Microsoft reports earnings beat, says A.I. will drive revenue growth
Publishing timestamp: 2023-04-25 21:26:35
Summary
Microsoft beat expectations on earnings, revenue, and quarterly guidance, with growth from Azure and other cloud services still faster than expected. The company's finance chief is bullish on artificial intelligence and plans to invest in cloud infrastructure, particularly AI-related spend. Revenue from the Intelligent Cloud business segment and the Productivity and Business Process segment both exceeded analyst expectations, while revenue from the More Personal Computing segment was down but still beat expectations. Microsoft also announced a new investment in OpenAI and plans to use its AI models for Bing and Microsoft 365. Microsoft shares rose 9% in extended trading.
Sentiment: POSITIVE
Tickers: MSFT,
Keywords: microsoft corp, breaking news: technology, business, business news, enterprise, technology, breaking news: earnings, dividends, earnings, satya nadella,
Source: https://www.cnbc.com/2023/04/25/microsoft-msft-q3-earnings-report-2023.html