From Nasdaq:

Microsoft’s stock (NASDAQ: MSFT) has seen an impressive gain of nearly 70% since the start of 2023, outperforming the S&P500 index. With its current price just over $400 per share, it is trading 4% below its fair value of $419, as per Trefis’ estimate for Microsoft’s valuation.

The company recorded a strong 18% y-o-y increase in net revenues to $62 billion in Q2 FY2024. This was driven by growth in productivity & business processes, intelligent cloud, and more personal computing segments. Operating expenses as a % of revenues decreased, resulting in a 31% jump in net income to $21.9 billion.

Revenues for the first six months of FY2024 rose by 15% y-o-y to $118.5 billion, with net income growing 30% y-o-y to $44.2 billion. Microsoft is expected to see continued momentum in Q3, with estimated annual revenues of $242.5 billion and a slight improvement in net income margin for the year, leading to a valuation of $419.



Read more: Up Nearly 70% Since The Beginning Of 2023, Where Is Microsoft Stock Headed?