Magnificent Seven giants Meta Platforms (NASDAQ: META), Alphabet (NASDAQ: GOOGL), and Microsoft (NASDAQ: MSFT) all reported earnings on Oct. 29. Based on after-hours trading, Meta clearly got the short end of the stick. Shares declined by more than 7% during that period. Meanwhile, Microsoft was approximately 3.5% lower, while Alphabet rose by a strong 6%.
However, this market reaction didn’t come because Meta’s underlying business posted disappointing results. The company’s topline growth was impressive, and several key performance indicators were powerful. However, as MarketBeat noted could happen in its Meta earnings preview, unexpected issues triggered a sharp downside move.
