Google, Microsoft top expectations as AI rivalry heats up

Alphabet, Google’s parent company, reported Q1 2023 net profit of $15bn, beating market expectations, and recording revenue of almost $70bn, a billion higher than predicted. Although Alphabet has recently had to deal with a slowdown in advertising, it appears to be regaining ground. The same quarter where it laid off 12k employees, the tech giant’s share price has made a steady recovery since the cuts were announced in January. Meanwhile, Microsoft also pleased investors with Q1 results showing the popularity of its business cloud products, even as Windows software sales declined.