“We are focused on both investing responsibly for the long term and being responsive to the economic environment,” Mr Pichai added.
The company said total revenue was $69.09 billion in the quarter ended September 30th, compared with $65.12 billion a year earlier.“Financial results for the third quarter reflect healthy fundamental growth in Search and momentum in Cloud, while affected by foreign exchange,” chief financial officer Ruth Porat said. “We’re working to realign resources to fuel our highest growth priorities.”
In contrast, Microsoft surpassed Wall Street targets for first-quarter revenue on Tuesday as the ongoing shift to hybrid work powered demand for its cloud-based services and helped cushion a slump in the personal computers business. “In a world facing increasing headwinds, digital technology is the ultimate tailwind,” Satya Nadella, Microsoft chairman and chief executive officer, said. “In this environment, we’re focused on helping our customers do more with less, while investing in secular growth areas and managing our cost structure in a disciplined way,” he added.