Net profit slid 25% from a year earlier to $26.2bn, well short of expectations, though revenue rose to $127.6bn

Shares in the Google parent Alphabet fell double digits Wednesday evening into Thursday trading, erasing hundreds of billions of dollars in stock market value from the $4tn tech giant.

The company had reported lower-than-expected profit and a slowdown in its advertising business while it maintained big spending on AI.

Software giant reports $36.6bn in profit, beating Wall Street expectations, as Azure cloud computing division grows 48%

Microsoft gained billions of dollars in stock market value Wednesday afternoon after it reported better than expected revenue and profit, just days after it offered voluntary buyouts to some 60,000 employees.

The office software giant’s growth was fueled by its Azure cloud computing division, which grew by 48% in the September quarter.

Software giant reports $36.6bn in profit, beating Wall Street expectations, as Azure cloud computing division grows 48%

Microsoft gained billions of dollars in stock market value Wednesday afternoon after it reported better than expected revenue and profit, just days after it offered voluntary buyouts to some 60,000 employees.

The office software giant’s growth was fueled by its Azure cloud computing division, which grew by 48% in the September quarter.