2023-04-26 01:44:29 ET
- On heels of a solid quarterly print , Microsoft's ( NASDAQ: MSFT ) stock is jumping up +8.5% in the after-hours session on Tuesday.
- In Q3, Microsoft's revenue grew at 7% Y/Y, and management's outlook for Q4 FY2023 calls for Y/Y growth of 5.7-7.6%.
- For the fiscal fourth quarter, Microsoft finance chief Amy Hood called for $54.85 billion to $55.85 billion in revenue vs. $54.94B consensus, during a conference call with analysts.
- In company's presentation slide , it says FX to cut Q4 revenue growth by 2%. Further sees Q4: Intelligent Cloud revenue $23.6B-$23.9B; More Personal Computing revenue $13.35B-$13.75B; Productivity and Business Processes revenue $17.9B-$18.2B.
- It expects COGS to grow 3%-4% and expects to scale up CapEx in FY24 for AI and says FY24 OpEx growth 'will remain low'.
- Also, it excepts Q4 commercial bookings 'relatively flat'.
- Prior to Microsoft's ( MSFT ) results, reports came out saying that the company is planning to close its $69B acquisition of Activision ( ATVI ) despite an FTC lawsuit against the deal .
- Nadella's and Hood's comments came as Microsoft ( MSFT ) shares rose almost 9% in after-hours trading following what was a better-than-expected fiscal third-quarter earnings report .
For further details see:
Microsoft says A.I. will drive revenue growth; sees Q4 commercial bookings 'relatively flat'