Alphabet and AMD, McDonald's, Consumer Confidence: 3 Things to Know Today

Alphabet and AMD Soar Following Earnings

Alphabet and Advanced Micro Devices (AMD) shares rose sharply in after-hours trading on Tuesday after both companies reported better-than-expected earnings and gave upbeat guidance for the future.

Alphabet's revenue jumped 28% to $75.3 billion in the first quarter, driven by strong growth in its cloud computing and advertising segments. Google Cloud revenue soared 44% to $5.8 billion.

AMD's revenue rose 55% to $5.9 billion, driven by strong demand for its server and gaming chips. The company's data center revenue jumped 71% to $2.6 billion.

Consumer Confidence Dips Again

Consumer confidence in the U.S. fell again in April, according to a closely watched index from the Conference Board. The index fell to 107.3, down from 107.6 in March.

The decline was driven by concerns about inflation, rising interest rates, and the war in Ukraine. The index has now fallen for three consecutive months.

McDonald's Same-Store Sales Rise

In other news, McDonald's reported a better-than-expected increase in same-store sales in the first quarter of 2022.

Global same-store sales rose 11.8%, driven by strong growth in the U.S. and Europe. The company's U.S. same-store sales rose 13.6%, while its European same-store sales rose 10.2%.

McDonald's attributed the strong sales growth to its value menu and breakfast offerings.