Microsoft and Meta shares fall in Frankfurt despite earnings beat

October 31, 2024

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Frankfurt-listed shares in Microsoft and Meta both fell in early trading on Thursday, even as earnings at the two U.S. tech groups beat Wall Street expectations.

Microsoft predicted slower growth in its cloud business Azure and Facebook owner Meta warned of “significant acceleration” in artificial intelligence-related infrastructure expenses next year.

By 0711 GMT, Microsoft shares were down 5.1% in Frankfurt and Meta slipped 2.6%. As a result, Nasdaq futures dropped over 1%.

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Microsoft and Meta shares fall in Frankfurt despite earnings beat

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Jerome Powell and the 🇺🇸 Fed just said it will soon “seek public comment on significant changes to improve transparency of bank stress tests & reduce volatility of resulting capital requirements”