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July 31, 2024, 17:53

🟦 Microsoft Falls After Cloud Numbers Disappoint In Q4 Earnings

👀 Microsoft (MSFT) released fresh earnings after the bell on Tuesday, beating on the top and bottom lines, but missing on cloud revenue expectations.

Microsoft: fiscal Q4 earnings:
💻Revenue: $64.7 bln (+15% YoY)
💻Net Income: $22.0 bln (+10% YoY)
💻Microsoft Cloud: $36.8 bln (+22% YoY)
💻Microsoft 365 subs: 82.5 mln (+10% YoY)

⏺Microsoft's overall cloud revenue came in at $36.8 billion, in line with expectations of $36.8 billion, but the company's Intelligent Cloud revenue, which includes its Azure services, fell short, coming in at $28.5 billion versus expectations of $28.7 billion.

⏺While Microsoft's cloud business missed expectations, overall revenue still rose 15% year over year. Intelligent Cloud revenue, meanwhile, increased 19% year over year.

According to UBS analyst Karl Keirstead, Microsoft has also been grabbing more market share from Google and Amazon.
🗣“In terms of share shifts among AWS, Microsoft Azure, and Google Cloud, the most consistent theme in this round of checks was the number of customers and partners that cited share gains by Microsoft resulting from its early lead on the AI front,”

⏺Although Azure's growth will continue to slow in the current quarter, investments in data centers and servers will allow the company to capitalize on demand and accelerate Azure's growth in Q2 2025.

⏺Currently, there is not enough capacity to meet customer demand for cloud and AI services.

💲MSFT
Current price - $416.40
YTD Perf - up 10.71%
Wall Street Target Price - 494.98
Buy/Hold/Sell - 57/3/0

📌This channel is owned by V3V Ventures

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