Microsoft and Meta shares fall in Frankfurt despite earnings beat

FILE PHOTO: The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo

MILAN (Reuters) - Frankfurt-listed shares in Microsoft and Meta both fell in early trading on Thursday, even as earnings at the two U.S. tech groups beat Wall Street expectations.

Microsoft predicted slower growth in its cloud business Azure and Facebook owner Meta warned of "significant acceleration" in artificial intelligence-related infrastructure expenses next year.

By 0711 GMT, Microsoft shares were down 5.1% in Frankfurt and Meta slipped 2.6%. As a result, Nasdaq futures dropped over 1%.

(Reporting by Danilo Masoni; Editing by Amanda Cooper)