First-quarter results are in for the big six tech companies: Alphabet, Amazon, Apple, Facebook, Microsoft and Netflix all saw increases in their top and bottom lines compared to the same quarter the year before, according to data from FactSet.
Combined, the companies grew by $ 18 billion in total year-over-year revenue and $ 4.5 billion in profit last quarter to generate $ 146 billion in total revenue and $ 25 billion in total profit.
Of note: Netflix — where investors usually focus on subscriber growth — saw profit jump to $ 178 million this quarter, up more than 500 percent from a year earlier.
Facebook’s growth isn’t slowing as fast as Wall Street expected, as the company continues to add new users and expand its mobile advertising business. Of the six, it added the most Q1 profit year-over-year, $ 1.3 billion, while Amazon added the most revenue, about $ 6.6 billion more than during Q1 2016.
Apple saw revenue and profit growth of nearly 5 percent — small, percentage-wise, compared to the other tech giants, but a continued reversal from its prior slump.