Alphabet shares declined by over 8% after it beat revenue and earnings targets yet fell short with its cloud business. Still, Alphabet CEO Sundar Pichai revealed that his company is seeing “a lot of interest in AI”, attempting to inject hope into what appeared to be a disappointing third quarter.

Microsoft stocks gained 4% after it was shown that its AI business was taking off, while its cloud business grew by 3%. “Some of the improvements, we’re making in Azure and even in Microsoft 365 gross margins, even in the core of the commercial cloud, it speaks to the pace at which we are delivering AI revenue with the increasing cost expense and capital investment ahead with the demand we see,” Microsoft CFO Amy Hood observed.

The post Stocks Dip Following Alphabet and Microsoft Earnings appeared first on theprimarymarket.com.

Alphabet’s revenue in Q1 came at $69.79 billion, a 3% increase from the year prior, compared to the $68.9 billion expected by analysts polled by Refinitiv. The reported $1.17 in earnings per share also exceeded the estimated mark of $1.07 per share.

The company also performed well in the digital advertising department despite the overall decline across the industry. Google Ad and YouTube Ad revenues came at $54.55 billion and $6.69 billion, respectively, versus expectations of $53.75 billion for Google and $6.64 billion for YouTube. Google Cloud revenue of $7.45 billion failed short of the $7.49 billion expected but turned a profit for the first time.

Alphabet’s earnings report also revealed that its board approved a $70 billion stock buyback and that the company had $2.6 billion in charges related to recent job cuts and office renovations.

“We are pleased with our business performance in the first quarter, with Search performing well and momentum in Cloud,” Alphabet’s CEO Sundar Pichai said in a statement. 

Alphabet’s stock closed at $103.85 per share on Tuesday before seeing a short jump to $108.45 in after-hours trading. The company’s shares are 16.53% up year-to-date.

The post Alphabet Beats Revenue and Earnings Estimates in Q1 appeared first on theprimarymarket.com.

If Samsung does choose Bing over Google, this could lead to a loss of $3 billion in annual revenue for Alphabet. While Google has historically been the market leader in the search engine space, Bing has been threatening Google’s dominance following the addition of OpenAI’s ChatGPT to provide responses to users’ queries.

Google has been working on several projects in an effort to compete with Bing and OpenAI on the artificial intelligence front. This includes a new project called Magi, which involves the addition of AI capabilities to its existing features.

According to IDC data, Samsung shipped 261 million smartphones in 2022 running Google’s Android software. In addition to its contract with Samsung, Google also has an agreement in place, which the New York Times valued at $20 billion in annual revenue.

The post Google Stocks Slide Amid Report That Samsung May Opt for Bing appeared first on theprimarymarket.com.

Alphabet shares rose almost 4% in pre-market trading following the announcement. This is the latest in a slew of major tech company layoffs, including the likes of Microsoft Corp.

Microsoft announced its decision to cut 10,000 jobs as inflation concerns have convinced the company to cut costs. It too announced its decision to rely more on AI technology.

Alphabet’s CEO Sundar Pichai wrote in a staff memo that the company is now facing a different economic landscape from when it adopted its rapid hiring strategy two years ago—a decision that Pichai said he is taking responsibility for. He went on to say that Google is looking “to share some entirely new experiences for users, developers, and businesses” before emphasizing the opportunity that lies before the company in the AI sphere.

The company has reportedly already notified affected employees within the United States, preparing to provide them with severance and six months of healthcare as well as immigration support.

The post Google Parent Company to Lay Off 12,000 Workers appeared first on theprimarymarket.com.

The investors probably liked the fact that Alphabet’s ad revenue came at $56.29 billion, beating the expected $56.14 billion. These numbers especially looked good when compared to some previously reported disastrous results, including those from Snap, causing the Alphabet stock to jump up. The company’s shares traded as high as $113.80 on Wednesday, marking a bounce back from the low point of $105.02 per share earlier this week. 

Sharing its Q2 numbers, Alphabet reported total revenue of $69.69 billion versus the $69.9 billion expected. Its adjusted earnings per share (EPS) reached $1.21, while Wall Street experts expected $1.28. Finally, traffic acquisition costs (TAC) came at $12.21 billion vs. an estimated $12.41 billion.

Among other interesting bits of info is YouTube’s poor advertisement performance. The popular video-sharing platform had just a 5% increase in ad sales and came at $7.34 billion in ad revenue versus the $7.52 billion expected. In the same period last year, YouTube had an 84% jump in ad sales.

The post Alphabet Shares Jump Despite Q2 Misses appeared first on theprimarymarket.com.

The Class A surge wasn’t here to stay as GOOGL was in for several ups and downs later in the day. At one point, the shares dipped to $111.01 before bouncing back to $111.86 and hovering around that figure for the remainder of the day.

The company’s less-active Class C stock (GOOG) also saw a slight bump, going from a split-adjusted $112.77 close on Friday to $114.80 per share at one point. It later settled at around the $112 range.

Alphabet’s GOOGL stock was at its highest in November, trading at $2996.77 per share or split-adjusted $149.83. GOOGL is currently down 23.07 percent year to date.

Alphabet made a decision to initiate a 20-1 stock split back in February. At the time, the company said that it wanted to make its shares more available to individual investors. Several other big companies announced stock splits in recent months, including e-commerce powerhouse Amazon and electric car maker Tesla. 

The post Alphabet Shares See Several Ups and Downs After Stock Split Takes Effect appeared first on theprimarymarket.com.

