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Microsoft and Meta shares fall in Frankfurt despite earnings beat

Published 10/31/2024, 03:19 AM
Updated 10/31/2024, 04:11 AM
© Reuters. FILE PHOTO: The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo
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MILAN (Reuters) - Frankfurt-listed shares in Microsoft (NASDAQ:MSFT) and Meta both fell in early trading on Thursday, even as earnings at the two U.S. tech groups beat Wall Street expectations.

© Reuters. FILE PHOTO: The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo

Microsoft predicted slower growth in its cloud business Azure and Facebook (NASDAQ:META) owner Meta warned of "significant acceleration" in artificial intelligence-related infrastructure expenses next year.

By 0711 GMT, Microsoft shares were down 5.1% in Frankfurt and Meta slipped 2.6%. As a result, Nasdaq futures dropped over 1%.

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