The CEOs of both U.S. tech behemoths spoke about the Chinese startup's innovations as they disclosed their financial results.
Harvest Portfolio Management chief investment officer and Wall Street Beats partner Paul Meeks joins Morning Brief to discuss Meta Platforms's (META) earnings and outlook. Meeks ranks Meta as "top of the class" in tech, expressing confidence in CEO Mark Zuckerberg's vision and predicting "this will be a great year for the company.
Microsoft reported robust growth in artificial intelligence (AI) demand for the second quarter, with gains seen throughout its Copilot and Azure operations and propelling revenue and earnings past Wall Street expectations. But non-AI business for its cloud division, Azure, disappointed Wall Street because it came in at the low end of expectations.
Key tech stocks were a mixed bag in early trading Thursday after executives at Meta and Microsoft said they plan to keep pouring billions of dollars into AI – despite lingering anxiety over the launch of China-based DeepSeek's AI model.
The stock market was having a mixed day on Thursday, with the Dow Jones Industrial Average (^DJI 0.11%) slightly higher and the S&P 500 (^GSPC 0.08%) marginally lower. However, tech giant Microsoft (MSFT -6.26%) was a big exception, with shares down by more than 6% at 11 a.m.
Meta and Tesla rise as Microsoft slumps, keeping US indices mixed. Investors await Apple and Amazon earnings while GDP and Fed policy weigh on sentiment.
MSFT beats second-quarter fiscal 2025 earnings and revenue estimates but offers downbeat guidance for the third quarter.
CNBC's Steve Kovach reports on Microsoft's quarterly earnings results.
MSFT's second-quarter fiscal 2025 results reflect strength in AI business and Copilot adoption amid decelerating growth in its Azure cloud infrastructure unit.
It's no surprise that Meta Platforms Inc META and Microsoft Corp MSFT have been on a capex spree, pouring billions into their cloud infrastructure and AI ambitions.
Microsoft shares dropped 5% after issuing weak current-quarter guidance. The software giant topped Wall Street's fiscal second-quarter estimates, posting earnings of $3.23 per share on $69.63 billion in revenue.
Meta Platforms (META) is set to open near all-time highs after earnings as the company posts a big beat in revenue in the 4Q, while Microsoft slumps as CEO Satya Nadella says DeepSeek has some 'real innovations.' Alex Coffey looks through the numbers and also shares why UPS earnings have the stock lowe ======== Schwab Network ======== Empowering every investor and trader, every market day.