Microsoft Stock Climbs 5% as AI Spending Undershoots: Is Wall Street Rewarding Restraint?

Microsoft shares rose 4.7% in after-hours trading on Wednesday after the company beat forecasts and spent less than Wall Street expected. Capital spending came in at $39.37 billion, against a $45.93 billion estimate. Elsewhere in Big Tech, investors did the opposite. Alphabet spent $51.4 billion in its quarter, and its shares fell 8% after hours. Microsoft Beat Forecasts With a Smaller Bill Revenue reached $92.28 billion, above the $90.63 billion analysts expected. Adjusted earnings per share came in at $4.89, against a $4.73 estimate. The stock jumped to $555.33 from a $531.01 close, per Yahoo Finance data. The spending gap stands out. In July, Chief Financial Officer Amy Hood said spending this quarter would top $50 billion, according to BigGo .

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