Big Tech earnings: Microsoft, Meta come into focus; Tesla misses

Yesterday was a big day for tech earnings.

Microsoft shares tumbled in extended trading despite reporting second-quarter earnings and revenue that beat Wall Street estimates. However, the stock decline came after the company said that revenue from Azure and other cloud services increased by 31%—down from 33% one quarter earlier. The company further added that its cloud-computing business would see slower growth amid a shortage of data centers.

Meta beat analyst expectations as net income and sales jumped over the year. CEO Mark Zuckerberg said on an earnings call that he expects the company’s Meta AI chatbot to continue its growth. He was also optimistic of the Trump administration. Shares were up slightly in after-hours trading.

Tesla fell short of earnings expectations over weak sales. But CEO Elon Musk told investors on the earnings call that the company would launch “unsupervised Full Self-Driving as a paid service” in Austin in June.