Microsoft rises as Meta declines on AI results
Microsoft's stock jumped 9% in pre-market trading after announcing quarterly earnings that exceeded expectations. The company experienced a 43% growth in its Azure cloud computing business, and the number of subscriptions for Microsoft 365 Copilot surpassed 30 million. Conversely, Meta's stock declined by a similar percentage due to falling revenues and a 91% deterioration in free cash flow, attributed to heavy spending on artificial intelligence, coupled with weak projections and lack of clarity from Meta's management.
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