Meta and Microsoft pull historic $550B haul on Wall Street post-earnings report
The post Meta and Microsoft pull historic $550B haul on Wall Street post-earnings report appeared on BitcoinEthereumNews.com. Meta and Microsoft just rewrote the record books on Wall Street. According to trading data compiled since 4 p.m. ET on Wednesday, both companies added a combined $550 billion in market value in under 24 hours. That’s more than the entire worth of Costco by about $140 billion, and even $50 billion more than Netflix. This happened right after both companies published strong earnings that came in well above expectations. In Europe, both tech giants surged in Thursday morning trading after dropping their numbers late Wednesday. Meta’s stock jumped 12.2% in Frankfurt, while Microsoft’s rose 9%. That alone lifted the broader market, sending S&P 500 futures up 1% and Nasdaq futures up 1.3% before the U.S. markets even opened. Investors moved fast, and the numbers justified it. Meta and Microsoft report big beats and move differently on crypto Meta reported earnings of $7.14 per share for the second quarter, way above Wall Street’s estimate of $5.89. The company also brought in $47.52 billion in revenue, beating the expected $44.83 billion. For the third quarter, Meta projected sales between $47.5 billion and $50.5 billion, easily surpassing the average forecast of $46.2 billion. Mark Zuckerberg’s company also gave an updated full-year expense forecast. Meta now says it expects to spend between $114 billion and $118 billion across the year, narrowing its earlier guidance. That range represents a cost increase of 20% to 24% annually. Microsoft’s earnings also broke through expectations. The company reported $3.65 per share in profit, with total revenue for the quarter hitting $76.44 billion, compared to the forecast of $73.89 billion. Its Intelligent Cloud business earned $29.88 billion, which was also above analyst projections. Since Microsoft ends its fiscal year in June, this quarter wrapped up its FY2025, not the calendar year’s Q2. Despite the growing interest in crypto…
The post Meta and Microsoft pull historic $550B haul on Wall Street post-earnings report appeared on BitcoinEthereumNews.com.
Meta and Microsoft just rewrote the record books on Wall Street. According to trading data compiled since 4 p.m. ET on Wednesday, both companies added a combined $550 billion in market value in under 24 hours. That’s more than the entire worth of Costco by about $140 billion, and even $50 billion more than Netflix. This happened right after both companies published strong earnings that came in well above expectations. In Europe, both tech giants surged in Thursday morning trading after dropping their numbers late Wednesday. Meta’s stock jumped 12.2% in Frankfurt, while Microsoft’s rose 9%. That alone lifted the broader market, sending S&P 500 futures up 1% and Nasdaq futures up 1.3% before the U.S. markets even opened. Investors moved fast, and the numbers justified it. Meta and Microsoft report big beats and move differently on crypto Meta reported earnings of $7.14 per share for the second quarter, way above Wall Street’s estimate of $5.89. The company also brought in $47.52 billion in revenue, beating the expected $44.83 billion. For the third quarter, Meta projected sales between $47.5 billion and $50.5 billion, easily surpassing the average forecast of $46.2 billion. Mark Zuckerberg’s company also gave an updated full-year expense forecast. Meta now says it expects to spend between $114 billion and $118 billion across the year, narrowing its earlier guidance. That range represents a cost increase of 20% to 24% annually. Microsoft’s earnings also broke through expectations. The company reported $3.65 per share in profit, with total revenue for the quarter hitting $76.44 billion, compared to the forecast of $73.89 billion. Its Intelligent Cloud business earned $29.88 billion, which was also above analyst projections. Since Microsoft ends its fiscal year in June, this quarter wrapped up its FY2025, not the calendar year’s Q2. Despite the growing interest in crypto…
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