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Meta soared more than 14 per cent after the bell, extending a long recovery in which Meta hit record highs in recent weeks for the first time in over two years.
Amazon's plan to acquire iRobot for $1.4 billion has been halted by European regulators, despite the company's strong fourth-quarter sales and revenue growth from generative AI features in its cloud and ecommerce businesses. AWS CEO Andy Jassy highlighted the incorporation of generative AI into many of its services, with the expectation that it will drive tens of billions of dollars of revenue in the coming years.
The company's shares surge as it reports a jump in users, ad sales and profits, despite Washington concerns.
:Amazon.com beat fourth-quarter revenue expectations on Thursday as new generative AI features in its cloud and ecommerce businesses spurred robust growth during the critical holiday period.Investors cheered the results, sending Amazon shares up as much as 8 per cent in trading after the market close.
"Amazon was a clear winner in the 2023 holiday season, thanks to its commanding presence over an extended shopping period and a renewed emphasis on speedier delivery and essential categories prioritized by consumers," said Insider Intelligence senior analyst Sky Canaves. He forecast Amazon expanding its U.S. ecommerce market share this year.