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Microsoft And Alphabet: Good Enough?
Microsoft and Alphabet delivered what looked to be decent results after the bell in the US on Tuesday. Whether the numbers were good enough to satisfy a market that always wants more from the mega-caps is another story entirely.
At Microsoft, total revenue of $62.02 billion was a beat. Consensus wanted $61.14 billion. EPS of $2.93 likewise topped estimates.
Top-line growth of 18% (16% excluding the currency impact) was the strongest since the March 2022 quarter.
This marked the second strai
By my count, through yesterday 29% of the S&P 500 has reported 4Q. Of the reporters, 67% beat revenue and 74% beat EPS, 45% had 1Q24 consensus revenue estimate go up, 38% had 1Q24 cons EPS est go up. That is by name; by market cap, the numbers are similar.
The pullbacks in Big Tech look mild. -1% on MSFT, -6% on GOOG, -4% on AMD, none threaten support levels. The AI dream lives.