"Alphabet The search giant jumped more than 7% after strong results that were boosted by revenue from Google Cloud and YouTube advertising. Alphabet earned $3.10 per share, on an adjusted basis, more than the $2.33 per share expected by analysts polled by LSEG. Revenue of $102.35 billion exceeded the $99.89 billion consensus estimate. Meta Platforms The Instagram parent slumped more than 8% after raising its capital expenditures outlook to invest more in artificial intelligence."
"Meta expects to spend between $70 billion and $72 billion, up from previous guidance of $66 billion to $72 billion. The forecast overshadowed better-than-expected earnings and revenue in the third quarter. Microsoft The Windows and Xbox owner fell 2% after finance chief Amy Hood said capital spending will accelerate this fiscal year. Microsoft posted better-than-expected results in its fiscal first quarter as revenue from its Azure cloud business soared 40%."
"Eli Lilly Shares rose 5% as the anti-obesity drugmaker posted third-quarter earnings and revenue that topped estimates . Adjusted earnings came in at $7.02 per share versus analysts' expected $5.69, while revenue was $17.60 billion against analysts' $16.01 billion, according to FactSet. Lilly hiked its full-year revenue outlook to between $63 billion and $63.5 billion. Merck & Co. The pharma giant fell 3% on mixed third-quarter results."
Alphabet surged over 7% as Google Cloud and YouTube advertising lifted adjusted EPS to $3.10 and revenue to $102.35 billion, above expectations. Meta slumped over 8% after raising its capital expenditure outlook to $70–$72 billion to invest more in artificial intelligence despite beating quarterly earnings and revenue. Microsoft fell about 2% as CFO commentary signaled accelerated capital spending even though Azure revenue jumped 40% and results beat forecasts. Eli Lilly rose 5% after reporting $7.02 adjusted EPS and $17.60 billion revenue, raising its full-year revenue outlook. Merck fell on mixed results, with Keytruda revenue slightly below consensus.
Read at www.cnbc.com
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