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Meta and Microsoft Surpass Forecasts, Lifting U.S. Stock Futures

Stronger-than-expected results from Meta and Microsoft have driven key U.S. futures higher as markets shift toward upcoming Apple, Amazon reports

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Overview

  • Meta beat second-quarter revenue and earnings estimates and issued above-consensus third-quarter guidance, sending its shares up 11.5% in after-hours trading.
  • Microsoft topped fourth-quarter revenue and EPS forecasts, raised its outlook and saw its market valuation exceed $4 trillion after an 8.3% share rally.
  • Dow futures rose 0.33%, S&P 500 futures climbed 0.95% and Nasdaq futures gained 1.28% following the tech giants’ earnings beats.
  • Analysts expect Apple to report $1.42 per share on $89.04 billion in revenue and Amazon $1.31 per share on $161.87 billion, with both set to announce results after the closing bell.
  • Investors are also eyeing pre-market earnings from Comcast, Bristol-Myers Squibb, Cigna, CVS Health, Shake Shack, AbbVie and Mastercard before Thursday’s open.