Good morning from Barbados…
MSFT, META and GOOGL all released earnings last night, and every one of them flexed the same muscles - spend more, build faster and worry about returns later?
MSFT posted solid numbers with Azure up 39% YoY in constant currency, commercial bookings up triple digits, and cloud backlog climbing. The standout was the $34.9B quarterly capex, almost 75% higher than last year. Stocks down -269bps pre-market.