Tech Advances After Strong Microsoft, Alphabet Earnings -- Tech Roundup

Dow Jones04-27

Shares of technology companies rose after strong earnings.

Microsoft shares rallied, testing all-time highs, after the software behemoth posted accelerated revenue growth from its artificial-intelligence business line.

Alphabet shares surged after the Google owner posted better-than-anticipated earnings from its YouTube, cloud-computing and core advertising units.

Tesla shares slipped after the National Highway Traffic Safety Administration revealed its examination of Tesla's Autopilot, a driver-assist system that automates some driving tasks, uncovered a trend of "avoidable crashes involving hazards that would have been visible to an attentive driver."

Intel fell 9.2% after the chip maker posted first-quarter revenue short of analysts' expectations.

China's ByteDance said it won't sell its U.S. TikTok, despite the legislation signed by President Biden designed to force a sale or ban on the video-streaming platform.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

April 26, 2024 17:32 ET (21:32 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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