Microsoft's Azure cloud platform growth expected to boost Q4 earnings

From NASDAQ MarketSite: 2024-07-25 11:18:00

Microsoft is expected to report fourth-quarter fiscal 2024 results driven by growth in its cloud platform, Azure. The company anticipates Intelligent Cloud revenues between $28.4 billion and $28.7 billion. Azure revenue growth at cc is estimated to be between 30% and 31%, with increasing contributions from all Azure AI services.

Microsoft is experiencing strong demand for cloud solutions, driven by the migration of workloads to the cloud. In the fiscal third quarter, Azure and other cloud services revenue grew 31%, with 7 points from AI services. An increase in large Azure deals and the launch of new capabilities is expected to boost Microsoft’s competitive edge in the cloud market.

The company’s strategic partnership with OpenAI and growing number of Azure AI customers has enhanced its competitive position. Microsoft announced investments to strengthen AI-powered economic activity, innovation, and job creation in certain regions. Despite increasing competition, the company’s shares have gained 18.3% year to date.

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Read more at NASDAQ MarketSite: Microsoft’s (MSFT) Azure Cloud Prowess to Boost Q4 Earnings