Microsoft benefits from high sales growth and exceeds analysts' expectations

Microsoft benefits from high sales growth and exceeds analysts' expectations

According to a report from finanzen.net, the US software company Microsoft achieved sales of $56.5 billion in the first quarter of the 2023/24 financial year, which corresponds to an increase of 13 percent compared to the previous year. Profit rose 27 percent to $22 billion and earnings per share were $2.99, above analysts' expectations.

The company continues to benefit from the high demand for cloud products and the boom in artificial intelligence. In particular, revenue growth for the Azure cloud platform increased from 26 percent in the last quarter to 29 percent. Microsoft has also invested in a partnership with the developer company Open AI in order to integrate their technologies into its own product range.

Brent Thill, analyst at Jefferies, assesses the quarterly figures positively and recommends Microsoft as a buy with a price target of $400. Despite Microsoft's strong rebound, the stock price of Alphabet, Google's parent company, fell 9.51 percent.

The results from Microsoft and Alphabet clearly show that Microsoft is ahead in the cloud business and in the field of artificial intelligence. Cloud services and artificial intelligence are playing an increasingly important role in the technology sector and are increasingly influencing the valuation of companies on the stock market.

Overall, Microsoft's quarterly figures are impressive and indicate positive developments in the areas of cloud and artificial intelligence.

Source: According to a report from www.finanzen.net