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As Wall Street Applauds “Excellent Execution” and a Bigger Implementation of AI, Microsoft Shares Increase

Wall Street analysts were very positive about Microsoft’s fiscal first-quarter earnings report, praising the company’s achievements in several areas as well as its earnings, such as the Azure cloud unit and the planned release of its artificial intelligence product, Copilot.

In pre-market trade on Wednesday, Microsoft shares increased by about 5%.

The business exceeded the LSEG average forecast of $2.65 by reporting profits per share of $2.99 on Tuesday. Additionally, the company exceeded the revenue estimate among analysts polled by LSEG, previously Refinitiv. Microsoft’s quarterly sales came in at $56.52 billion, exceeding the average expectation of $54.50 billion.

Prominent analysts praised robust revenue expansion and “reliable” performance. Brad Zelnick, an analyst at Deutsche Bank, stated in a report to clients on Wednesday morning, “We reiterate our Buy rating,” noting “earnings that overachieved on just about every available measure.” With the addition that Microsoft’s revenue beat was nothing short of remarkable, Zelnick increased his price estimate from $380 to $395, citing “operational discipline” and “a full-stack strategy to delivering AI solutions.”

Source (CNBC )

SourceCNBC
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