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Real-time News
Meta Platforms (META.O) CFO: Capital expenditure and expense plans are expected to face "upward pressure" next year due to increased computing demand.On October 30th, Microsoft (MSFT.O) released its quarterly earnings report, showing a 12% year-over-year increase in net income to $27.7 billion for the first fiscal quarter ending September 30th. Adjusted earnings per share were $4.13, exceeding market expectations of $3.67. Azure cloud revenue grew 40%, surpassing market expectations. Microsofts stock price initially fell 3% in after-hours trading. Quarterly revenue increased 18% year-over-year to $77.67 billion, also exceeding market expectations of $75.33 billion. The Intelligent Cloud segment, including Azure, generated $30.9 billion in revenue, a 28% year-over-year increase, exceeding market expectations of $30.25 billion; while the Productivity and Business Processes segment generated $33 billion in revenue, also exceeding expectations of $32.33 billion. Microsoft Chairman and CEO Satya Nadella stated that the company will continue to increase investment in artificial intelligence, including funding and talent, to capitalize on future opportunities.On October 30th, Alphabet (GOOG.O), Googles parent company, announced its third-quarter results, with revenue increasing by 16% year-over-year to a record $102.3 billion, exceeding analysts expectations. Thanks to growth in digital advertising and cloud computing, the company has ample funds for massive investments in artificial intelligence. Net income was approximately $35 billion, a 33% year-over-year increase. The companys stock price rose by about 7% in after-hours trading. Like other tech giants, Google is investing tens of billions of dollars in AI research and development. The company raised its capital expenditure forecast for this year to $91 billion to $93 billion, a significant increase from $52.5 billion in 2024. Most of this funding will be used to build data centers for developing and running AI models. Googles cloud computing division has benefited significantly from the AI race, with revenue reaching $15.2 billion this quarter, a substantial 34% year-over-year increase.Canadian Ambassador to the United States: U.S. and Canadian officials are still in communication.Microsoft (MSFT.O) CEO: We will continue to increase our investment in artificial intelligence, both in capital and talent, to capitalize on the enormous opportunities ahead.