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Tech Bulls Back in Driver Seat After Microsoft and Alphabet Blowouts [BNN Bloomberg (Canada)]
Last microsoft corporation earnings: 4/29 04:06 pm
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US:NASDAQ Investor Relations: microsoft.com/en-us/investor
Results from Microsoft Corp. and Alphabet Inc. reassured investors that AI can live up to its reputation as a potent driver of growth and sales, setting the market on a more stable footing after a rocky start to the earnings season. The reports stood in contrast to Meta Platforms Inc., another AI favorite, which tumbled after it gave a weak sales forecast and said it would spend a lot more than expected this year. “I'm absolutely breathing a sigh of relief, because these are the kinds of big beats we needed to see by big tech for the market to resume its upward trajectory” said Jim Awad, senior managing director at Clearstead Advisors. “Alphabet and Microsoft cleared a high bar, and this justifies the levels they've been trading at. These reports show they're able to generate strong AI revenue without having to spend a lot more, and they're much better on the positive side than Meta was on the negative.” Microsoft beat expectations on both the top and bottom lines, fueled by it
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