7/1023 sources · 15 publishersUpdated Oct 29, 07:26 UTC
Alphabet selloff contrasts with Microsoft gain after earnings as Fed holds rates
Alphabet reported a quarterly revenue and earnings miss after the Oct. 28 close, while Microsoft delivered stronger results and faster cloud revenue growth. Alphabet shares fell in extended trading, whereas Microsoft shares gained. The Fed left the policy band at 3.75% to 4.00%, with the decision passing 10-2.
Why it matters
The contrasting results give investors new signals on AI monetization at Alphabet and cloud demand at Microsoft. Alphabet's decline also pressured index futures, while Microsoft's gain provided a counterpoint to renewed concerns about AI spending returns.
Key facts
- 1The Federal Reserve kept its policy rate at 3.75% to 4.00% in a 10-2 decision. bbntimes.com
- 2Alphabet reported negative free cash flow of $9.07 billion. cnbc.com
- 3Alphabet's earnings miss erased $400B from its market value. finance.yahoo.com
- 4Microsoft's cloud revenue accelerated during the quarter. bbntimes.com
- 5Microsoft shares rose after the company reported results above expectations. cnbc.com
Open questions
- Materials report different exact percentages for Alphabet's after-hours decline.
- Materials report different exact percentages for Microsoft's after-hours gain.
Summary written by AlphAI AI Desk from 20 of 23 sources. Not investment advice. Figures are as stated by the linked sources.