Instant Reaction: Microsoft & Meta Soar After Strong Earnings

<p>Microsoft reported better-than-expected growth in its cloud business and said spending on AI infrastructure hit a record. The closely watched Azure cloud-computing unit posted a 39% rise in sales during Microsoft&rsquo;s fiscal fourth quarter, the company said in a statement on Wednesday. Analysts projected 34% revenue growth. The shares rose about 7% in extended trading after closing at $513.24 in New York. The company&rsquo;s stock was up about 22% this year through the Wednesday close.<br /><br />Meta also reported results that sent shares higher after the close. Meta topped projections for second-quarter sales and gave a stronger-than-expected forecast for the current period, a sign that the social media company&rsquo;s advertising business is still growing quickly enough to support aggressive spending on artificial intelligence. Shares jumped as much as 10% in late trading. Third-quarter sales will be $47.5 billion to $50.5 billion, Meta said in a statement Wednesday, with the midpoint of that range exceeding the average analyst estimate of $46.2 billion, according to data compiled by Bloomberg. The social media giant, which owns Instagram and Facebook, reported second-quarter revenue of $47.5 billion. Meta stock was up 18.7% so far this year before Wednesday&rsquo;s report.<br /><br />For instant reaction and analysis to earnings for both big tech companies, hosts Carol Massar and Tim Stenovec speak with:</p> <ul> <li>Dan Ives, Global Head of Technology Research at Wedbush Securities</li> <li>Bloomberg Intelligence Senior Technology Analyst Anurag Rana</li> <li>Greg Halter, Director of Research at Carnegie Investment Counsel</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>