Microsoft shares fell more than 6% after disappointing cloud revenue results.
) announced its fiscal fourth quarter earnings after the bell on Tuesday, beating on the top and bottom lines, but missing on Cloud revenue expectations, sending shares of software giant tumbling following the report.
Microsoft's overall Cloud revenue came in at $36.8 billion, in line with expectations of $36.8 billion, but the company's Intelligent Cloud revenue, which includes its Azure services, fell short, coming in at $28.5 billion versus expectations of $28.7 billion.earnings announcement last week Still, Google didn’t offer specific numbers on the impact of AI on the cloud business, leaving some analysts like UBS Global Research’s Stephen Ju to predict that revenue benefits from the company’s AI spending might not come until the first half of 2025 at the earliest.
“In terms of share shifts among AWS, Microsoft Azure, and Google Cloud, the most consistent theme in this round of checks was the number of customers and partners that cited share gains by Microsoft resulting from its early lead on the AI front,” Keirstead wrote in a recent note about the three major cloud players.
Microsoft Earnings Per Share Google Cloud Fourth Quarter Earnings
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft outage: Some travellers stranded at Toronto Pearson, Billy Bishop airports dPorter Airlines has cancelled flights until 3 p.m. Friday due to a global IT outage, leaving some travellers in Toronto with their vacation plans up in the air.
Read more »
Worldwide tech failure plays havoc with flights, banks, hospitals, informationUpdate issued by cybersecurity firm CrowdStrike affected computers running Microsoft Windows
Read more »
Microsoft outage: Some travellers stranded in TorontoPorter Airlines has cancelled flights until 3 p.m. Friday due to a global IT outage, leaving some travellers in Toronto with their vacation plans up in the air.
Read more »
'Very dicey': Some travellers stuck at Toronto Pearson, Billy Bishop airports due to Microsoft outagePorter Airlines has cancelled flights until 3 p.m. Friday due to a global IT outage, leaving some travellers in Toronto with their vacation plans up in the air.
Read more »
Crowdstrike-Microsoft outage is what happens when software becomes a subscriptionThe Microsoft outage, caused by an errant update from the cybersecurity provider CrowdStrike, illustrates several problems with our current infrastructures
Read more »
Global tech outage: Microsoft VP explains what went wrongIt's a software update that had huge repercussions. All around the globe, companies have faced technology troubles after an update from cybersecurity firm...
Read more »