Microsoft Cloud strength drives Q4 results
Microsoft reports Q4 earnings that beat estimates and says: 'As we drive growth across the company, we remain committed to investing in long-term strategic opportunities.'
Microsoft Corp (All Sessions) Q4 earnings:
Revenue: $38.0 billion vs forecasts of $35.54 billion, up 13% year on year
Earnings per share: $1.46 vs an expected $1.37 per share, up from $1.37 in the same fiscal quarter last year.
Intelligent Cloud Revenue: $13.73 billion vs set. $13.11 billion
‘The last five months have made it clear that tech intensity is the key to business resilience. Organizations that build their own digital capability will recover faster and emerge from this crisis stronger,’ said Satya Nadella, chief executive officer of Microsoft. ‘We are the only company with an integrated, modern technology stack – powered by cloud and AI and underpinned by security and compliance – to help every organization transform and reimagine how they meet customer needs.’
The story of Microsoft’s growth over the past several years has been its Intelligent Cloud business, which includes its powerful Azure platform. Microsoft remains in the sweet spot of the cloud market and in the #2 position to Amazon Web Services (AWS).
Microsoft is up over 30% year-to-date, but after adding $380 billion in market cap, it’s now worth $1.5 trillion, making it the second most valuable company in the US, trailing only Apple.
Citing relatively strong checks for the quarter, RBC analysts boosted Microsoft’s price target from $200 to $240 with an Outperform rating, saying Microsoft can achieve double-digit revenue growth in in fiscal 2021 due to Azure's momentum.
Shares are trading lower in after-hours, after gaining over 1% during the cash session.
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