"Fueling upside, Meta ( NASDAQ: META) is up about 10% in premarket, or by $63.50 a share, to $732.20. All after the company posted EPS of $8.88 on revenue of $59.89 billion. Those came in above estimates for $8.23 and $58.59 billion. Meta also issued strong guidance, expecting first-quarter sales of $53.5 billion to $56.5 billion, which is above estimates of $51.41 billion."
"Analysts loved the news, with Barclays raising its price target to $800 from $770, with an overweight rating. "After a jittery response to 3Q, META got back to business in 4Q. More impressive than the massive capex/opex growth is the ad rev trajectory, eclipsing 30% in 1Q, papering over many investor concerns. META continues to set the pace for the digital ad industry, with AI option value still ahead," added the firm, as quoted by CNBC."
"Down about 7%, or by $33 a share, Microsoft ( NASDAQ: MSFT) reported that cloud growth slowed in the second quarter. It also issued soft guidance on operating margins. The good news is that MSFT's EPS of $4.14 was better than the estimates of $3.97. Revenue of $81.27 billion was also higher than the estimates for $80.27 billion. With guidance, the company called for revenue of between $80.65 billion and $81.75 billion, with its mid-range of $81.2 billion meeti"
Markets opened slightly higher with the S&P 500 up 0.25%, the SPDR S&P 500 ETF up 0.24%, and the Nasdaq up about 0.17% while the Dow was essentially flat. Meta rallied roughly 10% premarket after reporting EPS of $8.88 on $59.89 billion in revenue, both above estimates, and issued guidance calling for first-quarter sales of $53.5–$56.5 billion. Multiple firms raised price targets and maintained overweight/buy ratings. Microsoft fell about 7% after reporting slower cloud growth and softer operating-margin guidance despite reporting EPS of $4.14 and revenue of $81.27 billion, both above estimates.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]