- Microsoft (NASDAQ:MSFT) guided Q2 on the earnings call last night with revenue from $31.9B to $32.7B (consensus: $32.25).
- Guidance by segment: Productivity and Business Processes, $9.95B to $10.15B (consensus: $10.03B); Intelligent Cloud (now with GitHub), $9.15B to $9.35B ($9.16B); More Personal Computing, $12.8B to $13.2B ($10.18B).
- Earnings call transcript.
- Wedbush is out positive on Microsoft’s earnings report, saying the company “just delivered an eye popping cloud beat and a performance that speaks to a secular cloud story which is still in the early innings of playing out and supports our thesis that core enterprise cloud spending is actually accelerating into 2019.”
- The firm says Microsoft is “front and center along” along with Amazon (NASDAQ:AMZN) Web Services in a “two horse race.”
- Wedbush reiterates its Outperform rating and $140 price target.
- Source: Research note.
- Microsoft shares are up 3% premarket to $105.36.
- Previously: Microsoft +2.9% on Q1 strength in cloud, Surface, and gaming (Oct. 24)
- Now read: Software Stocks: Near-Term Capital Gain Prospects
Original article