Microsoft Stock ( NASDAQ:MSFT )
The steady but gradual expansion of Microsoft’s Azure cloud platform is likely to be the primary contributor to Microsoft’s ( NASDAQ:MSFT ) results for the fiscal year 2023, which are set to be released on January 24. Microsoft stock rose nearly 3% on Friday.
Microsoft anticipates sales from its Intelligent Cloud division, which includes Azure as a component, will rise between 22 and 24 percent to a range between 21.25 and 21.55 billion dollars during the company’s fiscal second quarter.
Microsoft warned that the company’s revenue growth from Azure, the cloud computing platform that has become one of the primary engines of its business, would slow by five percentage points in the fiscal second quarter. This was done while ignoring the effects of currency movements on the company’s financial results.
The Consensus Estimate for revenues from Intelligent Cloud is currently pegged at $21.4 billion, indicating a gain of 16.7% from the figure recorded in the same quarter a year ago.
Despite this, continued growth in Azure will drive top-line revenue growth. Demand for cloud infrastructure monitoring, web-based application performance management, and human capital management solutions is fueled by the rising migration of workloads to the cloud. This has largely driven the demand for the cloud service offered by Microsoft.
Microsoft’s cloud computing business section has been under close scrutiny after the company’s most recent quarter revealed that Azure’s growth had slowed to 35% from 50% a year earlier. As a result of large clients pausing their expenditure in response to the weakening economy, Microsoft expects its cloud computing business to see a slowdown during the comp...
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