Microsoft reports earnings beat, says A.I. will drive revenue growth

CNBC April 25, 2023
Jordan Novet

Key Points

– Microsoft surpassed expectations on the top and bottom lines and beat estimates on quarterly revenue guidance.

– Growth from Azure and other cloud services slowed to 27% from 31% in the prior quarter but was still faster than expected.

Microsoft shares rose 9% in extended trading on Tuesday after the software maker issued fiscal third-quarter results and quarterly guidance that exceeded analysts’ predictions.

Here’s how the company did:

• Earnings: $2.45 per share, vs. $2.23 per share as expected by analysts, according to Refinitiv.
• Revenue: $52.86 billion, vs. $51.02 billion as expected by analysts, according to Refinitiv.

For the fiscal fourth quarter, Microsoft finance chief Amy Hood called for $54.85 billion to $55.85 billion in revenue,...

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