Microsoft Gained Nearly 4% in Premarket Trading As Its Cloud Business Showed Higher Than Expected Growth
Tiger Newspress2023-10-25
Microsoft gained nearly 4% in premarket trading as its cloud business showed higher than expected growth.
It said fiscal first-quarter profit was $2.99 per share, above analyst estimates of $2.65 per share. Azure revenue rose 29%, higher than a 26.2% growth estimate. For its fiscal second quarter, Microsoft forecast an Azure growth rate of 26-27% in constant currency.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.