The tech titans posted earnings as shares in Meta skyrocketed a day after it reported better results than expected and signalled spending and job cuts.
The souring mood followed a long spell of outsized growth during the peak Covid-19 period when consumers went online for work, shopping and entertainment. While earnings reports show there is “caution in the air” there are signs that the companies could be heading for soft landings, the analyst added.
Google saw a slump in its crucial advertising sales, which were slightly better than analysts had projected, according to data compiled by Factset.
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