U.S. tech companies announce quarterly earnings

A flurry of U.S technology companies have recently reported quarterly earnings. Tech giant Alphabet, the parent company of Google, reported quarterly sales and profit that missed analyst expectations. Google’s revenue climbed 23% year-over-year to $68 billion, growing at a slower pace than expected. Company executives said YouTube revenue suffered from TikTok competition and Google’s decision to halt operations in Russia.

Meanwhile, Microsoft earnings were stronger than many analysts expected, buoyed by 26% growth in its Microsoft Azure cloud service. Shares of Meta, the parent company of Facebook, jumped on a strong quarterly report that redeemed February’s lackluster results.