Big Tech Earningspalooza: Microsoft, Meta, Amazon and Alphabet Results Are Here
Four Big Tech companies - Alphabet, Amazon, Meta, and Microsoft - reported earnings on Wednesday, beating Street expectations on revenue and profit. The results were closely watched for insights into their businesses and plans for AI spending.
Four of the 'Magnificent 7' companies - Alphabet, Amazon, Meta, and Microsoft - reported earnings on Wednesday. All four beat Street expectations on revenue and profit. Microsoft's cloud computing revenue grew 29% last quarter, with Azure revenue growing 40%. Alphabet CEO Sundar Pichai highlighted Nvidia's latest chips as a core part of its AI accelerator portfolio. Nvidia's market value is over $5 trillion and its mid-May report is highly anticipated. The Big Tech earnings reports are expected to provide insight into the direction of stocks in the near term.
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