Satya Nadella Says Azure Search, Also Used By ChatGPT, Is 'One Of The Fastest-Growing Services' For Microsoft
Portfolio Pulse from Ananya Gairola
Microsoft CEO Satya Nadella highlighted the strong demand for Azure, especially in AI, during the third-quarter earnings call. Azure Search, used by ChatGPT, is among the fastest-growing services. Microsoft's Q3 revenue rose 17% year-over-year to $61.9 billion, surpassing estimates. Azure is closing the gap with Amazon Web Services, with predictions of its growth accelerating to 29%-30% year-on-year. Microsoft shares were up 4.31% in after-hours trading.
April 26, 2024 | 3:55 am
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POSITIVE IMPACT
Microsoft's Q3 earnings exceeded expectations with a 17% revenue increase and Azure's strong performance, particularly in AI and Azure Search, driving growth.
The positive earnings report and the highlighted growth in Azure's AI and Azure Search services contribute to a bullish outlook for Microsoft's stock in the short term. The after-hours stock price increase reflects investor optimism.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100