Microsoft,Google(parent company Alphabet's) released their quarterly financial reports ending March 31, 2024, respectively.ChatGPTThanks to the positive impact of generative AI, both companies achieved substantial growth.
Data shows thatMicrosoft's revenue increased by 17% year-on-year to $61.9 billion, exceeding Wall Street analysts' expectations, and its net profit increased by 20% to $21.9 billion.Diluted earnings per share were $2.94, up 3.3% from 20%
This is mainly due to the close cooperation with OpenAI, the parent company of ChatGPT. For example, with the help of Copilot, Office 365's commercial revenue increased by 15%; Microsoft's Azure cloud service also achieved a growth of 31%, of which AI services contributed 7%.
In Microsoft'sFinancial ReportAI was mentioned more than 50 times during the call, emphasizing its importance to the company’s overall strategy..
Since integrating OpenAI's GPT series of models, Microsoft's search engine Bing has seen a significant increase in downloads and usage, and currently has more than 100 million daily users.
Microsoft's stock price rose 3.84% after the company released its earnings report.
Googleup to dateThe financial report shows that revenue increased by 151% year-on-year to US$80.5 billion, and profits soared by 571% year-on-year to US$23.7 billion.
Google Cloud's cloud business revenue increased by 28% to US$9.57 billion, and operating income increased by more than 4 times to US$900 million. Generative AI and large model customization played an important role in this.
In its earnings call, Google also repeatedly emphasized the importance of generative AI to its business development..
Google CEO Sundar Pichai highlighted the contribution of Google Cloud, which is now gaining popularity in various regions through its generative AI services offered through its Gemini series of models.
Google CFO Ruth Porat noted that the Google Cloud division generated $9.6 billion in revenue, with generative AI playing an increasingly important role in that growth.
After Google released its financial report, its stock price rose by 11.51%.
Metaup to dateThe financial report shows that revenue increased by 27% year-on-year to US$36.4 billion, but net profit decreased by 24% year-on-year.
Meta said in its financial report plan that it would increase spending on AI, and expected to invest between $3.5 billion and $40 billion in 2024, up from the previous $3 billion to $37 billion.
Zuckerberg, co-founder and CEO of Meta, emphasized thatThe release of the new version of Meta AI and Llama-3 is a step towards buildingWorld LeadingAI applications and big models have taken a key step forward, and continues to make steady progress in developing its virtual universe.
Meta will continue to increase its investment in the field of AI for a long time in the future. However, since Meta's investment in AI may not be realized as quickly as Google and Microsoft in the short term, Meta's stock price fell by about 10% after the financial report was released.