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Microsoft Beats Q3 Forecasts as Azure Jumps 40%, AI Run Rate Hits $37B, but Shares Dip on Spending Surge
Microsoft beat Q3 forecasts with Azure up 40% and AI revenue run rate at $37B, but shares fell over 2% as capex surged 49% to $31.9B and free cash flow dropped.
Meta's $145B AI Capex Plan Triggers After-Hours Stock Slide Despite Strong Earnings
Meta shares dropped 5% in after-hours trading after the company boosted its 2026 capex forecast to $145 billion, overshadowing a 33% revenue surge to $56.31 billion.
Chipotle Shares Surge 7% as Chicken Menu Revives Comparable Sales Growth
Chipotle posted a 0.5% increase in first-quarter comparable sales, reversing declines and topping analyst forecasts. Shares rose 7% after hours.
Big Tech Earnings Show AI Cloud Surge, but Spending Worries Weigh
Alphabet shares surged on strong cloud earnings, but Meta, Amazon, and Microsoft fell as investors weighed AI spending plans. The four firms are on track to invest over $600 billion in AI infrastructure.
Ford's $1.3B Tariff Refund Boosts Q1 Earnings, Aluminum Costs Loom
Ford raised its 2026 profit outlook after a $1.3 billion tariff refund boosted Q1 net income to $2.5 billion, but aluminum cost headwinds and ongoing EV losses present challenges.
U.S. Gasoline Prices Surge to $4.229, Outlook Points Higher Amid Supply Squeeze
U.S. gasoline prices hit $4.229 per gallon, the highest since July 2022, driven by falling inventories, refinery outages, and crude above $100. The outlook points to further increases as summer demand nears.
Carvana Shares Surge on Record Q1 Revenue and Net Income Beat
Carvana reported record Q1 revenue of $6.43B and net income of $405M, beating Wall Street estimates. Shares rose 10% after hours, though margins narrowed.
Nebius Surges as Meta's Higher Capex Signals AI Cloud Demand
Nebius shares jumped 5.3% to $142.73 after Meta boosted its 2026 capex forecast, highlighting a potential $27B deal. Q4 revenue soared 547% but net losses hit $249.6M.
Phillips 66 Surprises with Q1 Profit as Refining Margins Strengthen
Phillips 66 posted a surprise Q1 adjusted profit of $0.49 per share, beating estimates of a loss, as robust refining margins and 95% utilization offset $839 million in hedge losses. Shares rose over 6%.
Extreme Networks Soars 28% on Strong Q3 Earnings and Upbeat Forecast
Extreme Networks shares surged 28% after reporting fiscal Q3 revenue of $316.9 million and non-GAAP EPS of 26 cents, beating estimates. Q4 revenue guidance of $330-$335 million also topped expectations.
Amazon Q1 Revenue Surges 17% as AWS Growth Accelerates to 28%
Amazon Q1 revenue rose 17% to $181.5B, beating estimates, as AWS growth hit 28%. Net income was boosted by a $16.8B Anthropic gain, but free cash flow fell to $1.2B.