Mark Zuckerberg predicts that the future of AI will involve multiple specialized tools for different tasks, rather than a "winner takes most" model, as seen in the search engine industry.
Meta raised its capex estimate for the year to $64 billion-$72 billion from $60 billion-$65 billion, citing increased data center investments and higher infrastructure hardware costs.
The regular session of the US market on Wednesday is now over, but let's get a preview of the after-hours session and explore the top S&P500 gainers and losers driving the post-market movements.
Social network operator Meta Platforms (NASDAQ:META) reported Q1 CY2025 results beating Wall Street’s revenue expectations, with sales up 16.1% year on year to $42.31 billion. The company expects next quarter’s revenue to be around $44 billion, close to analysts’ estimates. Its GAAP profit of $6.43 per share was 23.1% above analysts’ consensus estimates.
Meta reported first-quarter revenue of $42.31 billion, beating analyst estimates of $41.39 billion. The company reported first-quarter earnings of $6.43 per share, easily beating analyst estimates of $5.21 per share.
An antitrust trial against Meta Platforms could force the company to break-up or spinoff units. Benzinga readers share their thoughts on which unit they want to own.
Wall Street traded lower on the final session of the month, heading for its third consecutive monthly loss as economic data began reflecting the impact of Trump tariffs.
Microsoft Corp. (NASDAQ: MSFT) President Brad Smith has declared the company's commitment to adhering to European laws, a stance that starkly contrasts with the White House's disapproval of the EU's recent sanctions on Big Tech.
U.S. stock futures are down Wednesday morning, despite major averages ending up on Tuesday, and the S&P 500 and Dow Jones notching their sixth-straight day in the green, the longest streak for the indexes in months.
Microsoft Corp. CEO Satya Nadella disclosed that artificial intelligence is now writing up to 30% of the tech giant's code, signaling a fundamental shift in software development as AI tools reshape how tech companies build their products.
