What's Going On With Microsoft Stock Wednesday?
Portfolio Pulse from Adam Eckert
Microsoft Corp (NASDAQ:MSFT) shares are trading lower following the company's fourth-quarter financial results. Despite beating revenue and earnings estimates, the stock faced selling pressure due to slightly lower-than-expected Azure growth. Analysts have mixed reactions, with some adjusting their price targets.
July 31, 2024 | 1:24 pm
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Microsoft reported Q4 revenue of $64.7 billion and earnings of $2.95 per share, both beating estimates. However, Azure growth of 29% fell short of the expected 30%, leading to selling pressure. Analysts have mixed reactions, with some adjusting their price targets.
Despite beating overall revenue and earnings estimates, the slight miss in Azure growth expectations led to selling pressure on MSFT shares. Analysts' mixed reactions and adjusted price targets indicate uncertainty in the short term.
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