Microsoft Earnings reports, what to expect?
Microsoft Corp. said its growth remained subdued last quarter as economic concerns cooled consumer demand and corporate orders for the company’s software and cloud services.
Tweet on Microsoft earning reports
@Microsoft said revenue for the three months through March rose 7% from a year earlier.
That growth as well as the company’s outlook for the current quarter topped analysts’ expectations.#Microsoft #ai #stocks pic.twitter.com/Kjm40BDWSj— The_Journalbiz (@the_journalbiz) July 25, 2023
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The software giant said revenue for the three months through March rose 7% from a year earlier.
That growth as well as the company’s outlook for the current quarter topped analysts’ expectations, sending Microsoft’s share price sharply higher.
But last quarter’s results marked the second straight quarter below the company’s yearslong trend of double-digit percentage growth.
The cloud-computing business, the engine of Microsoft’s growth in recent years, has been decelerating after years of expansion. The company said revenue in its Azure cloud-computing business rose 27% in the latest quarter. That was in line with the average forecast of analysts surveyed by FactSet, and the company’s lowest quarterly growth ever.
Microsoft is scheduled to release quarterly results after the market closes Tuesday. Here’s what analysts are anticipating, according to FactSet:
- Earnings per share: $2.55
- Revenue: $55.49 billion
The company’s last earnings report reflected a deceleration in its cloud-computing business as firms have become more cautious about spending.
Microsoft has recently announced new artificial-intelligence-related offerings, as competition heats up in the tech sector.
Shares of Microsoft have climbed about 45% this year. The stock recently rose less than 1% in Tuesday’s regular trading session.
