Investing in technology companies involves weighing up expected quantities of jam today, jam tomorrow and jam at some unknown future date. Facebook parent Meta Platforms and Microsoft are serving up just enough of each.
Both reported earnings on Wednesday that — like Google parent Alphabet the previous day — outpaced what analysts expected. Microsoft’s cloud computing business increased revenue by 22 per cent, a little faster than the previous quarter. Meta’s sales of advertising increased by 19 per cent, and it exacted 11 per cent more per ad than a year earlier. Today’s jam, then, is safely taken care of.
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