U.S. equity futures dipped late Wednesday as investors digest the latest round of hyperscaler earnings.
Nasdaq-100 futures lost 1.2%. S&P 500 futures declined 0.5%, while Dow Jones Industrial Average futures lost 17 points, or 0.03%.
In after-hours trading, Microsoft advanced 3% after growth in the software giant's Azure cloud infrastructure business helped it post beats on the top and bottom lines in the fiscal first quarter, per LSEG.
That contrasts sharply with Alphabet's 9% slide after adjusted earnings per share and revenue missed expectations in the third quarter, and the company posted negative free cash flow of $9.07 billion. The company kept its full-year capital expenditures forecast at $195 billion to $205 billion.
The results come at a time when the artificial intelligence trade is in focus. AI stocks, such as the iShares Semiconductor ETF (SOXX) and the Roundhill Memory ETF (DRAM), have been through a rough patch for most of October, only to perk up in recent days.