We're upgrading Microsoft after earnings. The stock has pulled back enough lately

Microsoft delivered an overall strong quarter after Tuesday's market close, but a miss on Azure revenue growth put shares under pressure in extended-hours trading. Revenue increased about 15% year over year to $64.73 billion in its fiscal 2024 fourth quarter, beating the Street consensus estimate of $64.39 billion, according to data from LSEG. Earnings per share increased nearly 10% from last year to $2.95, ahead of EPS estimates of $2.93, LSEG data showed.

Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024.delivered an overall strong quarter after Tuesday's market close, but a miss on Azure revenue growth put shares under pressure in extended-hours trading.

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Microsoft Earnings: Stock Tanks As AI Business Growth Worse Than ExpectedDerek Saul is a New Jersey-based Senior Reporter on Forbes' news team. He graduated in 2021 from Duke University, where he majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper, joining Forbes soon thereafter.
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