Microsoft profits surge on AI as Snap up 27% and Meta stock takes hit
8 months, 2 weeks ago

Microsoft profits surge on AI as Snap up 27% and Meta stock takes hit

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Thursday’s quarterly financial announcements from big tech firms were a mixed bag, with Microsoft reporting surging revenues that beat analyst estimates on the back of strong investment in artificial intelligence capabilities, while Meta’s stock has taken a hit after it announced costly AI investments of its own earlier this week. The Washington-based tech firm reported revenues were up 17 per cent year-over-year to $61.9bn this quarter, with net income up 20 per cent and AI helping drive a 31 per cent increase in demand this quarter for its Azure cloud services. Shares of Snap, the company behind Snapchat, soared as much as 27 per cent on Thursday in extended trading, after the firm announced a 21 per cent year-over-year increase in revenue, beating market expectations. Things were similarly upbeat at Google parent company Alphabet, which reported revenues this quarter were up 15 per cent to $80.5bn compared to this period last year.

Tech Microsoft Company Revenue Cent Quarter Ai Meta Indytech  tech  announced  company  ai  sign  hit  quarter  snap  microsoft  meta  revenues  profits  27  cent  takes  stock  revenue  surge  newsletter

History of this topic

Microsoft reports Q1 results with revenue up 16%
2 months, 1 week ago

Microsoft reports Q1 results with revenue up 16%

China Daily  

A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, Jan 25, 2021. SAN FRANCISCO -- Microsoft on Wednesday posted a revenue of $65.6 billion for the first quarter of its 2025 fiscal year ending Sept 30, 2024, up 16 percent from the same period of the previous year. Its operating …

Microsoft reports Q1 results with revenue up 16%
2 months, 1 week ago

Microsoft reports Q1 results with revenue up 16%

China Daily  

Xinhua | Updated: 2024-10-31 10:04 A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, Jan 25, 2021. SAN FRANCISCO -- Microsoft on Wednesday posted a revenue of $65.6 billion for the first quarter of its 2025 fiscal year ending Sept 30, 2024, up 16 percent from the same period of …

Intel to cut more than 15% of workforce as it cuts costs to try to turn chip business around
5 months, 1 week ago

Intel to cut more than 15% of workforce as it cuts costs to try to turn chip business around

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chipmaker Intel Corp. is cutting …

Microsoft’s cloud business powers 10% growth in quarterly profits
5 months, 1 week ago

Microsoft’s cloud business powers 10% growth in quarterly profits

Associated Press  

REDMOND, Wash. — Microsoft reported a 10% increase in quarterly profits Tuesday as it tries to maintain its position as a leader in artificial intelligence technology. Microsoft’s growth was led by its cloud computing business, where quarterly revenue rose 19% to $28.5 billion. The Redmond, Washington-based company doesn’t report revenue specifically from AI products but says it has infused the …

Get ready for more AI mania this earnings season
5 months, 4 weeks ago

Get ready for more AI mania this earnings season

Live Mint  

Artificial intelligence is about to be the undisputed star of yet another earnings season. This would make it the best quarter for earnings growth since the January-to-March period of 2022, confirming that companies have left behind the period when inflation eroded profit margins. In the second quarter, S&P 500 firms that should benefit directly from the technology are expected to …

Microsoft will invest $1.7 billion in AI and cloud infrastructure in Indonesia
8 months, 1 week ago

Microsoft will invest $1.7 billion in AI and cloud infrastructure in Indonesia

Associated Press  

JAKARTA, Indonesia — Microsoft will invest $1.7 billion over the next four years in new cloud and artificial intelligence infrastructure in Indonesia — the single largest investment in Microsoft’s 29-year history in the country — Microsoft CEO Satya Nadella said Tuesday. A study held by Kearney, a global consulting firm, said that AI could contribute nearly $1 trillion to Southeast …

Google stock surges as tech giant announces first cash dividend for investors
8 months, 2 weeks ago

Google stock surges as tech giant announces first cash dividend for investors

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The stock price of Alphabet surged about 16 per cent on Thursday after …

Microsoft quarterly profit rises 20% as tech giant pushes to get customers using AI products
8 months, 2 weeks ago

Microsoft quarterly profit rises 20% as tech giant pushes to get customers using AI products

Associated Press  

Microsoft on Thursday said its profit rose 20% for the January-March quarter as it tries to position itself as a leader in applying artificial intelligence technology to make workplaces more productive. Quarterly revenue from Microsoft’s cloud computing business segment grew to $26.7 billion, up 21% from last year’s January-March quarter. Gartner analyst Jason Wong said many of Microsoft’s customers have …

