Microsoft's Quarter Is a "Drop the Mic Moment" As Azure, AI Lead the Way: Analysts

Seeking Alpha04-26

Microsoft's (NASDAQ:MSFT) fiscal third-quarter results and guidance received wide praise on Wall Street as the tech giant continues to demonstrate its ability to monetize artificial intelligence in ...

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href=https://seekingalpha.com/news/4094793-microsofts-quarter-is-a-drop-the-mic-moment-as-azure-ai-lead-the-way-analysts><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Microsoft's (NASDAQ:MSFT) fiscal third-quarter results and guidance received wide praise on Wall Street as the tech giant continues to demonstrate its ability to monetize artificial intelligence in ...</p>\n\n<a href=\"https://seekingalpha.com/news/4094793-microsofts-quarter-is-a-drop-the-mic-moment-as-azure-ai-lead-the-way-analysts\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0127658192.USD","symbol_name":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) 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for the company.\"Copilot conversions continue exploding with partners/customers lining up for further Copilot deployments to increase efficiencies and profitable growth with more use cases seen across the product portfolio as the AI Revolution heats up,\" Ives added. Ives has an Outperform rating and $500 price target on the stock.Shares rose 4% in premarket trading.Financial results, guidanceFor the period ending March 31, Microsoft (MSFT) earned $2.94 as sales rose 17% year-over-year to $61.86B. Included in that was $26.7B from its Intelligent Cloud division, which consists of its Azure cloud unit. Microsoft said Azure revenue grew 31% year-over-year and 31% in constant currency.Looking ahead, Microsoft expects fiscal fourth-quarter sales to be between $63.5B and $64.5B, compared to estimates of $64.57B. Included in that is $28.4B to $28.7B from Intelligent Cloud, with Azure growing between 30% and 31% in constant currency.Sigh of reliefOther Wall Street firms expressed praise for Microsoft's results, especially in light of concerns about the ability to monetize generative AI for some companies, rising inflation and broader concerns for the software sector.While the fiscal fourth-quarter outlook and early look at fiscal 2025 were seen as conservative, Citi analyst Tyler Radke said investors likely walked away from the conference call with more conviction on Microsoft's ability to execute profitably and its long-term growth prospects. Radke reiterated his Buy rating and raised his price target to $495 from $480.Others agreed with that sentiment, including J.P. Morgan analyst Mark Murphy, who raised his price target to $470 from $440, citing the company's ability to monetize Copilot and keep improving Azure.\"Overall, we think Microsoft continues to exhibit outstanding execution while simultaneously cementing its pole position as the AI leader and balancing profitability/growth trade-offs,\" Murphy wrote.While some believe the 7% growth rate from AI for Azure may be a \"little lackluster,\" KeyBanc analyst Jason Ader said it actually shows AI-related capacity constraints, as demand continues to outstrip supply. Ader reiterated his Overweight rating and $490 price target following the results.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430727345"}