Copyright Investor's Business Daily
Software giant Microsoft (MSFT) late Wednesday beat Wall Street's targets for its fiscal first quarter thanks to cloud computing and AI services. But Microsoft stock fell in extended trading. The Redmond, Wash.-based company earned an adjusted $4.13 a share on sales of $77.67 billion in the quarter ended Sept. 30. Analysts polled by FactSet had expected Microsoft to earn $3.67 a share on sales of $75.38 billion. In the year-earlier period, Microsoft earned $3.30 a share on sales of $65.59 billion. Microsoft's Azure cloud computing business saw revenue increase 40% year over year, beating the consensus estimate for 38% growth. On a constant currency basis, Azure revenue rose 39%. For the December quarter, analysts are looking for Microsoft earnings of $3.80 a share, up 18% year over year, on sales of $80.08 billion, up 15%. Earnings report details to follow. Microsoft Stock Is In Cup Base In after-hours trading on the stock market today, Microsoft stock sank more than 3% to 525. During the regular session Wednesday, Microsoft stock dipped a fraction to close at 541.55. Microsoft stock is in a cup base with a buy point of 555.45, according to IBD MarketSurge charts. That buy point is also the stock's all-time high, reached on July 31 after Microsoft's posted its fiscal fourth-quarter results. Microsoft stock is on two IBD lists: Long-Term Leaders and Tech Leaders. Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. YOU MAY ALSO LIKE: Garmin Stock Drops On Slight Sales Miss In Third Quarter, Blah Outlook Nvidia Stock Jumps As AI Chipmaker Touts Made-In-America Technology Discover Profitable Trades Each Day With MarketDiem. See How. Find Winning Stocks With MarketSurge Pattern Recognition & Custom Screens
