The Daily Chase: Big tech beats, oil earnings disappoint [BNN Bloomberg (Canada)]
Alphabet Inc. - Class C Capital Stock (GOOG)
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Source: BNN Bloomberg
hotly anticipated on Thursday, and the numbers from both companies came in ahead of expectations. Google was the big winner, with revenue increasing 15 per cent to more than US$80 billion, and profit rising from $15 billion to just over $23 billion. The strong showing prompted the company to announce plans to buy back $70 billion of its own shares and implement a quarterly dividend for the first time in its history. AI was a major driver of growth, as it was at Microsoft where the numbers weren't quite as eye-popping but still solidly positive. Revenue rose 17 per cent to $61.9 billion during the quarter, and profit was higher, too. Google stock is up by about 11 per cent in premarket trading while Microsoft is up by about 5 per cent on the upbeat outlook. After a touch-and-go few weeks, the Magnificent 7 are looking a lot more magnificent once again. Big Oil earnings disappoint: While Big Tech is shining brightly, it was a different story at Big Oil on Friday. Chevron shares were d
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