News Formal

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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

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.

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:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft stock pops as earnings beat, Azure growth holds up better than expectedMicrosoft reported fiscal third-quarter profit of $18.3 billion, or $2.45 a share, up from $2.22 a share a year ago. $MSFT jumped in after-hours trading Tuesday after the software giant reported better profit and revenue than expected:
Source: MarketWatch - 🏆 3. / 97 Read more »

Microsoft earnings beat as cloud growth comes in better than fearedMicrosoft's revenue from Azure and other cloud services topped analysts' estimates.
Source: CNBC - 🏆 12. / 72 Read more »