Microsoft did with its investment in OpenAI. Also, an interesting fact: Anthropic was co-founded by former OpenAI executives and siblings Dario and Daniela Amodei. Exciting times ahead! 👋 You’re reading of HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. went live yesterday. Prefer reading the whole thing a day early AND in one go? No problemo! Just subscribe to receive the newsletter in your inbox every Tuesday. part 2 Part 1 here complete In Other News.. 📰 Resident Evil Village on the iPhone could be a preview of Apple’s gaming future — via . The Verge Google CEO Sundar Pichai to testify in US antitrust trial — via . Reuters Amazon’s Tye Brady discusses generative AI, humanoid robots and mobile manipulation — via . TechCrunch A look back at Elon Musk’s first year owning Twitter, in tweets — via . CNN Fidelity has marked down the value of Twitter/X by 65% — via . Axios Biden unveils U.S. government’s first-ever AI executive order — via . CNBC And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon *All rankings are current as of Monday. To see how the rankings have changed, please visit HackerNoon's page. Tech Company Rankings