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Podcast: Bloomberg Daybreak: US Edition
Episode: Instant Reaction: Microsoft & Meta Soar After Strong Earnings
Description: Microsoft reported better-than-expected growth in its cloud business and said spending on AI infrastructure hit a record. The closely watched Azure cloud-computing unit posted a 39% rise in sales during Microsoft’s fiscal fourth quarter, the company said in a statement on Wednesday. Analysts projected 34% revenue growth. The shares rose about 7% in extended trading after closing at $513.24 in New York. The company’s stock was up about 22% this year through the Wednesday close.Meta also reported results that sent shares higher after the close. Meta topped projections for second-quarter sales and gave a stronger-than-expected forecast for the current peri...