Alphabet (GOOG)
Alphabet’s revenue rose 15% in the first quarter as Google’s parent company announced a first-ever dividend of 20 cents a share, along with a $70bn (£56bn) share buyback.
Google reported first-quarter 2024 revenue of $80.5 billion and earnings per share of $1.17 to $1.89, beating analyst expectations on both counts.
The company also announced an initial dividend of $0.20 per share and said payments would be quarterly.
“Our Leadership in AI [artificial intelligence] With our research and infrastructure, and our global product footprint, we are well-positioned for the next wave of AI innovation,” CEO Sundar Pichai said in the earnings call.
Alphabet’s stock rose about 15% in premarket trading. This increase has pushed Alphabet’s market capitalization to more than $2 trillion.
Intel’s first-quarter results on Thursday showed earnings per share that exceeded Wall Street’s expectations, but the company’s second-quarter outlook fell short of Wall Street’s expectations, causing the stock to fall.
In the first quarter, Intel reported a net loss of $400 million, or 9 cents per share. In comparison, last year’s net loss was $2.8 billion, or 66 cents per share.
Revenue was $12.7 billion compared to $11.7 billion in the same period last year, an increase of 9% year-over-year.
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Intel said it expects second-quarter revenue to be between $12.5 billion and $13.5 billion. Analysts were expecting $13.63 billion for the next quarter. “We delivered a solid quarter as we made steady progress on our priorities,” CEO Pat Gelsinger said.
Microsoft (MSFT)
Microsoft’s big bet on AI appears to be paying off, as the world’s largest public company reported $61.86 billion in revenue last quarter.
Total revenue for the fiscal third quarter, the first three months of 2024, rose 17% to $61.86 billion, beating analysts’ expectations of about $60.88 billion. Earnings per share rose 20% to $2.94, beating expectations of $2.83.
“Microsoft’s AI revenue shows that doubling down on innovation is paying off,” Jeremy Goldman, senior director of briefings at Emarketer, told Reuters. He pointed to the company’s early moves in generative AI, including investments.
Revenue from Microsoft’s cloud division, which includes its Azure computing platform and is its biggest revenue driver, rose 21% to $26.7 billion in the quarter, compared with analysts’ expectations for the company of more than $26.2 billion. became.
Amazon (AMZN)
Amazon is rising in pre-market trading following strong quarters from giant-stock peers Microsoft and Alphabet.
Amazon is scheduled to announce its first quarter results after the U.S. market closes on April 30th. The company is expected to report earnings of 83 cents per share on revenue of $142.495 billion, according to Benzinga Pro estimates.
This comes after the Federal Trade Commission reportedly asked a judge to reveal what the encrypted messaging app Signal communicates to company executives about sensitive topics and the storage of information. Investors need to pay close attention to stock price fluctuations. The new court filing says it includes documents related to antitrust issues.
read more: UK consumer confidence rises amid personal finance optimism
The FTC filed a lawsuit against Amazon in September, accusing the company of illegally maintaining a monopoly and artificially inflating prices for consumers.
Anglo American (AAL.L)
British mining giant Anglo American has rejected a £31.1 billion takeover offer from Australian rival BHP (BHP.L).
The FTSE 100 miner said the bid was “opportunistic” and “significantly undervalues Anglo American and its prospects”.
A unilateral approach from BHP would involve a structure that would be “very unattractive” to Anglo shareholders “given the uncertainty and complexity inherent in the proposal and the significant execution risks”, the board said. Stated.
The bid will see BHP pay £25.08 for each Anglo American share, which will also include shares in Anglo subsidiaries Anglo Platinum and Kumba Iron Orea.
The deal is conditional on Anglo transferring all of its shares in both businesses to shareholders.
The board of directors announced that it had unanimously rejected the proposal.
Anglo shares soared 16.1% on Thursday after news of the bid emerged, valuing the miner at £31.4bn, more than the offer from BHP.
Video: Alphabet’s dividend is an ‘olive branch for investors’: Analyst
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