Microsoft ‘back on track’, whilst Meta spending leaves investors ‘nervous’Meta reported record quarterly revenue of $60.8bnMicrosoft saw strong growth over the last quarter as demand for its AI products continued to climb, while Meta’s rising spending on AI overshadowed record sales and sent its shares lower. Microsoft reported revenue of $90bn (£67bn), up 18 per cent from a year earlier; overall profits rose 31 per cent to $35.8bn. Its cloud platform, Azure, revenue grew by 43 per cent, and Microsoft 365 Copilot now has more than 30 million paid users. Meanwhile, Meta reported record quarterly revenue of $60.8bn (£45.5bn), up 28 per cent, but profit fell 14 per cent to $15.8bn after expenses jumped 55 per cent. He said Meta’s results told a different story, with “eye-watering spending levels still making investors nervous”.