Microsoft reported fiscal third-quarter results on Wednesday, and the stock jumped more than 3% on better-than-expected earnings and revenue.Microsoft shares are trading near a record after rallying 34% over the past year. The stock climbed past $130.50 in extended trading, pushing the market cap over $1 trillion.
Azure's revenue surged 73%. Microsoft's commercial cloud business, which includes Azure, grew 41% in the quarter to $9.6 billion. While Azure is still much smaller than rival Amazon Web Service, Stifel analysts say it's growing faster than AWS was at a similar size. Microsoft said on the earnings call that revenue in the fiscal fourth quarter will be $32.2 billion to $32.9 billion. Analysts expected $32.6 billion, according to Refinitiv.
"The tide has turned significantly for MSFT on the 'game changing' $10 billion JEDI Beltway cloud deal for the Pentagon with our work in the field indicating this bake-off is now a toss-up and even odds between Bezos and Nadella vs. the slam dunk win for AWS that it appeared to be roughly a year ago," wrote Daniel Ives, an analyst at Wedbush, who recommends buying Microsoft shares.
We like the work that you do, keep it coming. check out partnerts instactyptonews , they have a great account and we working together on developing super fast tweets & news delivery .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft tops $1 trillion as it predicts more cloud growthMicrosoft Corp on Wednesday briefly topped $1 trillion in value for the first ti... cartel.
Source: Reuters - 🏆 2. / 97 Read more »
Microsoft becomes a $1 trillion company after reporting earnings that blew away Wall Street estimatesMicrosoft is within striking distance of a $1 trillion market cap, making its quarterly earnings more important than ever. Shit... is it now safe to pirate Windows Vista ? Uhh, forgot about the Dutch East India Company?
Source: BusinessInsider - 🏆 729. / 51 Read more »
Microsoft heads toward $1 trillion valuation after earningsMicrosoft Corp. shares rose in the extended session Wednesday, pushing the tech giant toward a $1 trillion valuation as cloud growth continues to boost the... Ridiculous! There’s only $1.6 trillion of US currency in circulation around the entire world! No company is worth that kind of money! We’re living in a fake bubble inflated stock market Which is going to wipe out millions and millions Amazing seeing how Azure has impacted $MSFT, especially with so many companies working in the cloud-related market! Think where they’d be if they’d replaced Balmer a decade ago.
Source: MarketWatch - 🏆 3. / 97 Read more »
Boeing's stock swings higher after Q1 results, which include $1 billion increased cost for 737 businessBoeing Co.'s commercial airplanes business suffered first-quarter declines in profit, revenue and margin in the wake of groundings of its 737 MAX planes... $BA is not a stock which could grow.. Beautiful! 'Boeing's stock has gained 4.4% over the past three months through Tuesday, while the Dow Jones Industrial AverageDJIA+0.55% has gained 8.6%...'
Source: MarketWatch - 🏆 3. / 97 Read more »
SoftBank to invest $1 billion for a 6% stake in payments firm WirecardSoftBank will invest 900 million euros into German fintech firm Wirecard, as part of a strategic partnership on digital payments. 2018 was Record - Breaking year for crypto exchange hacks. Do not let it happen to you , Get your Ledger Nano X at promotional price directly from Ledger website.
Source: CNBC - 🏆 12. / 72 Read more »
Beyond Meat looks to raise $183.8 million in its IPOBeyond Meat plans to be valued at more than $1 billion after its initial public offering. $bynd So eager to cash out! I'm still waking up.... but this company is interesting to me.
Source: CNBC - 🏆 12. / 72 Read more »
This is how long $1 million in retirement really lastsGoBankingRates compared average expenses for people age 65 and older, including groceries, housing and health care, to determine how long $1 million would really last in retirement. You are planning for the money that we don’t have Democratics who a need not democratics then continue so the country is sleeping more so the word of blessing and grieving are those that are not peeting why trouble yourself with saving hundreds of thousands in retirement when you can just die
Source: CNBC - 🏆 12. / 72 Read more »
Weed entrepreneur brings in over $1 million a year running 'bud and breakfast' hotelsWeed entrepreneur brings in over $1 million a year running 'bud and breakfast' hotels. via CNBCMakeIt MakeIt Wake & Bake's MakeIt WAKE AND BAKEFAST
Source: CNBC - 🏆 12. / 72 Read more »
Toyota, SoftBank, and Denso are betting $1 billion on Uber's AVsTelecom SoftBank, auto components supplier Denso, and automaker Toyota have collectively invested $1 billion in Uber's autonomous vehicle biz unit. Cost to operate and maintain just one fleet in a major metropolitan area, $1billion a year! Yeah good luck with all that 😂
Source: BusinessInsider - 🏆 729. / 51 Read more »
Wirecard lands $1 billion investment from Japan's SoftbankJapan's Softbank Group Corp will buy a 5.6 percent stake in Wirecard for ar...
Source: Reuters - 🏆 2. / 97 Read more »
Boeing abandons financial outlook, sees $1 billion in extra cost on 737 MAXBoeing Co on Wednesday abandoned its 2019 financial outlook, halted share buybac... Did I hear correctly that the problems with Boeings 737 Max are much more than just the software. Something to do with the position of the engines – and even the engines themselves. Boeing Head guy just got on Board of Directors for Tesla Space X. Well there goes the neighbourhood...as the Martians say!🤣🤣🤣
Source: Reuters - 🏆 2. / 97 Read more »