By Connor Hart
Google parent Alphabet reported first-quarter operating income of $30.6 billion, topping Wall Street's forecast of $28.7 billion. Revenue rose across the company's business units and was largely in line with analyst estimates. Capital expenditures reached a record $17.2 billion on continued investments on artificial intelligence. The stronger bottom line shows Google's resilience in a quarter that was marked by fears of an impending trade war. Shares rise 4.9%, to $167.19, in after-hours trading.
Intel widened its first-quarter loss and gave a weak revenue outlook. The beleaguered chip maker plans to cull costs this year by limited capital expenditures and operating expenses such as marketing and R&D. New Chief Executive Lip-Bu Tan said in a letter to employees that layoffs would start this quarter and continue over several months, though he didn't quantify how many employees would be affected. Shares fall 5.1%, to $20.40, in postmarket trading.
AppFolio reported a drop in first-quarter earnings and sales that missed Wall Street's expectations. The company, which offers software-as-a-service applications to the real-estate industry, posted adjusted earnings of $1.21 a share on revenue of $217.7 million, compared with analyst views for adjusted earnings of $1.22 a share on revenue of $220.4 million. Shares sink 7.1%, to $218, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 24, 2025 19:39 ET (23:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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