Professional
PL
Open account Try free demo
Call: +357 25023910 Mail: support@gomarkets.eu
Login Open CFD account
Login Open CFD account
PL
Professional
Login Open CFD account
News & Analysis
Try free demo Open account
News & Analysis
Try free demo Open account

Microsoft posts better-than-expected results

26 April 2023 By Klavs Valters

Share

US technology giant Microsoft Corporation (NASDAQ: MSFT) released the latest financial results for the quarter ended March 31, 2023, after the market closed in the US on Tuesday.

Company overview

  • Founded: April 4, 1975
  • Headquarters: Washington, United States
  • Number of employees: 221,000 (2022)
  • Industry: Information technology
  • Key people: Satya Nadella (executive chairman and CEO), Brad Smith (vice chairman and president), Bill Gates (technical adviser)

The results

Microsoft reported revenue that beat analyst estimates at $52.857 billion (up by 7% year-over-year) vs. $51.019 billion.

Earnings per share also topped expectations at $2.45 per share (up by 10% year-over-year) vs. $2.239 per share estimate.

Company commentary

Satya Nadella, chairman and CEO of Microsoft commented on the rise of AI and highlighted company’s focus on the software: ”The world’s most advanced AI models are coming together with the world’s most universal user interface – natural language – to create a new era of computing.”

”Across the Microsoft Cloud, we are the platform of choice to help customers get the most value out of their digital spend and innovate for this next generation of AI.”

Amy Hood, executive vice president and CFO highlighted Microsoft Cloud’s revenue for the quarter which increased year-over-year: ”Focused execution by our sales teams and partners in this dynamic environment resulted in Microsoft Cloud revenue of $28.5 billion, up 22% (up 25% in constant currency) year-over-year.”

Share of Microsoft were down by -2.25% on Tuesday at $275.33 before the results were announced.

The stock rose by around +4% in the after-hours trading as results beat estimates.

Stock performance

    • 1 month: +0.07%
    • 3 months: +13.79%
    • Year-to-date: +14.84%
  • 1 year: +1.92%

Microsoft price targets

  • Bank of America: $320
  • Citigroup: $332
  • Jefferies: $325
  • Goldman Sachs: $325
  • Cowen & Co.: $300

Microsoft Corporation is the 3rd largest company in the world with a market cap of $2.050 trillion, according to CompaniesMarketCap.

You can trade Microsoft Corporation (NASDAQ: MSFT) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.

Sources: Microsoft Corporation, TradingView, MarketWatch, MetaTrader 5, TipRanks, CompaniesMarketCap, Wikipedia

 

Ready to start trading?

Try free demo Open account

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.