Among the "Magnificent Seven" US tech stocks that have reported earnings, only Alphabet saw a post-market rise
Odaily Odaily reports: As four of the "Magnificent Seven" US tech giants released their earnings reports after the market close, only Alphabet (GOOGL.O) seemed to perform well enough to appease investors. Alphabet's fiscal first-quarter revenue rose 22%, reaching nearly $110 billion, surpassing analysts' expectations. Net profit was $62.6 billion, a year-over-year increase of 81%. Additionally, the company's fiscal 2025 sales reached a record $403 billion, with profits of approximately $132 billion. After exceeding earnings expectations, Alphabet's stock price rose 3.9%. Unsurprisingly, CEO Sundar Pichai attributed much of the company's growth to its underlying AI investments. Amazon, Meta Platforms, and Microsoft also reported strong growth, but their stock prices fell, with Meta declining over 5%. Meta's sales guidance was in line with expectations, and it also raised its capital expenditure plans for this year, reflecting higher component prices and, to a lesser extent, additional data center costs.
