Microsoft and Google earnings surge following AI deployment [Yahoo! Finance]
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: Yahoo! Finance
Their earnings were posted just a day after Meta's shares fell 15% following its own earnings call, during which CEO Mark Zuckerberg stated that it would increase its AI investment to $40bn. Shares in Microsoft and Alphabet rose 5% and 11%, respectively, following their results. Microsoft's revenue for the quarter rose 17% to nearly $62bn, while Alphabet recorded first-quarter revenue of $80.5bn. Following its earnings call, Alphabet's market cap exceeded $2trn, and it announced its first-ever quarterly dividend of $0.20. Both companies credit AI as a catalyst for their growth. Alphabet CEO Sundar Pichai stated that his company had great momentum in its AI investments. “Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation,” he said. Microsoft's CEO and chairman, Satya Nadella, similarly praised his company's AI strategy and its Copilot products. “Microsoft Copilot and Copilot stack are or
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