Alphabet shares declined by over 8% after it beat revenue and earnings targets yet fell short with its cloud business. Still, Alphabet CEO Sundar Pichai revealed that his company is seeing “a lot of interest in AI”, attempting to inject hope into what appeared to be a disappointing third quarter.

Microsoft stocks gained 4% after it was shown that its AI business was taking off, while its cloud business grew by 3%. “Some of the improvements, we’re making in Azure and even in Microsoft 365 gross margins, even in the core of the commercial cloud, it speaks to the pace at which we are delivering AI revenue with the increasing cost expense and capital investment ahead with the demand we see,” Microsoft CFO Amy Hood observed.

The post Stocks Dip Following Alphabet and Microsoft Earnings appeared first on theprimarymarket.com.

Alphabet’s revenue in Q1 came at $69.79 billion, a 3% increase from the year prior, compared to the $68.9 billion expected by analysts polled by Refinitiv. The reported $1.17 in earnings per share also exceeded the estimated mark of $1.07 per share.

The company also performed well in the digital advertising department despite the overall decline across the industry. Google Ad and YouTube Ad revenues came at $54.55 billion and $6.69 billion, respectively, versus expectations of $53.75 billion for Google and $6.64 billion for YouTube. Google Cloud revenue of $7.45 billion failed short of the $7.49 billion expected but turned a profit for the first time.

Alphabet’s earnings report also revealed that its board approved a $70 billion stock buyback and that the company had $2.6 billion in charges related to recent job cuts and office renovations.

“We are pleased with our business performance in the first quarter, with Search performing well and momentum in Cloud,” Alphabet’s CEO Sundar Pichai said in a statement. 

Alphabet’s stock closed at $103.85 per share on Tuesday before seeing a short jump to $108.45 in after-hours trading. The company’s shares are 16.53% up year-to-date.

The post Alphabet Beats Revenue and Earnings Estimates in Q1 appeared first on theprimarymarket.com.

If Samsung does choose Bing over Google, this could lead to a loss of $3 billion in annual revenue for Alphabet. While Google has historically been the market leader in the search engine space, Bing has been threatening Google’s dominance following the addition of OpenAI’s ChatGPT to provide responses to users’ queries.

Google has been working on several projects in an effort to compete with Bing and OpenAI on the artificial intelligence front. This includes a new project called Magi, which involves the addition of AI capabilities to its existing features.

According to IDC data, Samsung shipped 261 million smartphones in 2022 running Google’s Android software. In addition to its contract with Samsung, Google also has an agreement in place, which the New York Times valued at $20 billion in annual revenue.

The post Google Stocks Slide Amid Report That Samsung May Opt for Bing appeared first on theprimarymarket.com.

Alphabet shares rose almost 4% in pre-market trading following the announcement. This is the latest in a slew of major tech company layoffs, including the likes of Microsoft Corp.

Microsoft announced its decision to cut 10,000 jobs as inflation concerns have convinced the company to cut costs. It too announced its decision to rely more on AI technology.

Alphabet’s CEO Sundar Pichai wrote in a staff memo that the company is now facing a different economic landscape from when it adopted its rapid hiring strategy two years ago—a decision that Pichai said he is taking responsibility for. He went on to say that Google is looking “to share some entirely new experiences for users, developers, and businesses” before emphasizing the opportunity that lies before the company in the AI sphere.

The company has reportedly already notified affected employees within the United States, preparing to provide them with severance and six months of healthcare as well as immigration support.

The post Google Parent Company to Lay Off 12,000 Workers appeared first on theprimarymarket.com.

The investors probably liked the fact that Alphabet’s ad revenue came at $56.29 billion, beating the expected $56.14 billion. These numbers especially looked good when compared to some previously reported disastrous results, including those from Snap, causing the Alphabet stock to jump up. The company’s shares traded as high as $113.80 on Wednesday, marking a bounce back from the low point of $105.02 per share earlier this week. 

Sharing its Q2 numbers, Alphabet reported total revenue of $69.69 billion versus the $69.9 billion expected. Its adjusted earnings per share (EPS) reached $1.21, while Wall Street experts expected $1.28. Finally, traffic acquisition costs (TAC) came at $12.21 billion vs. an estimated $12.41 billion.

Among other interesting bits of info is YouTube’s poor advertisement performance. The popular video-sharing platform had just a 5% increase in ad sales and came at $7.34 billion in ad revenue versus the $7.52 billion expected. In the same period last year, YouTube had an 84% jump in ad sales.

The post Alphabet Shares Jump Despite Q2 Misses appeared first on theprimarymarket.com.

The Class A surge wasn’t here to stay as GOOGL was in for several ups and downs later in the day. At one point, the shares dipped to $111.01 before bouncing back to $111.86 and hovering around that figure for the remainder of the day.

The company’s less-active Class C stock (GOOG) also saw a slight bump, going from a split-adjusted $112.77 close on Friday to $114.80 per share at one point. It later settled at around the $112 range.

Alphabet’s GOOGL stock was at its highest in November, trading at $2996.77 per share or split-adjusted $149.83. GOOGL is currently down 23.07 percent year to date.

Alphabet made a decision to initiate a 20-1 stock split back in February. At the time, the company said that it wanted to make its shares more available to individual investors. Several other big companies announced stock splits in recent months, including e-commerce powerhouse Amazon and electric car maker Tesla. 

The post Alphabet Shares See Several Ups and Downs After Stock Split Takes Effect appeared first on theprimarymarket.com.