Shares for Amazon, Alphabet, and Microsoft are way up Thursday evening following huge sales figures reported for the previous quarter. Shares for Alphabet, the holding company for Google, jumped to over $1,000 after the company reported 24% growth over last three months. Amazon's sales rose a whopping 34% which pushed its shares up over $1,000 as well. Microsoft's sales were up 12% from the previous year which was also good news for investors. Their stock jumped 3% to an all-time-high above $82.
Alphabet's profits grew from $5.6 billion to $7.8 billion with most of that coming from Google, of course. YouTube in particular has seen rapid growth with Google estimating that 1.5 billion people spend an average of one hour per day watching content. Alphabet's "Other Bets" like Waymo and Project Loon have also seen strong growth as well.
Despite Amazon's growth, their profits have remained largely flat. This is due to their massive reinvestment in data centers, media content, and other infrastructure needed to support the company.
Microsoft earned $24.5 billion in revenue this past quarter with a large part being driven by their Azure cloud computing platform. Their productivity and business division, which oversees Microsoft Office, saw a 28% jump in revenue.