Microsoft on Wednesday reported profits of $24.1 billion in the recently ended quarter, but shares slid on worries over its vital cloud computing business. Microsoft revenue grew to $69.6 billion and the amount of money taken in by its "intelligence cloud" unit climbed to $25.

Meta Platforms and most other U.S. stocks are rising Thursday following a rush of profit reports from some of the country’s most influential companies, but drops for Nvidia and Microsoft are keeping the market in check.

Microsoft reported second-quarter earnings and revenue that beat Wall Street estimates on Wednesday. The stock, however, was dropping. The company reported earnings of $3.23 a share on revenue of $69.