Company Interview / Market Update | Microsoft, Meta Platforms, Rio Tinto, Beach Energy, Origin Energy

Microsoft shares rose 7% in extended trading after the software company said sales at its Azure cloud-computing business beat expectations, surpassing $75 billion on an annual basis. Overall revenue rose 18%.

Meta Platforms forecast third-quarter revenue of up to $50.5 billion, well above Wall Street estimates as artificial intelligence continued to strengthen its core advertising business, sending its shares up 10% in extended trading. The company also raised the lower end of its capital expenses forecast for the year, while it expects its year-over-year growth rate to be slower than in the fourth quarter.

Rio Tinto shares fell in London and New York trade after the miner logged its smallest first-half profit in five years thanks to lower iron ore prices. First half profit fell 16% to US$4.81 billion. Rio's interim dividend dropped to US$1.48 - its lowest in seven years.

Beach Energy produced 4.6 5 million barrels of oil equivalent in the fourth quarter - with sales revenue coming in at $455 million -- down 17% on the third quarter. FY production rose 9% to just under 20 million barrels - with sales revenue up 13% to $2 billion. Beach Energy says flood levels have peaked in the Cooper Basin - however it expects continued impact on production during the first half of FY26.

Meanwhile Origin Energy posted a 6% sequential decline in fourth quarter revenue from its stake in the Australia Pacific LNG project... , as lower underlying commodity prices weighed on earnings. June quarter revenue fell 3% to $2.2 million. FY25 full-year production was down 25 while revenue was stable.

And AGL Energy has given the greenlight to its $800 million grid-scale battery project in the NSW Hunter region. AGL says construction work will begin in late 2025... with operations expected to commence in late 2027.