Microsoft ends tradition of naming competitors in regulatory filings
Microsoft CEO Satya Nadella leaves after attending a meeting with Indonesian President Joko Widodo at the Presidential Palace in Jakarta, Indonesia, on April 30, 2024.
Willy Kurniawan | Reuters
Microsoft has abandoned a decades-long tradition of calling out the names of its rivals in regulatory documents.
When the 50-year-old technology company released its annual report Wednesday, the 101-page document contained zero references to longtime foes Apple and IBM. Nor did it mention privately held challengers such as Anthropic or Databricks.
Last year’s Microsoft annual report officially designated over 25 companies as competitors. The names of Microsoft’s enemies have appeared in its annual reports at least since 1994.
The omission means Microsoft is breaking from a common industry practice. Apple, Meta and Nvidia all namedrop the companies they go up against.
It’s not universally followed, though. Amazon has not identified competitors in annual reports since 1999. Tesla last did it in 2020, and Alphabet halted after 2022.
Now, Microsoft just says it faces competition in a wide variety of markets, including productivity software, PC operating systems and cloud infrastructure.
The more specific disclosures helped to show where companies stood with the biggest name in software. In 2024, Microsoft started referring to key partner OpenAI as a competitor, after the artificial intelligence startup introduced a web search feature.
A Microsoft spokesperson told CNBC that the company updated the competition portion of the annual report to address larger categories. The new format reflects the fast-moving nature of the markets in which the company operates, the spokesperson said.
That’s not to say Microsoft executives have stopped tracking developments at other technology companies.
CEO Satya Nadella referred to Amazon on Microsoft’s earnings call on Wednesday.
Scott Guthrie, executive vice president of Microsoft’s cloud and AI group, said at a conference in May that “there are some cloud providers, like AWS, that still haven’t launched a GB200 offering.”
Nvidia’s GB200 NVL72 systems include 72 interconnected graphics processing units.
Microsoft shares climbed Thursday, a day after the company issued quarterly results and guidance that came in better than expected. The stock move sent the company’s market capitalization past the $4 trillion mark.
Cheng Xin | Getty Images
Airbnb reported second-quarter results on Wednesday that beat analysts’ expectations.
Here’s how the company did based on average analysts’ estimates compiled by LSEG:
- Earnings per share: $1.03 vs. 93 cents expected
- Revenue: $3.10 billion vs. $3.04 billion expected
Revenue increased 13% from $2.75 billion during the same period last year. The company reported net income of $642 million, or $1.03 per share, up from $555 million, or 86 cents per share, a year earlier.
In the third quarter, Airbnb expects to report revenue of $4.02 billion to $4.10 billion, or $4.06 billion in the middle of the range. Analysts were expecting $4.05 billion for the period, according to LSEG.
In a letter to shareholders, the company said it had a strong second quarter, even against a volatile macroeconomic backdrop. U.S. President Donald Trump’s sweeping tariff and trade policies plunged markets into chaos for much of April.
“Despite global economic uncertainty early in the quarter, travel demand picked up, and nights booked on Airbnb accelerated from April to July,” the company said.
Airbnb reported 134.4 million nights and seats booked, up 7% from a year ago and above the 133.35 million expected by StreetAccount.
Gross booking value, which Airbnb uses to report host earnings, service fees, cleaning fees and taxes, totaled $23.5 billion in the second quarter. That figure is above the $22.66 billion expected by analysts polled by StreetAccount.
Airbnb said it received authorization for new share repurchase program of up to an additional $6 billion of Class A common stock. The company said it repurchased $1 billion of Class A common stock during the second quarter, and previously had authorization to purchase $1.5 billion more as of June 30.
Airbnb shares were down slightly in extended trading. They’ve slipped 0.7% for the year as of Wednesday’s close, while the Nasdaq is up almost 10%.
Airbnb will hold its quarterly call with investors at 4:30 p.m. ET.
Doordash food delivery service in New York City on Feb. 13, 2025.
Danielle DeVries | CNBC
DoorDash shares climbed about 5% in extended trading on Wednesday after the food delivery company reported better-than-expected earnings and revenue for the second quarter.
Here’s how the company did compared to analyst estimates based on LSEG’s consensus:
- Earnings per share: 65 cents vs. 44 cents expected
- Revenue: $3.28 billion vs. $3.16 billion expected
Revenue jumped 25% from $2.63 billion a year earlier, DoorDash said in a press release. The company reported net income of $285 million, or 65 cents a share, after recording a loss of $157 million, or 38 cents per share, in the same period a year ago.
Orders increased 20% from a year earlier to 761 million. Gross order value (GOV) rose 23% to $24.2 billion.
DoorDash shares have soared 54% this year as of Wednesday’s close, lifting the company’s market cap to $109 billion. The Nasdaq is up almost 10% in 2025.
Doordash one day stock chart.
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