Shares of technology companies sank Tuesday ahead of earnings from sector giants.
After the closing bell, Microsoft shares jumped 5% in after-hours trading after the software giant reported better profit and revenue than expected and the Azure cloud-computing platform grew faster than analysts' projections.
Google-parent Alphabet reported quarterly results that slightly topped analysts' revenue and earnings estimates. Alphabet also said its board of directors authorized $70 billion in share repurchases.
Meanwhile, U.S. law-enforcement officials said Tuesday they are resolved to combat discrimination and bias arising from the use of artificial intelligence in areas such as lending, housing and hiring, as growing adoption of automated systems such as ChatGPT gains attention from Washington.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
04-25-23 1708ET
