Stability "like academia" is rich, given all we've heard about "publish or perish". Modern academia is a poor fit for increasingly any case you can think of besides maintaining the status of academia. But sure, there needs to be some stability and ability to "fail"/i.e. produce something worthless. Corporate research departments provide this -- if they didn't, they wouldn't have a research department and indeed many don't, nor do they need to, but this has little to do with quarterly returns.

We've also seen a rise of VC-backed research startups (like DeepMind but many others) whose value proposition (to the VC) only makes sense if the goal is to demonstrate a research capacity to get them bought out by a big company, or as a moonshot to out-compete them on an actual product made possible by the research. Investing in these little research startups themselves is also giving companies a way to push research without having to deal with having the researchers as direct employees, and I'm sure makes some of the startup employees feel a bit safer since there's a separation of money and operation influence. One similarity with modern academia is it selects for those who can do good work but who are also good bureaucrats (write grant proposals well, advising politicians, etc), startups have a selection for good work + good at courting VCs. But the startup just needs a few of them, then they can hire people who just want to do good work.

Another thing that makes corporate even better is they can occasionally spin off research developments into products, they can have some nice advances that only come when you try to productize, and among other reasons by not having to bother with external publishing (which takes time + fights with lawyers and business people) they can routinely be 10+ years ahead of whatever the state of the art in academia is.