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Alphabet, Microsoft, Spotify & Snap earnings

July 25, 2023 • Estimated Reading Time: 4 minutes

Alphabet Q2 results: revenue: $74.6B (+7% y/y), net income: $18.37B (+14.7% y/y), YouTube ad revenue: $7.67B, Cloud revenue: $8B (+28% y/y); shares were up ~6% after hours - Link

Microsoft Q4 results: revenue: $56.2B (+8% y/y), net income: $20.1B (+20% y/y), Azure revenue grew 26% y/y; shares were down ~3% after hours - Link

Spotify Q2 results: revenue: €3.18B (+11% y/y), FCF: €9M; total MAUs: 551M (+27% y/y), paid subs: 220M (+17% y/y); shares were down ~14% on the news - Link

Snap Q2 results: revenue: $1.07B (-4% y/y), net loss: $377.3M (11% smaller loss y/y), FCF: -$118.9M (19% smaller loss y/y), DAUs: 397M (+14% y/y); shares were down ~19% on the news - Link

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Ryan Smith joins Jason to discuss buying the Utah Jazz while simultaneously prepping for an IPO (3:19), Qualtrics going from IPO prep, to acquired, to spin out IPO, to a take-private in under five years (58:56), his thoughts on AI’s impact (49:12), and much more! - Link

Thales, a Paris-based company building cybersecurity and defense hardware solutions, has agreed to acquire Imperva, a US-based cybersecurity firm, from Thoma Bravo for $3.6B - Link

Bloomberg sources: Adobe’s $20B Figma acquisition will face an in-depth investigation from the EU’s antitrust regulator after the UK recently started a similar probe - Link

Sequoia cut one-third of its talent team, which helps portfolio companies recruit employees, as part of a larger restructuring of the firm - Link

Ruth Porat will step down as Google CFO and assume the role of President and CIO, overseeing the company’s “Other Bets” department - Link

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