Wall Street punishes Alphabet and Microsoft despite earnings beats after stocks hit record
Publishing timestamp: 2024-01-31 12:18:25
Summary
The article discusses how Microsoft and Alphabet reported quarterly results that exceeded estimates, but their stocks sold off after hours. The companies were praised for their cost-cutting efforts and their success in the artificial intelligence wave. However, investors were disappointed and nitpicked the numbers, leading to the drop in stock prices. The article also mentions that Alphabet's ad business fell short of expectations, and Microsoft's outlook was slightly below analysts' expectations. The article concludes by mentioning that attention now turns to the upcoming quarterly results of Amazon, Apple, and Meta.
Sentiment: MIXED
Tickers: META, AAPL, MSFT, GOOGL, AMZN, AMD,
Keywords: alphabet inc, earnings, advanced micro devices inc, apple inc, internet, social media, technology, enterprise, meta platforms inc, business news, breaking news: technology, microsoft corp, amazon.com inc,