Microsoft's Positive Earnings Report Drives Stock Price Up
Strong Earnings per Share Exceed Expectations
On April 19th, Microsoft Corporation (MSFT) released its earnings report for the quarter ending March 31st, 2024. The report revealed strong financial performance, with earnings per share (EPS) reaching $2.94, surpassing analysts' estimates of $2.82.
Revenue Growth and Strong Performance
The company's revenue also grew significantly, driven by strong demand for its cloud computing services, including Azure and Office 365. Microsoft's cloud revenue increased by 30% year-over-year, reaching $23.2 billion for the quarter.
Overall, Microsoft's financial results exceeded expectations, leading to a rise in its stock price. At the close of trading on April 19th, MSFT shares were up 1.27%, reaching a price of $399.12.
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