Microsoft's Azure Cloud Revenue Tops $100B; Meta's Earnings Miss Drags Stock Down
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Microsoft's stock surged nearly 9% in pre-market trading after the tech giant reported strong earnings, with Azure cloud revenue topping $100 billion annually and robust forward guidance. Meanwhile, Meta Platforms' stock dropped around 9% on an earnings miss, weaker revenue guidance, and concerns over elevated AI spending. Starbucks and Chipotle shares climbed on raised outlooks, while Qualcomm fell due to a weaker-than-expected Q4 profit forecast. Garmin and Fortinet also gained on strong results.
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