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AI & Enterprise

Google Cloud emerges as Alphabet growth engine as quarterly revenue jumps 63 percent

Alphabet’s first-quarter revenue rose 22 percent, helped by growth in its cloud business, the Wall Street Journal reported. Revenue totaled about $110 billion, beating market expectations, and net profit climbed 81 percent to $62.6 billion. Google Cloud revenue rose 63 percent to $20 billion, and its backlog increased to $460 billion. Alphabet plans capital spending of $175 billion to $185 billion this year, nearly double its 2025 plan.

AI & Enterprise

AWS first-quarter revenue up 28 percent, fastest growth in over three years

Amazon posted first-quarter revenue of $181.5 billion, up 17 percent from a year earlier, and net profit of $30.3 billion, up 77 percent, topping market expectations, the Wall Street Journal reported. AWS revenue rose 28 percent to $37.59 billion, making up about 21 percent of total revenue. Amazon forecast second-quarter revenue of $194 billion to $199 billion and operating profit of $20 billion to $24 billion.

AI & Enterprise

Meta Reality Labs posts $4 billion operating loss in Q1; cumulative losses top $80 billion

Meta’s metaverse business continues to post losses even as the company pours large amounts of money into AI, CNBC reported on April 29. Meta said its Reality Labs unit, which develops VR and AR technology and wearable devices, posted first-quarter revenue of $402 million and an operating loss of $4.03 billion. Wall Street had expected $488.8 million in revenue and a $4.82 billion loss. Cumulative operating losses have topped $80 billion since late 2020.