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Microsoft stock plunges on an earnings and revenue beat, thanks to less-than-expected revenue from their Intelligent Cloud division.
Leading into Microsoft’s after-hours Tuesday earnings, analysts expected earnings of $2.94 per share and revenue of $64.5 billion.
The results? $2.95 and $64.7B, beats of $0.01 and $200 million. So why is the stock down?
Intelligent Cloud revenue (i.e., AI-related products included) was only up to $28.5 billion, a $200 million miss compared to analyst estimates. So, although the company beat earnings by $200 million, billions of dollars in stockholder equity was wiped out because one segment missed by $200 million. Interesting.
Microsoft Corp. announced robust financial results for the fourth quarter, which ended June 30, 2024, driven by strong performance in its cloud services and strategic business segments.
Satya Nadella, Chairman and CEO, highlighted the company’s continuous innovation and customer trust, emphasizing Microsoft’s leadership in the AI era. Amy Hood, EVP and CFO, noted the record bookings and strong growth in Microsoft Cloud revenue.
Productivity and Business Processes:
Intelligent Cloud:
More Personal Computing:
Microsoft returned $8.4 billion to shareholders through share repurchases and dividends during the fourth quarter.
Richard Branson’s Virgin Voyages is offering the deal of the year, letting you upgrade your room and get additional discounts aboard luxury adult cruises.
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