Meta and Microsoft announced strong earnings, with Meta achieving a 22% revenue growth to $47.52 billion and a net income of $18.34 billion. Microsoft saw an 18% increase in revenue to $76.44 billion and net income of $27.23 billion. Both companies are significantly increasing capital expenditures for AI infrastructure, with Meta raising its full-year capex forecast to between $66 billion and $72 billion, while Microsoft's expected expenditures exceed $30 billion, benefiting semiconductor firms.
Meta's earnings were impressive with a 22% year-over-year revenue increase to $47.52 billion and net income up 36% to $18.34 billion, or $7.14 per share.
Microsoft reported $76.44 billion in revenue for its fiscal fourth quarter, a rise of 18% from the previous year, with net income reaching $27.23 billion, or $3.65 per share.
Meta raised the lower end of its full-year capex forecast to $66 billion, increasing its total range up to $72 billion and emphasizing commitment to AI infrastructure.
Microsoft's fiscal first-quarter capital expenditures and assets acquired through finance leases are projected to exceed $30 billion, surpassing the $24.23 billion analysts expected.
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