Alphabet, Meta, Microsoft Report Simultaneously; Capex Guidance Jumps Sharply

Big Tech earnings flooded the market within an 80-second window after the close. Alphabet reported revenue of $109.9 billion (+22%) and EPS of $5.11, crushing consensus. Meta posted revenue of $56.31 billion (+33%) with operating income of $22.8 billion. Capex guidance was raised to $125-145 billion for Meta and $175-185 billion for Alphabet.