Mixed share reaction to megacap earnings burst, Meta droops


People walk behind a logo of Meta Platforms company, during a conference in Mumbai, India, September 20, 2023. REUTERS/Francis Mascarenhas

(Reuters) -Shares in three of the "Magnificent Seven" companies with significant investments in artificial intelligence were mixed in after-hours trade on Wednesday after the mega caps released third quarter earnings.

Shares in Google-parent Alphabet rose 6.2% after the company beat Wall Street estimates for third-quarter revenue on Wednesday, as both its core advertising business and cloud computing unit showed steady growth.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

New on the iPhone: Shazam songs even when offline with iOS 26.4
First Robot: Melania Trump brings droid to White House event
Why AI means animal testing is not always needed to trial new medicines
Day of reckoning arrives for social media after US court loss
Teens get probation after using AI to create fake nudes of classmates
Revolut to base 40% of its global workforce in India by 2026
Apple rolls out age checks for UK users
Munich Re: AI making cyber attacks costlier and more effective
Nanya Technology shares surge 10% after $2.5 billion fundraising
Nvidia-backed Reflection AI eyes $25 billion valuation, WSJ reports

Others Also Read