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AP

The tech sector saw mixed results as key companies Alphabet (aka Google), Intel, Microsoft and Amazon all reported earnings on Thursday. While all topped profit estimates, Intel and Microsoft saw revenue come in short of some expectations, sending shares of those two companies lower.

  • Intel posted revenue that fell just short of estimates, with particular weakness in its data center business, per Reuters. Per-share earnings of 66 cents, excluding items, topped estimates by a penny but shares fell three percent in after-hours trading.
  • Microsoft's earnings topped estimates, but sales narrowly missed expectations, sending the stock lower in after-hours trading. It earned 73 percents per share, excluding items, above consensus expectations of 70 cents. Adjusted revenue was $23.56 billion, just shy of the $23.62 billion projected by analysts.
  • Amazon raked in $35.7 billion in sales this past quarter, beating analyst expectations and up 23% since the year-ago quarter, the company said on Thursday in its latest earnings report. It also touted its nine-month-old business in India, where product selection for its Prime membership service has grown 75% since launch.
  • Google's parent company Alphabet beat expectations with $24.75 billion in revenue, up 22% from the year-ago quarter. Google ad revenues increased by nearly 19%, despite the advertiser backlash against the company's biggest display ad driver, YouTube. Smart home tech company Nest, internet company Google Fiber and self-driving car company Waymo, also made revenue gains.

Go deeper

32 mins ago - Politics & Policy

Scoop: Biden plan expected to include at least $500B for climate

Photo: Stephanie Keith/Bloomberg via Getty Images

The White House is privately telling lawmakers the climate portion of President Biden's roughly $2 trillion social spending plan is "mostly settled" and will likely cost more than $500 billion, two sources familiar with the talks tell Axios.

Why it matters: A pricetag of $500-555 billion is a huge number and, if it holds, would likely be the single biggest component of the sweeping package. It also isn't far off from the roughly $600 billion proposed when the bill was expected to cost $3.5 trillion.

39 mins ago - World

U.S. presses Gulf countries to help resolve Sudan coup crisis

Jake Sullivan briefs the press. Photo: Chip Somodevilla/Getty

The Biden administration has asked its partners in the Gulf and elsewhere to press the Sudanese generals who carried out a coup on Monday to release captives including Prime Minister Abdallah Hamdok and to reinstate the civilian government, White House National Security Adviser Jake Sullivan said in a press briefing on Tuesday.

Why it matters: The U.S. has limited influence over coup leader Gen. Abdul Fattah al-Burhan and other military leaders, many of whom have close ties to Saudi Arabia and the United Arab Emirates.

Higher prices are the new norm, with no end in sight

Illustration: Aïda Amer/Axios

Companies are making money at record rates thanks in part to customers who are willing to pay higher prices.

Why it matters: In order to keeping that corporate profitability streak going, shoppers should expect sticker prices to stay high or become more expensive well into 2022. Fewer promotions and shallower discounts will also become the norm as inventory levels remain low.