Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Wednesday, April 27, 2022 8:45:28 AM
By: TheStreet | April 27, 2022
• "When it comes to our commercial cloud offerings, we have significant advantages," said CEO Satya Nadella.
Microsoft (MSFT) shares leapt higher Wednesday after the tech giant forecast stronger-than-expected revenue growth for its key divisions, offsetting concerns over the pace of gains in its Azure cloud offering.
Microsoft said revenues for its Intelligent Cloud division, which houses Azure, would likely rise to $21.1 billion and $21.35 billion for the current quarter, with double-digit percentage gains in the group's coming fiscal year.
Third quarter revenues for Azure, its flagship cloud offering, rose 46% from last year -- but flat to the December quarter -- helping overall group sale rise 18% to a record $49.4 billion for the three months ending in March, Microsoft's fiscal third quarter. Microsoft's adjusted earnings rose 13.8% from last year to $2.22 per share, just ahead of the Street consensus forecast of $2.19 per share.
We’re winning tier one infrastructure workloads, leaders in every industry from Blackrock to Bridgestone to Lufthansa are all moving mission-critical workloads to Azure," CEO Satya Nadella told investors on a conference call late Tuesday. "Overall, we’re seeing larger more strategic Azure commitments from industry leaders including Boeing, Kraft, Heinz, U.S. Bank, and Westpac, who all chose our cloud to accelerate their digital transformations."
"If there is any macro headwind, where you have more value for less price means you win," he added. "And in our case, when it comes to our commercial cloud offerings, we have significant advantages on that across the stack"
Microsoft shares were marked 5.4% higher in pre-market trading to indicate an opening bell price of $284.80 each.
In terms of reporting segments, Productivity and business processes division revenues rose 17% to $15.8 billion, Microsoft said, while Intelligent Cloud revenues were up 26% to $19.1 billion. More Personal Computing revenues rose 11% to $14.5 billion.
"Microsoft’s results, guidance, and tone were bullish for Microsoft shares, and perhaps could serve to modestly help alleviate pervasive macro fears for software investors more broadly," said BMO Capital Markets analyst Keith Bachman, who carries and 'outperform' rating with a newly-improved $345 price target on the stock.
"We would not characterize Microsoft as inexpensive relative to low double-digit growth, but we nevertheless like the shares given the broad sources of revenue and core franchises, which we think can continue to drive durable double-digit free cash flow," he added.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent MSFT News
- AIG names new CFO; Progyny Drops 24% After Losing Key 2025 Contract; Exicure Jumps 190% With Nasdaq Extension • IH Market News • 09/19/2024 10:26:48 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:10:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:10:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:06:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:05:47 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:05:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:05:04 PM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Blackbaud and Microsoft's Tech for Social Impact Team Collaborating to Bring Sophisticated Cloud Technology, AI and Analytics to Nonprofits • PR Newswire (US) • 09/17/2024 05:00:00 PM
- Microsoft Boosts Share Buyback, Raises Dividends by 10%, Intel Secures Chip Deal with Amazon • IH Market News • 09/17/2024 10:40:35 AM
- Microsoft announces quarterly dividend increase and new share repurchase program • PR Newswire (US) • 09/16/2024 09:56:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:08:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:08:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:07:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:07:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:06:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:06:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:05:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 10:05:04 PM
- OpenAI Unveils Strawberry AI Model Series; Boeing Stock Falls 4% Amid Strike; HR Surges 20% on Growth Forecast • IH Market News • 09/13/2024 10:12:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 10:07:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 10:07:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/11/2024 10:06:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/10/2024 06:40:53 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/10/2024 04:00:41 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM