Microsoft easily topped analysts’ forecasts in its first quarter of 2024, as the world’s largest company continues to impress Wall Street.... Microsoft’s $2.94 earnings per share topped estimates of $2.82, according to FactSet, and its $61.9 billion in sales topped projections of $60.9 billion.
Crucially, Microsoft reported $12.5 billion in operating income in its AI-heavy intelligent cloud division, well above estimates of $12.1 billion.The release comes immediately after Microsoft stock suffered one of its biggest losses of the year, as shares slid more than 2% thanks to investor disappointment in Facebook parent Meta’s results on Wednesday spurred a wider tech selloff.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: