Tech giants beat Wall Street expectations after weeks of volatility in US stocks.
Published On 1 May 2025
Tech giants Microsoft and Meta posted better-than-expected results in the first quarter of the year, offering some reprieve to investors after months of turbulence unleashed by United States President Donald Trump’s trade war.
Meta, the parent company of Facebook and Instagram, reported a net quarter profit of $16.64bn, or $6.43 per share, for the January–March period – up 35 percent year-on-year.
Revenue rose 16 percent, ending at $42.31bn and higher than Wall Street expectations of about $41.4bn.
Microsoft posted a net quarter profit of $25.8bn, or $3.46 per share, and up 18 percent year-on-year.
The company’s revenue came to $70.1bn, up 13 percent year-on-year and ahead of analysts’ expectations.
Both companies cited artificial intelligence (AI) as a major driver of growth, helping to ease investors’ concerns about a possible slowdown in demand for the burgeoning technology.
Meta recently incorporated AI tools into its advertising business, its top source of revenue, while Microsoft reported st