Overview:
The Q1 2024 earnings season for big tech remained positive, extending a run that started a year ago when inflation started to ease and AI spending accelerated. There were fears that the hype over AI was starting to look bubblish. However, these doubts have been quashed when the largest companies that are exposed to AI reported largely positive performances with bullish outlooks.
In this report, we discuss the key takeaways from the Q1 2024 earnings of large US internet companies, with a particular focus on advertising, services and cloud. These are big tech companies with the largest economic ‘moats’, and are likely to determine the future prospects of the tech industry and beyond.
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Category
Industry
Software & Services
Service
Report Type
Report
Time period
Quarterly
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Author
Yang Wang
Yang is a Senior Research Analyst at Counterpoint Research, based out of London. Yang has 10 years of work experience with particular interest in mobile devices, ecosystems, Emerging Markets, supply chain and macro topics that affect the global technology industry. As a tech analyst he has been quoted extensively by leading financial and media outlets. Yang started his career as a management trainee at Jardine Matheson, worked in business development at a SaaS startup, and most recently held marketing and research roles at KaiOS Technologies. Yang holds a Master of Science in Management from London Business School, and a Master of Science in Psychology from the University College of London.
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