Microsoft beats Wall Street revenue estimates The technology giant has announced a 17% uptick in quarterly revenues to $61.9bn, ahead of the previously-forecasted $60.8bn. Microsoft has said that boost was driven by gains from its AI products. Read more.

Alphabet releases better-than-expected third-quarter earnings In the three months to the end of March, the owner of YouTube and Google generated revenue of $80.5bn, up 15% from the year-earlier period and well above the Wall Street consensus at $78.7bn. The company has announced its first-ever dividend. Read more.

Indian food delivery giant Swiggy seeks $1.25bn in IPO The Indian startup has said that it is looking to raise $1.25bn in an initial public offering later this year. Currently, Swiggy commands about 45.8% of the Indian food delivery market. Read more.

Meta outlines plans to spend heavily on AI The owner of Facebook and Instagram has said that expenses will be higher this year, as the tech giant outlines plans to invest in AI. First quarter revenue rose 27% to $36.46bn, slightly above estimates. Read more.

Walmart-owned fintech One launches buy now, pay later offering One, which is majority owned by the retail giant Walmart, is expanding its services with a new buy now, pay later offering. The fintech joins peer Affirm as one of the options that Walmart customers will have when paying for shopping at Walmart. Read more.

Tesla profits drop 55% to $1.13bn in first quarter The EV maker has posted a dip in profits to $1.13bn, and a 9% downturn in revenue to $21.3bn, due to “several unforeseen challenges”. Read more.