Microsoft kicked off tech earnings season and the stock jumped after revenue topped estimates.
Microsoft reported fiscal third-quarter results on Wednesday, and the stock jumped more than 3% on better-than-expected earnings and revenue.Microsoft shares are trading near a record after rallying 34% over the past year. The stock climbed past $130.50 in extended trading, pushing the market cap over $1 trillion.
Azure's revenue surged 73%. Microsoft's commercial cloud business, which includes Azure, grew 41% in the quarter to $9.6 billion. While Azure is still much smaller than rival Amazon Web Service, Stifel analysts say it's growing faster than AWS was at a similar size. Microsoft said on the earnings call that revenue in the fiscal fourth quarter will be $32.2 billion to $32.9 billion. Analysts expected $32.6 billion, according to Refinitiv.
"The tide has turned significantly for MSFT on the 'game changing' $10 billion JEDI Beltway cloud deal for the Pentagon with our work in the field indicating this bake-off is now a toss-up and even odds between Bezos and Nadella vs. the slam dunk win for AWS that it appeared to be roughly a year ago," wrote Daniel Ives, an analyst at Wedbush, who recommends buying Microsoft shares.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Microsoft tops $1 trillion as it predicts more cloud growthMicrosoft Corp on Wednesday briefly topped $1 trillion in value for the first ti...
और पढो »
Microsoft becomes a $1 trillion company after reporting earnings that blew away Wall Street estimatesMicrosoft is within striking distance of a $1 trillion market cap, making its quarterly earnings more important than ever.
और पढो »
Microsoft heads toward $1 trillion valuation after earningsMicrosoft Corp. shares rose in the extended session Wednesday, pushing the tech giant toward a $1 trillion valuation as cloud growth continues to boost the...
और पढो »
Boeing's stock swings higher after Q1 results, which include $1 billion increased cost for 737 businessBoeing Co.'s commercial airplanes business suffered first-quarter declines in profit, revenue and margin in the wake of groundings of its 737 MAX planes...
और पढो »
SoftBank to invest $1 billion for a 6% stake in payments firm WirecardSoftBank will invest 900 million euros into German fintech firm Wirecard, as part of a strategic partnership on digital payments.
और पढो »
Beyond Meat looks to raise $183.8 million in its IPOBeyond Meat plans to be valued at more than $1 billion after its initial public offering.
और पढो »
This is how long $1 million in retirement really lastsGoBankingRates compared average expenses for people age 65 and older, including groceries, housing and health care, to determine how long $1 million would really last in retirement.
और पढो »
Weed entrepreneur brings in over $1 million a year running 'bud and breakfast' hotelsWeed entrepreneur brings in over $1 million a year running 'bud and breakfast' hotels. via CNBCMakeIt
और पढो »
Toyota, SoftBank, and Denso are betting $1 billion on Uber's AVsTelecom SoftBank, auto components supplier Denso, and automaker Toyota have collectively invested $1 billion in Uber's autonomous vehicle biz unit.
और पढो »
Wirecard lands $1 billion investment from Japan's SoftbankJapan's Softbank Group Corp will buy a 5.6 percent stake in Wirecard for ar...
और पढो »
Boeing abandons financial outlook, sees $1 billion in extra cost on 737 MAXBoeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybac...
और पढो »