Alphabet’s third-quarter results hit a nerve with investors, as the company grappled with decelerating search growth and negative free cash flow, pushing the stock down to $293.97. The contrast was stark at Microsoft, where the fiscal first-quarter report highlighted accelerating momentum in Azure. With expectations for further growth in the coming quarter, Microsoft shares climbed 2.7% to $545.35.
In section Market Quotes
Tech Earnings Diverge as Cloud Gains Offset Search Slowdown
A sharp 9.6% drop in Alphabet shares signaled investor anxiety over cooling search revenue, even as Microsoft’s cloud division bolstered market confidence. This divergence defined a volatile Wednesday after-hours session, where corporate performance reports triggered double-digit swings for software leaders and e-commerce platforms alike.
Elsewhere in the tech sector, ServiceNow struggled to meet analyst benchmarks, leading to a 17% plunge in its share price to $124.30. Conversely, EBay outperformed expectations on both revenue and adjusted earnings, bolstered by sustained interest in the collectibles market, which pushed the stock up 4.5% to $123.30. Meanwhile, Carvana surged 8.1% to $63.84, fueled by a 40% increase in vehicle sales during the third quarter.
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