00:00Microsoft shares surged by up to 10% in pre-market trading on Thursday after the technology
00:06giant forecast stronger-than-expected revenue and accelerating cloud growth.
00:10The strong performance was driven by Microsoft cloud revenue reaching $59.3 billion in the
00:16April-June quarter, with Azure and other cloud services expanding by 43%.
00:22CEO Satya Nadella confirmed that annual Azure revenue surpassed $100 billion for the first
00:28time, while Microsoft 365 co-pilot reached over 30 million paid seats.
00:34However, Microsoft cautioned that Azure demand continued to exceed available capacity, even
00:40as Chief Financial Officer Amy Hood maintained plans for approximately $175 billion in capital
00:48expenditure.
00:49In contrast, Meta saw its profits fall, reporting a 14% drop in quarterly profit to $15.85 billion,
00:57despite revenue rising 28% to $60.8 billion.
01:03Meta's earnings fell by $2.4 billion due to legal charges and $1.18 billion in severance
01:10costs from workforce reductions, though CEO Mark Zuckerberg remained optimistic about long-term
01:16AI integration.
01:18Thank you to see you on our next meal!
01:21Thanks, Will!
01:21Biasing your days!
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