Microsoft Tops Cloud Computing Expectations; Alphabet Ad … – Investopedia
Microsoft (MSFT) and Alphabet Inc. (GOOG, GOOGL) shares rose in after-market trading after Microsoft beat expectations for growth of its cloud segment and Alphabet authorized a share buyback while reporting a decline in ad revenue.
Key Takeaways
- Microsoft announced earnings per share of $2.45 versus $2.24 forecast.
- Alphabet had momentum in cloud, but Youtube ad revenues fell again.
- No further job cuts announced but Alphabet takes a $2 billion hit on layoffs.
Shares of Redmond, Washington-based Microsoft jumped 5% after the company posted earnings per share of $2.45, beating analysts’ expectations for $2.24. Its performance was driven by strong cloud computing revenue, which came in at $22.1 billion versus estimates of $21.9 billion.12
Alphabet, the parent company of Google, beat estimates for revenue, which came in at $69.8 billion and profit, which totaled $15.1 billion. Still, advertising revenue fell 5% to $40.4 billion and it said sales from Youtube ads slipped to $6.69…
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source: https://news.oneseocompany.com/2023/04/25/microsoft-tops-cloud-computing-expectations-alphabet-ad-investopedia_2023042544028.html
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