AI companies lose $190 billion in market cap after Alphabet and Microsoft report
11 months, 1 week ago

AI companies lose $190 billion in market cap after Alphabet and Microsoft report

The Hindu  

AI-related companies lost $190 billion in stock market value late on Tuesday after Microsoft, Alphabet and Advanced Micro Devices delivered quarterly results that failed to impress investors who had sent their stocks soaring. The selloff following the tech giants' reports after the bell underscored investors' elevated expectations following an AI-fueled stock market rally in recent months that propelled their shares …

Microsoft profit soars 33% on AI, cloud-computing investments
11 months, 1 week ago

Microsoft profit soars 33% on AI, cloud-computing investments

Associated Press  

SAN FRANCISCO — Microsoft Corp. said Tuesday that its profit for the October-December quarter soared 33%, powered by its significant investments in artificial intelligence technology. Analysts polled by FactSet Research expected Microsoft to generate revenue of $61.14 billion, and currently project revenue of $60.97 billion for the January-March quarter. Microsoft’s cloud-focused business segment outgrew its other divisions, with revenue expanding …

Investors see Microsoft's stock market value leaving Apple behind
11 months, 1 week ago

Investors see Microsoft's stock market value leaving Apple behind

The Hindu  

Microsoft's early lead in artificial intelligence has the software heavyweight's stock market value poised to pull decisively ahead of Apple's over the next five years, 13 institutional investors unanimously agreed ahead of the tech titans' quarterly results this week. Microsoft's shares have surged 7% so far in 2024, recently sending its stock market value above $3 trillion and dethroning Apple …

Microsoft reports $20.1B quarterly profit as it promises to lead ‘the new AI platform shift’
1 year, 5 months ago

Microsoft reports $20.1B quarterly profit as it promises to lead ‘the new AI platform shift’

Associated Press  

Microsoft reported a 20% spike in quarterly profits Tuesday, helping to fuel its battle to get ahead of rivals like Google, Amazon and Facebook parent Meta in selling the latest artificial intelligence technology. Macquarie analyst Sarah Hindlian-Bowler said investors have been focused on Microsoft’s early revenue from those artificial intelligence investments, the performance of the Azure cloud computing platform and …

Microsoft notches record high valuation of nearly $2.6 trillion
1 year, 6 months ago

Microsoft notches record high valuation of nearly $2.6 trillion

The Hindu  

Microsoft Corp. shares rose to a new record high close on Thursday as market optimism about the prospects of artificial intelligence has helped buoy the technology giant to a record market capitalisation of $2.59 trillion. Microsoft is seen as a leader in the adoption of AI technology in the software industry owing to its huge investment in OpenAI, the San …

Microsoft will not give employees salary raise this year
1 year, 7 months ago

Microsoft will not give employees salary raise this year

The Hindu  

Microsoft Corp. will not raise salaries for full-time employees this year and is reducing budget for bonuses and stock awards, Insider reported on Wednesday, citing an internal email by CEO Satya Nadella. "Last year, we made a significant investment in compensation driven by market conditions and company performance, nearly doubling our global merit budget.this year the economic conditions are very …

Microsoft, amid layoffs, says quarterly profit declined 12%
1 year, 11 months ago

Microsoft, amid layoffs, says quarterly profit declined 12%

Associated Press  

REDMOND, Wash. — Microsoft on Tuesday reported a 12% drop in profit for the October-December quarter, reflecting the economic uncertainty it said led to its decision to cut 10,000 workers. Microsoft’s personal computing business, centered on its Windows software, was widely expected to continue a deterioration that began earlier last year due to economic uncertainties and crimped demand. Market research …

Microsoft profits down 14% as Windows hit by weak PC sales
2 years, 2 months ago

Microsoft profits down 14% as Windows hit by weak PC sales

Associated Press  

Microsoft on Tuesday reported a 14% drop in profit for the July-September quarter compared to the same time last year, reflecting a weak market for personal computers affecting its Windows business. The company reported quarterly net income of $17.6 billion, or $2.35 per share, which still slightly beat Wall Street expectations despite undershooting last year’s results. Worldwide shipments of personal …

Microsoft revenue forecast under threat from PC market slump, mighty dollar
2 years, 2 months ago

