Tesla stock, along with six other Big Techs, account for 86% of the S&P 500's 2023 performance. Alphabet and Microsoft reported earnings. Read More...
Microsoft results top forecasts, shares jump 8% as AI juices sales
(Reuters) -Microsoft Corp beat Wall Street’s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales. The company forecast revenue in its main segments for the current quarter would match or top Wall Street targets. Shares gained 8.3% in after-market trading following a report by Redmond, Washington-based Microsoft that profits were $2.45 per share in the fiscal third quarter, beating Wall Street estimates of $2.23, according to data from Refinitiv.