Shares of Meta Platforms and Microsoft surged in early trading after both reported robust quarterly results reflecting ongoing strength in AI spending. Meta's revenue increased by 16% year-on-year to $42.3 billion, while Microsoft’s Azure cloud business enjoyed a remarkable 33% growth. Despite worries over new tariffs affecting their performance, both companies demonstrated strong growth forecasts, with Meta planning significant capital expenditures to bolster its AI capabilities. This positive outlook reinforces the prevailing trend of investment in artificial intelligence across the tech landscape.
"We've had a strong start to the year," Meta CEO Mark Zuckerberg said on a call with analysts. "Our community keeps growing with...
Meta expects to spend $64 billion to $72 billion on capital expenditures in 2025, up from previous guidance of $60 billion to $65 billion.
Microsoft's Azure cloud business saw 33 percent revenue growth during the quarter, with AI growth contributing 16 percentage points to this surge.
Investors had concerns about how uncertainty created by new tariffs would impact the tech giants' results and outlook.
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