Microsoft Corp.’s cloud-computing and Office software businesses fueled stronger-than-projected quarterly revenue growth, a sign that the company’s hefty investments in artificial intelligence are starting to pay off.
Thomas Martin, senior portfolio manager of GLOBALT Investments, joins us and gives his thoughts on Microsoft Q1 revenue beatings its estimates.
The Azure cloud computing division posted a 34% revenue gain in the quarter, adjusted for currency fluctuations. That decelerated slightly from the 35% growth in the previous period but was ahead of Microsoft’s earlier forecast, according to some analysts. Microsoft shares gained about 1% in extended trading following the report. They had closed up less than 1% to $423.53 in New York. The stock fell 3.7% in the quarter compared with a 5.5% increase in the Standard and Poor’s 500 Index, reflecting Wall Street concerns that Microsoft isn’t yet realizing sufficient gains from its AI investments, and may risk falling behind as rivals pile into the market.
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