SQUAWK BOX, WEDNESDAY 31ST JANUARY, 2024

Disappointing advertising revenues push Alphabet shares into the red in extended trade despite the tech giant posting its fastest quarter for revenue growth since early 2022. Microsoft beats on the top and bottom line, enjoying its highest profit growth in more than two years but guidance for the current quarter is lukewarm. In the U.S., a Delaware judge rules against Tesla CEO Elon Musk’s $56bn pay package calling it ‘deeply flawed’, arguing that the board of directors had failed to prove it was fair. Shares in the EV maker slid around 3 per cent in extended trade. Chinese factory activity suffers its fourth straight month of contraction but the IMF’s Chief Economist Pierre-Olivier Gourinchas tells CNBC the country is exhibiting some signs of resilience.

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