03:50 PM EDT, 05/01/2025 (MT Newswires) -- Tech stocks were higher late Thursday afternoon, with the Technology Select Sector SPDR Fund (XLK) adding 2.2% and the SPDR S&P Semiconductor ETF (XSD) gaining 2.4%.

The Philadelphia Semiconductor index rose 1.2%.

In corporate news, Roblox ( RBLX ) raised its 2025 bookings outlook after it topped Wall Street's expectations for the metric in Q1 amid a growing user base. Its shares rose 2.7%.

Olo (OLO) climbed 14%. The company is considering a potential sale to interested suitors, Bloomberg reported late Wednesday.

Microsoft ( MSFT ) shares surged 8.6%. The company's fiscal Q3 earnings and sales rose more than analysts expected, partly on demand for cloud products.

Meta (META) shares rose 4.9%. The company's Q1 earnings and revenue climbed more than Wall Street expected, and several investment firms raised their price targets on the stock.