Microsoft shares up on AI trends
The Intelligent Cloud segment at Microsoft produced $24.26 billion in revenue, up 19% and above the $23.49 billion consensus. The unit is the main driver of the software giant’s artificial intelligence business.
In context group revenue totalled $56.52 billion, above forecasts of $54.50 billion. Revenue just from Azure jumped 29% during the quarter, faster than the 26% consensus among analysts.
(AI Video Transcript)
Lloyds Bank and Microsoft
Lloyds Bank and Microsoft have both reported good earnings, which has boosted their stock prices. However, Alphabet has disappointed investors with their cloud revenue figures, causing their stock price to drop. Despite some concerns, both Wall Street and European markets have seen gains, and Asian markets have also performed well overall.
Market volatility
There has been some volatility in the markets lately, but it hasn't had a big impact on stocks. The presenter believes that the market may start to go down, but it's important to watch out for a certain level of support in order to see where it may go from there. Some analysts have been pessimistic about the market, but many companies have been beating earnings estimates, such as Lloyds Bank, Porsche, and Deutsche Bank. However, there are still concerns about the economy and inflation.
The German IFO Business Climate Index and the Bank of Canada
The presenter discusses some upcoming economic data, including the German IFO Business Climate Index and the Bank of Canada interest rate announcement. They also talk about the US dollar compared to the Canadian dollar and the euro compared to the US dollar. In terms of stocks, Lloyds Bank is facing concerns about their future, Barclays is increasing their debt provision, and Mike Ashley has increased his stake in Boohoo, which has sparked speculation about his long-term plans.
Deutsche Bank
Deutsche Bank has reported higher income and plans to give more money back to shareholders. Porsche has also announced positive results and a positive outlook. Microsoft has had strong earnings, with their intelligent cloud segment being a big driver of revenue growth. Alphabet's revenue growth has improved, but their cloud revenue didn't meet expectations. Snap saw a boost in their stock price after reporting good earnings, but worries about the conflict in Gaza caused those gains to reverse. Oil prices have dropped for the fourth day in a row, while gold prices have stayed relatively stable.
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