Tech companies are showing resilience during the coronavirus storm [CNNMoney.com]
Meta Platforms, Inc. - Class A (FB)
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Source: CNNMoney.com
Tech companies are showing resilience during the coronavirus storm A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . London (CNN Business) 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. The 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 forecast
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