Microsoft results top targets, driven by AI investment

Executives forecast ranges for current quarter cloud revenue that were mostly above Wall Street targets.

"Microsoft's AI-powered earnings demonstrate that doubling down on innovation is paying off," said Jeremy Goldman, senior director of briefings at Emarketer, pointing to the company's early moves in generative AI, such as its large investment in ChatGPT maker OpenAI. The stock has soared on Microsoft shipping generative AI tools based on its strategic partnership with OpenAI and also helped it capture the world's most valuable company crown from Apple this year.

It forecast fourth quarter intelligent cloud revenue of $28.4-28.7 billion, mostly ahead of Wall Street targets of $28.47 billion.Microsoft forecast Azure growth in the fiscal fourth quarter would be 30%-31%, which would put it ahead of the 28.5% Wall Street target.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Wall Street recovery drives rise in global shares ahead of earnings reportsEuronext Dublin up just over 1% at close of business on ‘strong day’ for the market, traders say
Fuente: IrishTimes - 🏆 3. / 98 Leer más »

Wall Street strategist warns of stock market bubble driven by FedSociete Generale's Albert Edwards, a Wall Street strategist, warns that stocks are in a bubble due to the influence of the Federal Reserve. Other indicators of excess include cryptocurrency speculation, record-breaking highs, and rapid gains.
Fuente: IrishTimesBiz - 🏆 6. / 77 Leer más »