Daily Rewind: All 👀 on big tech

💰📲 Some of the world’s most valuable tech companies reported earnings today, including Google, Amazon and Microsoft. Here’s how they fared:

The good…

• Amazon is on fire! It blew past Wall Street’s expectations, reporting sales of $35.71 billion last quarter. That’s a 23% increase from the same time last year. Plus, it posted a profit for the eighth quarter in a row. The e-commerce giant is gaining a bigger share of the retail market as brick-and-mortar chains shutter their doors. Its Web Services business is also growing.
• Google’s parent company Alphabet released better-than-expected earnings this afternoon. Sales clocked in at $24.75 billion (investors were only expecting to see $24.22 billion). 📈 Alphabet’s stock rose 3% on the good news. The report comes two days after the company released a new Google Maps feature and expanded its Indian language capabilities.

The “eh”…

• Microsoft reported mixed earnings. Sales came in at $23.56 billion, but investors were hoping for a slightly higher $23.63 billion. The disappointment sent shares down after the bell. Linkedin contributed nearly $1 billion to Microsoft’s revenue (the tech giant bought Linkedin for $26 billion last year). Microsoft’s earnings per share beat expectations at 73 cents, rather than 70 cents.

And the ugly…

• Intel reported lower-than-expected sales, sending its shares down more than 3% in after-hours trading. It earned $14.8 billion overall, with its data center business earning $4.2 billion. Investors had hoped the data center would earn closer to $4.4 billion.

Other important news to know:

United Airlines announces new customer service measures. The airline is making 10 big changes to prevent a repeat of what happened to Dr. David Dao, who was dragged off a flight on April 9 because United needed extra seats for crew members. United reached a settlement with Dao today. The first big change: United will only call the cops when there’s a safety or security issue — not just to enforce it’s own policies. In addition, passengers already on board a flight won’t be asked to give up their seats involuntarily unless there’s a safety or security issue. And passengers who do give up their flights voluntarily will receive up to $10,000. Read about the other changes from CNNMoney’s Jon Ostrower.

The cost of Trump’s tax plan. The Trump administration released details about its tax reform plan yesterday. That plan focuses heavily on tax cuts for individuals and businesses — which could cost $5.5 trillion in lost revenue during the first decade, according to an estimate from the Committee for a Responsible Federal Budget. While Treasury Secretary Steven Mnuchin said the tax plan will eventually pay for itself by creating new jobs, the CFPB says it would be virtually impossible to offset the plan’s cost. Read more from Jeanne Sahadi.

Top headlines from around the web:

*Pentagon warned Flynn not to accept foreign payments (Chicago Tribune)

*Starbucks’ quarterly sales miss the mark (Bloomberg)

*CNN Poll: Trump is the least popular new president (CNN Politics)

That’s all for now. We’ll catch you again tomorrow!

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