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February 4, 2024
Microsoft profit soars 33% on AI, cloud-computing investments
Summary
"Microsoft Q4 profit rocketed 33% due to AI, cloud-computing investments, primarily in cloud-computing unit. Net income was $21.87 billion, exceeding expected $2.79/share. Revenue surged 18% to $62.02 billion, surpassing predictions. Microsoft’s expected ad revenue growth is 12%, potentially adding $14.93 billion in worldwide ad revenues. The results include Activision Blizzard's finances, acquired for $69 billion. The merger increased revenue growth by four points but trimmed operating profits by $440 million. Despite initial share drop, analysts believe investors are worried about Microsoft's aggressive investment plans."
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