Alphabet, Microsoft earnings show hefty AI bets are driving growth [Globe and Mail, The (Toronto, Canada)]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Globe and Mail, The
AI investments were driving growth, allaying doubts that their costly bets would take time to pay off after a soft forecast from Meta Platforms ( Alphabet rose 10%, crossing $2 trillion in market value with a gain of about $180 billion as it sweetened the pot for investors with its maiden dividend and a $70 billion stock buyback. The world's fourth most valuable firm flirted with the milestone on an intraday basis over three years ago although it never closed above that level, according to LSEG Datastream. Microsoft gained nearly 3% and was set to add more than $80 billion to its market value. After pouring billions of dollars into the infrastructure needed to support AI applications, both Alphabet and Microsoft reported that their quarterly revenue growth was outpacing expectations as more users turn to services including the Copilot AI assistant and the Gemini chatbot. AI services accounted for 7 percentage points of the 31% jump in revenue at Microsoft's Azure cloud-compu
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META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 5/3/24 - Form 144
- 5/2/24 - Form 4
- 5/2/24 - Form PX14A6G
- META's page on the SEC website