PYMNTS.com April 25, 2024
Come for the comments about AI. Stay for the earnings call. That will most likely be the pattern of big tech earnings over the next two weeks as companies prioritize technology over financial reporting.
It was the case when Meta reported Wednesday (April 24). And it was the case for Alphabet when it reported its Q1 earnings on Thursday (April 25).
By the numbers, the company rode its traditional revenue drivers of search, cloud and YouTube to an operating income jump of 46% year over year, to $25.47 billion.
But after Meta stock got hit with investors frustrated over the company’s $30 billion-plus price tag for artificial intelligence (AI) development, Alphabet’s navigation of that issue was expected to be on...
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