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Meta quarterly profit climbs despite big cloud spending
Economic Times
·
3m ago
Medial
Meta reported a $16.6 billion profit in Q1 on $42.3 billion revenue, surpassing expectations despite heavy investments in AI and cloud computing. User engagement remains strong across its platforms like Facebook, Instagram, and WhatsApp. Meta introduced a standalone AI assistant app and continues leveraging AI across its services. Regulatory challenges persist as Meta combats antitrust cases. The company is focused on AI infrastructure investments and adapting to emerging competition, maintaining robust ad revenues.
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Salesforce gains as software firm bets on AI tools to power growth
Economic Times
·
11m ago
Medial
Salesforce's shares rose by over 5% after reporting positive quarterly results and highlighting their focus on artificial intelligence (AI) to drive growth. The company has been investing in integrating AI technologies into products like Slack to enhance capabilities and attract more customers. Despite concerns about cloud spending, Salesforce exceeded revenue and profit expectations in Q2 and raised its profit forecast for the year. Analysts believe the company's AI initiatives, new solutions showcased at Dreamforce event, and the potential of Agentforce customer support platform could contribute to sustained growth.
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Meta climbs and Microsoft falls as Wall Street ticks higher
Economic Times
·
6m ago
Medial
Stocks saw varied performance as profit reports influenced market activity. Meta Platforms rose on better-than-expected profits and AI investment plans, while Microsoft's weaker cloud-business growth led to a decline. The S&P 500 and Nasdaq remained positive with slight gains, whereas the Dow Jones saw a marginal dip. Major airline stocks fell due to an accident involving an American Airlines plane. Meanwhile, the Fed kept interest rates unchanged, signaling stable economic policy amid uncertain economic outlooks.
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Meta and Microsoft keep their license to spend
Livemint
·
6d ago
Medial
Meta and Microsoft continue to invest heavily in new ventures like AI, supported by strong performance from their core businesses. Despite initial concerns, both companies’ quarterly reports show that substantial spending on new technology remains feasible. Meta, in particular, has faced scrutiny over large payouts to AI researchers, but the foundational businesses’ success allows this aggressive investment strategy. Historically, their capital expenditure exceeds 30% of revenue, a significant increase from past averages.
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Meta's profit rises 35%, even as spending spree continues
Economic Times
·
9m ago
Medial
Meta, formerly known as Facebook, has reported double-digit revenue and profit growth in the third quarter, driven by advancements in its advertising and AI systems. The company's revenue increased by 19% to $40.6 billion, while profit rose by 35% to $15.7 billion. However, Meta also announced that it would continue its significant spending spree, with expenses amounting to $23.2 billion and capital expenditures of $9.2 billion in Q3. The company plans to increase its annual spending forecast to $38 billion to $40 billion. Despite the positive results, Meta's shares fell in after-hours trading.
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Meta, Amazon beat expectations with stellar results
Livemint
·
1y ago
Medial
Meta (formerly Facebook) and Amazon both surpassed expectations with their latest quarterly financial results. Meta reported a profit of $14 billion and revenue of $40.1 billion, while Amazon's sales reached $170 billion, surpassing expectations. Despite regulatory scrutiny, both companies continue to thrive with Meta boasting 3.07 billion monthly users and Amazon's advertising business growing by 26%. However, doubts remain about the future performance of Amazon Web Services (AWS) and its ability to rival competitors.
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Microsoft approves new $60 billion share buyback program, quarterly dividend of $0.83 — a 10% jump | Mint
Livemint
·
10m ago
Medial
Microsoft has announced a new share buyback program of up to $60 billion, approved by its board. The company reported a quarterly dividend of $0.83 per share, marking an 8 cent increase from the previous quarter. Microsoft's annual shareholders meeting will take place on December 10. The tech giant has been increasing spending on AI infrastructure, resulting in a rise in capital spending. Despite a slowdown in growth in its Azure cloud business, Microsoft expects growth to accelerate in the second half of fiscal 2025.
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EBay beats earnings estimates on strong US holiday spending
Economic Times
·
1y ago
Medial
eBay reported better-than-expected quarterly revenue and profit due to strong consumer spending during the holiday season. The company experienced growth in categories such as refurbished goods and auto parts, and its marketplace is expected to benefit from increased consumer spending. However, eBay CEO Jamie Iannone noted weaknesses in the UK and Germany, highlighting negative e-commerce growth in the latter. The company also announced a $2 billion share repurchase program. Despite job cuts and uncertainties in the economy, eBay's performance surpassed estimates with a revenue of $2.56 billion and adjusted profit per share of $1.07.
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All eyes on AI to drive Big Tech earnings
Economic Times
·
1y ago
Medial
The upcoming quarterly results of Big Tech giants will shed light on the impact and sustainability of artificial intelligence (AI) investments. Analysts predict strong growth and earnings for Microsoft and Google, driven by their AI initiatives. Apple, although a late entrant in the AI space, is expected to show improvement in China sales. However, analysts have concerns about Meta's growth due to increased spending on AI infrastructure. Microsoft is well-positioned to capitalize on generative AI and its cloud business, while Amazon's AWS is poised to capture AI-driven demand. Google's AI Overviews feature has faced skepticism and concerns about its impact on advertising revenue. Nevertheless, Google remains the top destination for search and search ad spending.
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Meta says it will continue spending, as growth surges
Economic Times
·
1y ago
Medial
Meta (formerly Facebook) has continued to heavily invest in artificial intelligence (AI) technologies, spending $8.5 billion in Q2 on AI infrastructure, metaverse development, and other expenses. The company raised its spending forecast for the year to $37 billion to $40 billion. Despite the lack of immediate profits, Meta remains committed to building the best consumer and advertising experiences. The company reported Q2 revenue of $39.1 billion, up 22% YoY, with a profit of $13.5 billion, up 73% YoY. Meta's ad business also showed strength, with revenue expectations for Q3 above Wall Street estimates.
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Microsoft shares slide 5% as cloud forecast, AI spending disappoint
Economic Times
·
6m ago
Medial
Microsoft's cloud computing business forecast fell short of expectations, causing its shares to drop by 4.5%. Despite beating quarterly sales estimates, concerns linger over high spending in AI and competition from cheaper Chinese models. Azure's growth projections are below expectations, with revenue growth missing estimates. Microsoft's capital expenditures exceeded expectations, and the rise of Chinese AI models like DeepSeek has heightened price war fears. Investors seek assurance on the monetization of significant AI investments.
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