Overview:
The Q4 2023 tech earnings season continued a positive trend from the previous quarter, as macroeconomic fundamentals improved further, while tech spending, especially on AI, accelerated.
The excitement around AI reached a fever pitch, as consumer-facing AI tools such as OpenAI’s ChatGPT and Microsoft’s Copilot matured significantly over the course of the quarter, with almost all tech companies expected to be working on their AI roadmaps.
In this report, we discuss the key takeaways from large US internet companies’ Q4 2023 earnings, with a particular focus on advertising and cloud, which both happen to be segments that dipped materially during 2023 but found strong momentum heading into 2024.
Table of Contents
- Introduction
- Advertising – Encouraging trends overall, with AI adding to gains
- Cloud – Success all around, AWS & Google turning the corner
Number of Pages: 7
Publication Date: March 2024