NEW YORK—Wall Street roared back to life on April 30, 2025, with stocks catapulting higher after tech titans Microsoft and Meta delivered earnings reports that left analysts scrambling to keep up. The Nasdaq surged a blistering 2%, its best day in weeks, while the S&P 500 and Dow Jones climbed 1.3% and 0.9%, respectively, as investors piled into the rally. The spark? Blowout quarterly results from two of the market’s heaviest hitters, signaling that Big Tech’s growth engine is still firing on all cylinders.
Microsoft’s numbers hit like a thunderclap. The Redmond giant reported fiscal third-quarter revenue of $61.9 billion, up 17% from a year ago, blowing past Wall Street’s $60.8 billion forecast. Earnings per share clocked in at $2.94, topping estimates of $2.82. Cloud computing, the company’s golden goose, drove the surge, with Azure revenue spiking 50% year-over-year. Investors didn’t hesitate—Microsoft’s shares rocketed 8.5% in after-hours trading, dragging the broader tech sector along for the ride.
Meta, not to be outdone, dropped its own bombshell. The Menlo Park-based social media behemoth posted first-quarter revenue of $36.5 billion, a 27% jump from 2024, edging out the $36.2 billion analysts had penciled in. Earnings per share landed at $4.71, crushing expectations of $4.32. Cost-cutting moves, including layoffs and streamlined operations, padded margins, while ad revenue held strong despite a choppy digital market. Meta’s stock leapt 4.1% after the bell, fueling optimism that its pivot to efficiency is paying off.
The ripple effect was immediate. Tech-heavy exchange-traded funds like the Invesco QQQ Trust popped 1.8% in late trading. Smaller players like Nvidia and Amazon, though not reporting, rode the wave, each gaining over 2% as the sector caught fire. Even the Russell 2000, a gauge of smaller firms, eked out a 0.4% gain, hinting at broader market relief after weeks of trade-war jitters.
Behind the scenes, the numbers told a deeper story. Microsoft’s capital spending plans, far from slowing, are set to accelerate, with the company earmarking billions for AI and cloud infrastructure. Meta, meanwhile, signaled confidence in its advertising machine, projecting second-quarter revenue as high as $39 billion. Both companies shrugged off concerns about global supply chain snags, with executives citing robust demand and operational agility.
Trading floors buzzed with energy. By midday on April 30, volume on the New York Stock Exchange was 15% above its 20-day average, a sign of frenzied buying. Options activity spiked, with call options on Microsoft and Meta outpacing puts by a 3-to-1 ratio. The Cboe Volatility Index, Wall Street’s fear gauge, dipped 5%, reflecting a rare moment of calm after a turbulent month.
The rally wasn’t universal. Energy stocks lagged, with ExxonMobil and Chevron slipping 0.7% and 0.5% as oil prices wobbled. Bank stocks, including JPMorgan Chase, treaded water, up just 0.2%, as investors fixated on tech’s momentum. Still, the market’s breadth was solid—advancers outpaced decliners by nearly 2-to-1 on the NYSE.
As the closing bell loomed, the focus shifted to what’s next. Apple and Amazon are slated to report earnings on May 1, and Wall Street is watching closely to see if the tech rally has legs. For now, the numbers don’t lie: Microsoft and Meta have set the bar sky-high, and the market’s betting they’re not done climbing.
The Nasdaq closed at 15,983.08, up 318.62 points. The S&P 500 ended at 5,035.69, gaining 65.39 points. The Dow Jones Industrial Average finished at 38,085.80, rising 341.22 points. Microsoft’s market cap stood at $3.1 trillion, while Meta’s reached $1.2 trillion.