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Microsoft reports earnings beat, says A.I. will drive revenue growth

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Microsoft shares up nearly 9% after bullish A.I. commentary on call

shares rose 9% in extended trading on Tuesday after the software maker issued fiscal third-quarter results and quarterly guidance that exceeded analysts' predictions.$2.45 per share, vs. $2.23 per share as expected by analysts, according to Refinitiv.For the fiscal fourth quarter, Microsoft finance chief Amy Hood called for $54.85 billion to $55.85 billion in revenue, during a conference call with analysts. The middle of the range, at $55.35 billion, implies 6.7% growth, topping the $54.

Net income rose 9% to $18.3 billion, or $2.45 per share, from $16.73 billion, or $2.22 per share, a year ago. Revenue increased 7% to $52.86 billion from $49.36 billion a year ago, according to aMicrosoft CEO Satya Nadella speaks at the company's Ignite Spotlight event in Seoul on Nov. 15, 2022.Revenue in Microsoft's Intelligent Cloud business segment, which includes the Azure public cloud, Enterprise Services, SQL Server and Windows Server, generated $22.08 billion in revenue.

 

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