autotldr@lemmings.world
on 25 Oct 2023 00:05
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This is the best summary I could come up with:
Oct 23 (Reuters) - U.S. technology giants are likely to post their strongest quarterly revenue growth in at least a year as their legacy businesses stabilized, but investors looking for signs of a boost from artificial intelligence (AI) may be disappointed.
Microsoft (MSFT.O), Google-parent Alphabet (GOOGL.O), Facebook-parent Meta Platforms (META.O) and Amazon (AMZN.O) are expected to have built on the recovery in their enterprise software and digital ads businesses as professional and consumer spending stayed resilient despite an uncertain global economy.
The quartet’s shares have rallied – between Microsoft’s 36% and Meta’s 157% – this year, boosting their combined market value to over $6 trillion and lifting the benchmark S&P 500 index (.SPX).
RBC Capital Market estimates Microsoft will clock over $3 billion in revenue from generative AI offerings this fiscal.
On Tuesday, Microsoft is likely to report a nearly 9% rise in first-quarter revenue, according to LSEG data, driven by strength in its enterprise productivity software business.
But cloud computing growth for all the companies is expected to show little improvement as clients look for ways to optimize their infrastructure costs.
The original article contains 578 words, the summary contains 182 words. Saved 69%. I’m a bot and I’m open source!
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This is the best summary I could come up with:
Oct 23 (Reuters) - U.S. technology giants are likely to post their strongest quarterly revenue growth in at least a year as their legacy businesses stabilized, but investors looking for signs of a boost from artificial intelligence (AI) may be disappointed.
Microsoft (MSFT.O), Google-parent Alphabet (GOOGL.O), Facebook-parent Meta Platforms (META.O) and Amazon (AMZN.O) are expected to have built on the recovery in their enterprise software and digital ads businesses as professional and consumer spending stayed resilient despite an uncertain global economy.
The quartet’s shares have rallied – between Microsoft’s 36% and Meta’s 157% – this year, boosting their combined market value to over $6 trillion and lifting the benchmark S&P 500 index (.SPX).
RBC Capital Market estimates Microsoft will clock over $3 billion in revenue from generative AI offerings this fiscal.
On Tuesday, Microsoft is likely to report a nearly 9% rise in first-quarter revenue, according to LSEG data, driven by strength in its enterprise productivity software business.
But cloud computing growth for all the companies is expected to show little improvement as clients look for ways to optimize their infrastructure costs.
The original article contains 578 words, the summary contains 182 words. Saved 69%. I’m a bot and I’m open source!