Shares of Google-parent Alphabet were rising after the big technology firm reported better-than-expected earnings and announced an additional $70 billion in stock buybacks. Alphabet said first-quarter earnings were $1.17 a share, compared to the consensus estimate of $1.08, according to FactSet. The company said its board had expanded its share repurchase program by up to $70 billion. Read More...
Reuters
Microsoft earnings, revenue top forecasts, shares jump 4.6%
(Reuters) -Microsoft Corp beat Wall Street’s estimates for third-quarter revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses. Shares gained 4.6% in after-market trading following a report by Redmond, Washington-based Microsoft that profits were $2.45 per share, beating Wall Street estimates of $2.23, according to data from Refinitiv and up 10% from the same quarter last year. Revenue rose 7% to $52.9 billion in the quarter ended March, inching past the average analyst estimate of $51.02 billion, according to Refinitiv.
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