"Alphabet reported a Q1 EPS of $5.11, significantly beating expectations of $2.63, with Google Cloud revenue increasing by 63% and backlog nearly doubling to $460 billion."
"Amazon's AWS growth reached 28%, the fastest in 15 quarters, resulting in a roughly 3% increase in shares before the market opened."
"Microsoft reported a strong EPS and noted its AI business is on a $37 billion annual run rate, up 123% year-over-year, although shares slipped about 2% due to softer revenue guidance."
"Meta Platforms saw a 9% decline in pre-market trading after raising its 2026 capex guidance and reporting a $4.03 billion operating loss in Reality Labs."
The markets are experiencing a 0.50% increase, driven by positive earnings from major tech firms and a drop in oil prices. A key inflation gauge rose 0.7% in March, pushing the annual rate to 3.5%, which is above the Fed's target. Q1 GDP growth was 2%, slightly below expectations. Major tech companies like Alphabet and Amazon reported strong earnings, while Microsoft saw growth in its AI business. Meta Platforms faced challenges, leading to a decline in its stock price.
Read at 24/7 Wall St.
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