Stocks Analysis by Shane Neagle covering: Microsoft Corporation, Alphabet Inc Class A, Microsoft Corp, Microsoft Corp DRC. Read Shane Neagle's latest article on Investing.com
) reported results for the September quarter on Tuesday after market close. While Microsoft delivered another set of strong quarterly results, Alphabet’s cloud unit numbers missed analyst estimates.Microsoft’s FQ1 earnings report was closely watched as investors were looking for updates and hints about the demand for cloud services and new AI products. The Redmond-based tech giant reported a surge in profit thanks to a slower pace of operating expense growth.
Microsoft's Intelligent Cloud segment – which encompasses various key components like the Azure public cloud, SQL Server, Windows Server, etc. – demonstrated robust performance, generating $24.26 billion in revenue, reflecting a 19% increase and surpassing the $23.49 billion consensus among Street analysts.
In the More Personal Computing segment, which encompasses Windows, Xbox, Bing, and Surface, Microsoft reported $13.67 billion in revenue. This reflects a 3% increase YoY and a beat relative to the expectations of $12.85 billion. “In Azure, we expect revenue growth to be 26% to 27% in constant currency with an increasing contribution from AI. Growth continues to be driven by Azure consumption business, and we expect the trends from Q1 to continue into Q2,” said Hood.) shares were seen trading over 6% lower in early Wednesday trade after the online search behemoth reported weaker-than-expected results for its cloud segment. The company’s Q3 revenue jumped 11% YoY, which represents a return to double-digit growth.
CFO Ruth Porat said the revenue increase was driven by “meaningful growth in Search and YouTube, and momentum in Cloud.”
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