Tech Earnings Send Nasdaq Lower

Core Insights - Meta and Microsoft experienced a decline in their stock prices following the release of their quarterly results, indicating investor concerns over their financial performance and future outlook [1] Company Performance - Meta reported a revenue of $32.0 billion for the quarter, which represents a year-over-year increase of 11% [1] - Microsoft posted quarterly revenue of $56.5 billion, reflecting a 12% increase compared to the same period last year [1] - Despite the revenue growth, both companies faced challenges that led to a negative market reaction [1] Market Reaction - Following the earnings reports, Meta's shares fell by approximately 5%, while Microsoft's shares dropped by around 4% [1] - The declines in stock prices suggest that investors are reacting to concerns about future growth prospects and potential market saturation [1]