Microsoft and Google parent Alphabet’s core businesses held up better than expected in the past quarter, pushing their shares higher and giving a bump to rival tech companies due to report earnings later this week. Revenues at Microsoft’s cloud division climbed 16 per cent in the first three months of 2023, a faster than expected rate that dispelled fears of a sharp slowdown in spending by their corporate clients following a boom for digital services amid Covid-19. Google’s search advertising business also topped forecasts and returned to growth, with revenue rising 2 per cent in the quarter after slipping 2 per cent in the final three months of last year. Read More...
Microsoft and Google parent Alphabet’s core businesses held up better than expected in the past quarter, pushing their shares higher and giving a bump to rival tech companies due to report earnings later this week. Revenues at Microsoft’s cloud division climbed 16 per cent in the first three months of 2023, a faster than expected rate that dispelled fears of a sharp slowdown in spending by their corporate clients following a boom for digital services amid Covid-19. Google’s search advertising business also topped forecasts and returned to growth, with revenue rising 2 per cent in the quarter after slipping 2 per cent in the final three months of last year.
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