Earnings live updates: SoFi stock tumbles, Alphabet stock jumps as 'Magnificent 7' results roll in

Earnings season dominated market attention, with Alphabet (GOOG.OQ) topping Q1 estimates on strong Google Cloud and AI performance — its shares have risen roughly 30% over six months — helping drive optimism for tech. Microsoft and Amazon also beat expectations (Microsoft’s AI business now has a $37bn annual run rate), while Meta and other Big Tech showed strength. Mixed results elsewhere (Spotify guidance miss, SoFi platform issues, Robinhood revenue shortfalls) produced sector dispersion. Analysts expect the S&P 500 to post a sixth consecutive quarter of double-digit earnings growth, keeping sentiment constructive despite geopolitical risks from the Iran war and delayed Fed cuts. Overall, strong earnings from mega-cap tech firms supported a bullish market tone, even as some individual names and sectors disappointed.