Tech Giants Slide in Late Trading After Earnings: Markets Wrap
- Alphabet slumps as its search revenue misses estimates
- Microsoft’s cloud growth disappoints some; revenue beats
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A $245 billion exchange-traded fund tracking the Nasdaq 100 dropped in late hours, with traders weighing results from two of the tech giants that have powered the rally in stocks amid the artificial-intelligence frenzy.
Alphabet Inc. sank after reporting revenue from its core search advertising business that fell short of estimates, overshadowing an otherwise strong end to the year. Microsoft Corp.’s cloud growth disappointed some on Wall Street — even as the company posted its strongest revenue growth since 2022.