Microsoft Corp. rode better-than-expected growth in its Azure cloud-computing unit to sizable revenue and earnings beats Tuesday, and its shares were moving higher in the aftermarket.
Microsoft’s cloud-computing unit, dubbed Intelligent Cloud, saw a 19% bump in revenue to $24.3 billion. Analysts were looking for $23.5 billion.Overall revenue rose to $56.5 billion from $50.1 billion a year before, while analysts were modeling $54.5 billion. Microsoft recorded $18.6 billion in revenue for its productivity and business processes unit, up 13% from a year earlier, or up 12% on a constant-currency. That segment of the business includes LinkedIn and Office. Analysts had been looking for $18.2 billion in segment revenue.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft earnings on deck with AI boost, Azure cloud growth in focusMicrosoft MSFT shares moved higher in pre-market trading ahead of the tech giant's first quarter earnings after the closing bell. Microsoft, which effectively fired the starting gun on this year's AI frenzy with a $10 billion investment in ChatGPT creator OpenAI, is likely to provide ...
Read more »
Here's what we hope to see from AI powerhouse Microsoft's quarterly earnings this weekWhen the software giant reports on Tuesday, investors will be looking to see whether its big bet on artificial intelligence is paying off.
Read more »
Tech's Biggest Earnings Week Is HereMicrosoft and Alphabet kick off a big week of Big Tech earnings Tuesday.
Read more »
Nintendo Boss Comments on Microsoft Relationship Following Leaked Acquisition EmailNintendo of America president Doug Bowser says the company's relationship with Microsoft remains 'great.'
Read more »
Microsoft, Alphabet earnings, Bitcoin, PMI data - what's moving marketsMicrosoft, Alphabet earnings, Bitcoin, PMI data - what's moving markets
Read more »
Stock Market Today: Dow Futures Rise; Bitcoin JumpsEarnings seasons heats up again, with Microsoft and Google parent Alphabet among the companies reporting
Read more »