), the enterprise software giant is scheduled to report their fiscal Q3 ’24 financial results after the bell on Thursday, April 25th, 2024.
Q4 ’23’s current consensus is 7% expected growth in EPS, 10% growth in operating income, and another 15% expected growth in revenue. What was interesting about the December ’23 quarter for Microsoft, was that “cash & equivalents” fell $62 billion, since Microsoft’s acquisition of Activision was an all-cash deal, and it closed in October ’23. Microsoft’s cash position of $81 billion is now where it was in 2013.Looking at the last few quarters for Microsoft, Azure has returned to a 28% run rate, and AI is starting to have an impact on Azure.
While that’s a positive, the ultimate proof is in the numbers for Microsoft, and frankly, it was good to read in fiscal Q1 and Q2 this year, that AI is already making a contribution to Azure. Microsoft’s Intelligent Cloud segment is now 42% of total Microsoft revenue and 48% of total Microsoft income, so Intelligent Cloud is now almost half of Microsoft’s total business, which is pretty amazing since it’s only 14 years old .
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