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Alphabet quarterly earnings lifted by cloud and AI
Economic Times
·
3m ago
Medial
Alphabet, Google's parent company, reported a quarterly profit of $34.5 billion, driven by cloud computing and AI operations. Overall, revenue rose 12% to $90.2 billion, with cloud revenue up 28% to $12.3 billion. CEO Sundar Pichai highlighted strong business growth and AI advancements. However, Google faces antitrust challenges, potentially impacting its online ad business and future investments. Legal battles may necessitate significant structural changes, including a possible Chrome spinoff, amid concerns over monopolistic practices.
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Alphabet and Microsoft see earnings rise on AI-infused cloud
Economic Times
·
1y ago
Medial
Alphabet (parent company of Google) and Microsoft have reported increased earnings driven by their cloud computing businesses, powered by artificial intelligence (AI) technology. Both companies have invested heavily in AI and are benefiting from its adoption in various industries. Cloud services have become essential for businesses as they transition to remote work and digital transformation. The pandemic has accelerated the demand for cloud-based solutions, leading to strong financial performances for Alphabet and Microsoft.
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Results from Alphabet and Snap lift shares of online ad sellers
Economic Times
·
9m ago
Medial
Online ad sellers, such as Alphabet, Reddit, and Snap, experienced a significant increase in stock market value following positive quarterly results. Alphabet saw a 4% surge in stock value due to exceeding revenue expectations, driven by growth in digital advertising and demand for cloud services. Meta Platforms and Amazon, both competitors of Alphabet in advertising and AI, also experienced stock gains. Snap, despite facing tough competition, beat revenue and user growth expectations, leading to a 7% increase in its stock value. Reddit's extended trade surged by 20% after forecasting higher quarterly revenue, suggesting an increasing number of advertisers are turning to the platform.
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Alphabet, Microsoft earnings show hefty AI bets are driving growth
Economic Times
·
1y ago
Medial
Alphabet and Microsoft reported strong earnings, driving a rally in technology stocks. Alphabet's stock rose by 10%, crossing the $2 trillion market value mark, while Microsoft gained nearly 3%. Both companies attributed their revenue growth to increased investments in artificial intelligence (AI). Microsoft's Azure cloud-computing platform saw a 31% jump in revenue, with AI services accounting for 7 percentage points of that growth. Google's cloud revenue also increased by 28% due to strong growth in Google Workspace, which offers various AI-powered features. This contrasted with Meta Platforms' warning of higher spending and slower growth.
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Meta, Microsoft reports lift AI-related stocks
Economic Times
·
3m ago
Medial
Shares of AI and cloud-computing companies surged following better-than-expected earnings from Meta Platforms and Microsoft. Nvidia and Advanced Micro Devices saw increases, with Amazon and Alphabet shares also rising. Microsoft's strong Azure growth reassured investors about its AI investments, while Meta's AI tools attracted advertising despite economic uncertainties. Super Micro Computer and C3.AI experienced modest gains, with Super Micro's earlier session slump partly recovered.
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Big Tech reports strong Q1 numbers amid AI push
Economic Times
·
1y ago
Medial
In the first quarter of 2024, technology giants Alphabet, Microsoft, and Meta reported strong earnings, with a focus on artificial intelligence (AI). Alphabet's parent company, Google, saw profits of $23.7 billion driven by cloud computing and AI. Microsoft reported a 17% increase in sales and attributed its success to AI and cloud services like Azure. Meta experienced a significant profit increase of $12.37 billion due to higher advertising revenue. However, Meta's CEO, Mark Zuckerberg, acknowledged that AI projects would require significant ongoing investment, while Google and Microsoft expressed confidence in the potential of their AI initiatives. Regulatory scrutiny of AI investments and alliances also remains a challenge for these tech companies.
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Alphabet jumps as AI-driven spending fuels cloud revenue surge - The Economic Times
Economic Times
·
15d ago
Medial
Alphabet has raised its 2025 capital spending forecast by $10 billion to $85 billion, driven by increasing demand for cloud services and competition in AI. Its cloud-computing revenue surged 32% in the second quarter, exceeding expectations, due to investments in in-house chips and the Gemini AI model. Despite regulatory challenges and scrutiny over spending, Alphabet shares saw a 3% pre-market rise, highlighting investor confidence in its AI-driven growth potential.
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Strong ad sales, stable enterprise spending wind beneath Big Tech earnings
Economic Times
·
1y ago
Medial
US technology giants like Microsoft, Alphabet, Facebook, and Amazon are expected to post strong quarterly revenue growth driven by recovery in their enterprise software and digital ads businesses. However, the boost from artificial intelligence (AI) investments may not be significant in the short term. Microsoft is likely to report a rise in revenue from its investment in OpenAI, while other companies may face short-term bottom line impacts from AI investments. Cloud computing growth is expected to show little improvement as clients seek to optimize infrastructure costs.
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Nvidia replaces Alphabet as Wall Street's third most valuable company
Economic Times
·
1y ago
Medial
Nvidia has surpassed Alphabet to become the third most valuable company in the US, following its recent overtake of Amazon. With a market capitalization of $1.825 trillion, Nvidia's rise in stock value is attributed to its dominance in the high-end AI chip market. The company's upcoming quarterly report is highly anticipated, and analysts are optimistic about strong results. However, any disappointment could deflate the current AI-driven market rally. Nvidia's stock is currently trading at around 34 times the expected earnings.
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Big Tech's "Magnificent Seven" heads into earnings season reeling from Trump turbulence
Economic Times
·
3m ago
Medial
Big Tech companies are entering the quarterly earnings season amid turmoil from President Trump's policies. The Magnificent Seven—Apple, Microsoft, Nvidia, Amazon, Tesla, Google (Alphabet), and Meta—have experienced a combined market value drop of $3.8 trillion since Trump's inauguration. His tariffs and antitrust actions have created uncertainty, impacting supply chains and investments. As they report earnings, these companies will address challenges, with Tesla, Google, Amazon, Meta, Microsoft, Apple, and Nvidia set to make announcements soon.
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Alphabet has strong Ad sales but cloud business disappoints
Economic Times
·
1y ago
Medial
Alphabet, the parent company of Google, reported an 11% increase in quarterly sales, reaching $76.7 billion, driven by a rebound in digital advertising. However, investors were disappointed with the performance of its cloud computing business, which falls behind competitors Microsoft and Amazon. Alphabet's profit rose by 42% to $19.7 billion, exceeding expectations. Google Cloud, the company's division offering technology services, recorded sales of $8.4 billion, a 22% increase but lower than estimated. Despite beating profit and revenue estimates, Alphabet's stock price fell over 6% in after-hours trading.
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