Microsoft Shares Up 4% on Better Than Expected Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/MSFT'>Microsoft Corporation (NASDAQ:MSFT) </a>shares closed more than 4% higher today following the company’s Q3 results, with better-than-expected EPS of $2.22 (vs. Street’s $2.18) and revenue of $49.4 billion (vs. Street’s $49.03 billion). Azure Cloud revenue accelerated to 49% constant-currency growth from 46%.</p>
<p>Consolidated guidance was also solid and in line with expectations, relieving investor trepidation about macro. Analysts at Oppenheimer made only very modest changes to their model, increasing the full 2023-year EPS estimate by $0.03 while reiterating their $340 price target on the company’s shares. Analysts said that macro challenging will remain concerning, but view the company as relatively advantaged with a powerful platform directly benefiting from the digital transformation mega trend, while offering compelling value to enterprises, with Microsoft 365 having a 60% price advantage vs. point solutions.</p>

NASDAQ:MSFT