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Tech Companies Are Showing Positive Signs

Tech Companies Are Showing Positive Signs


The biggest tech companies in the world are shining during an otherwise harrowing earnings season, as cloud businesses get a boost from the spike in working from home and revenue stays resilient.T

he latest: 

Facebook (FB) shares have shot up 9% in premarket trading after the company posted $17.7 billion in revenue for the first three months of the year, beating Wall Street estimates, my CNN Business colleague Kaya Yurieff reports.

The company said it experienced a plunge in demand for ads in March but saw “signs of stability” during the first three weeks of April. Usage and engagement with its products has been high, though the company said it expects it will decline once stay-at-home orders lift.Microsoft (MSFT) also beat Wall Street’s forecasts, sending shares up 2% in premarket trading. The company benefitted from strong demand for cloud services, and said its remote working Teams app now has 75 million daily active users

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