Microsoft reported its third-quarter earnings for 2024 on Thursday, revealing key financial insights for investors. The company’s performance in this quarter is closely watched by analysts and investors alike.
Analysts anticipated an earnings per share of $2.82 and revenue of $60.80 billion. This expected revenue indicates a 15.0% year-over-year growth, slightly surpassing the initially forecasted 14.5% increase given by management in January.
One significant development in this quarter was the introduction of Surface PCs with a key feature enabling quick access to the Copilot chatbot. Additionally, Microsoft made strategic hires, such as Mustafa Suleyman, to lead a new AI group within the company.
Microsoft’s Azure cloud services, a key driver of growth, was expected to show a slight slowdown to 28.8% growth compared to the previous quarter. The company continues to focus on innovation and expanding its offerings to drive future growth.
Overall, Microsoft stock has seen a 4% increase year-to-date, slightly underperforming the broader S&P 500 index. The company’s executives will discuss the results and provide guidance during a conference call with analysts, shedding more light on Microsoft’s performance and future outlook.
This story is still developing, so stay tuned for any updates and further analysis on Microsoft’s third-quarter earnings performance.
