Alphabet dips, Microsoft jumps
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 25 October 2023
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Wednesday, October 25th, and I'm your host Julie Morgan. |
| 0:12.0 | Alphabet's Cloud revenue disappoints. |
| 0:14.8 | Microsoft tops Q1 expectations, |
| 0:17.7 | and UFC chooses a new beer sponsor. |
| 0:21.4 | Alphabet is down 6% in pre-market action despite the company beating earnings expectations on top and bottom lines with its best revenue growth in 5 quarters. Revenue grew 11% to 7.7.69 billion dollars. |
| 0:36.7 | Revenue also gained 11% in constant currency. |
| 0:40.4 | But revenue in Google's Cloud unit did not grow as fast as expected. |
| 0:45.0 | The company's only segment that did not beat Street Consensus. |
| 0:48.9 | Operating income jumped to 21.34 billion dollars from a year ago at $17.14 billion. |
| 0:56.3 | And net income jumped to $19.69 billion from a year ago at $13.91 billion. Earnings per share of $1.55 |
| 1:05.0 | since easily top consensus for $1.45. |
| 1:09.4 | Alphabet CEO said he was pleased with their financial results and product momentum this quarter and |
| 1:15.2 | said they're continuing to focus on making AI more helpful for everyone. |
| 1:19.8 | He went on to say that there is exciting progress and lots more to come. |
| 1:24.3 | Alphabet also said it was taking action to optimize its office space worldwide. |
| 1:30.7 | Microsoft is up more than 3% pre-market after the Tech Giant posted fiscal first quarter results that topped expectations aided by strong growth in its Azure Cloud. |
| 1:42.0 | For the period ending September 30th, |
| 1:44.4 | Microsoft earned $2.99 per share |
| 1:47.8 | on 56.52 billion dollars in revenue. |
| 1:51.2 | Microsoft generated $24.26 billion in revenue. Microsoft generated 24.26 billion dollars in revenue from its |
| 1:55.6 | intelligent cloud units and 18.59 billion from its productivity unit. The |
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