Microsoft revenue forecast under threat from PC market slump, mighty dollar

The Hindu  

Microsoft Corp. is set to post its slowest quarterly revenue growth in over five years on Tuesday, with some analysts casting doubts whether the company can maintain its annual outlook in the face of a PC market slowdown and a strong dollar. "All eyes will be on Microsoft's ability to maintain FY23 guidance for reported double-digit revenue growth, which we …

Microsoft soothes market fears with forecast for strong revenue growth
2 years, 5 months ago

Microsoft soothes market fears with forecast for strong revenue growth

The Hindu  

Microsoft Corp on Tuesday forecast revenue this fiscal year would grow by double digits, driven by demand for cloud computing services, and sending shares up 5%. “Microsoft is extraordinarily well positioned because of the range of businesses it has and the critical role their software and computing services play for organisations.” Despite the positive forecast for the fiscal year starting …

Microsoft blames economic woes for missing profit targets
2 years, 5 months ago

Microsoft blames economic woes for missing profit targets

Associated Press  

REDMOND, Wash. — Microsoft on Tuesday reported fiscal fourth-quarter profit of $16.7 billion, or $2.23 per share, falling short of analyst expectations for $2.29 per share — a rare disappointment from the tech giant that has consistently beat Wall Street expectations in recent years. The company blamed a number of “evolving macroeconomic conditions and other unforeseen items” for affecting its …

Intel forecasts gloomy quarter on supply-chain woes, shares fall
2 years, 8 months ago

Intel forecasts gloomy quarter on supply-chain woes, shares fall

The Hindu  

Chipmaker Intel Corp forecast second-quarter revenue and profit below Wall Street expectations on Thursday on worries of weak demand in its largest end market, PCs, and increased supply-chain uncertainty due to COVID-19 lockdowns in China. Revenue at Intel's Client Computing Group, which supplies PC makers and is the largest contributor to the company's revenue, fell 13% to $9.3 billion in …

Microsoft forecasts double-digit revenue growth on cloud strength
2 years, 8 months ago

Microsoft forecasts double-digit revenue growth on cloud strength

The Hindu  

Microsoft Corp on Tuesday forecast double-digit revenue growth for the next fiscal year, driven by demand for cloud computing services, and its shares jumped about 4%. Microsoft forecast Intelligent Cloud revenue of $21.1 billion to $21.35 billion for its fiscal fourth quarter, driven by strong growth in its Azure platform. there’s still plenty of upside.” Microsoft on Tuesday reported profit …

Microsoft profits soar as cloud demand continues in pandemic
3 years, 8 months ago

Microsoft profits soar as cloud demand continues in pandemic

Associated Press  

Microsoft’s profits soared during the first three months of 2021, thanks to ongoing demand for its software and cloud computing services during the pandemic. Revenue from Microsoft’s productivity segment, which includes its Office suite of workplace products such as email, grew by 15% over the same time last year, to $13.6 billion. Microsoft’s personal computing business segment grew by 19% …

Cloud growth helps Microsoft beat Wall Street expectations
4 years, 2 months ago

Cloud growth helps Microsoft beat Wall Street expectations

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Strong results from Facebook, Microsoft offer glimmer of hope
4 years, 8 months ago

Strong results from Facebook, Microsoft offer glimmer of hope

Live Mint  

Results of global tech majors beat analyst and street estimates amid the coronavirus-induced global economic slump. Facebook Inc. beat analysts’ estimates for quarterly revenue and said it has seen “signs of stability” for sales in April after a plunge in March. Facebook said advertising revenue was roughly flat in the first three weeks of April compared with the same period …

Intel beats third-quarter revenue and profit estimates, raises full-year revenue forecast
5 years, 2 months ago

Intel beats third-quarter revenue and profit estimates, raises full-year revenue forecast

Firstpost  

Intel Chief Executive Officer Bob Swan has set a goal of becoming more disciplined about spending. Intel Corp on Thursday beat Wall Street estimates for third-quarter revenue and profit and raised its full-year revenue forecast, easing concerns about slowing chip demand amid the U.S.-China trade war. After years of acquisitions outside its core area of processing chips under previous leaders, …

Microsoft profits and revenue rises; 23 percent gain in share prices
5 years, 8 months ago

Microsoft profits and revenue rises; 23 percent gain in share prices

Firstpost  

Microsoft beat estimates for quarterly profit and revenue with shares touching a record high of $125.85 during regular trading hours. Microsoft Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, powered by adoption of its Azure cloud computing service and the subscription version of its Office software. Microsoft’s so-called “intelligent cloud” unit, which contains its Azure services, …

Discover Related