At most In the most recent quarter, Microsoft reported $62 billion in revenue, $27 billion in operating income, and $21.9 billion in net income. It also cut 1,900 jobs recently. Alphabet reported revenue of $86.3 billion, operating income of $23.7 billion, net income of $20.7 billion and headcount down nearly 8,000 compared to last year.
On the one hand, two of tech's best-known names turned in results that kept their operating profits at or around the $100 billion annual run rate mark. On the other hand, both have recently worked to control costs through layoffs. It's the best of times, it's the worst of times.
Similar tremors exist in startup-land, where venture capital amounts have dwindled and many startups are stuck between funding rounds or between private and public markets. At the same time, many interesting upstart tech companies are rapidly developing new tools and services with or on top of AI models. It's the best of times, it's the worst of times.