FT News Briefing
US companies endure tariff whiplash
Feb 5, 2025
Alphabet’s cloud services disappoint as U.S. companies face turmoil due to turbulent tariffs, forcing them to rethink supply chains. China retaliates, impacting tech giants like Google and Nvidia. Meanwhile, India is set for a remarkable IPO year, attracting domestic investors despite a slowing economy. The dynamics of U.S. trade relations complicate the landscape, with opportunities emerging against a backdrop of rising valuations and economic challenges.
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Quick takeaways
- Alphabet's disappointing earnings reflect ongoing challenges in the tech sector, particularly with increased scrutiny on cloud services competition.
- U.S. companies are urgently adapting their supply chains and investment strategies to cope with the turbulent tariff environment imposed by the government.
Deep dives
Alphabet's Disappointing Earnings Report
Alphabet, Google's parent company, reported disappointing fourth quarter earnings, with revenues falling short of Wall Street expectations by about a billion dollars. Despite a rise in overall revenues, cloud revenue also underperformed, missing targets by approximately $200 million. This unexpected performance led to a significant drop in Alphabet's share price, which fell about 7% in after-hours trading. The results highlight ongoing challenges in the tech sector, particularly as cloud services face increasing scrutiny and competition from rivals like Microsoft.
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