Strong ad sales, stable enterprise spending wind beneath Big Tech earnings

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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...

- 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 may be disappointed.

While enterprise demand stabilized for legacy products, that has not extended to cloud computing, the mainstay for Microsoft and Amazon. The duo likely just barely budged off their previous quarter's record-low cloud growth rates. "It's probably not going to be material to revenue until 2025 because enterprises are still figuring out their generative AI strategy," RBC analyst Rishi Jaluria said.

Meta is expected to report its quarterly revenue increased by more than a fifth, the most in two years, and lay out its AI plans, after unveiling a series of AI ad tools last month. Amazon, however, is expected to be shielded by strong retail sales, thanks to a strong labor market. The e-commerce giant is projected to post an 11.3% rise in revenue on Thursday.

 

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