Microsoft beats on Q1 top and bottom lines on cloud strength

Published On Oct 30, 2024, 4:05 PM

Microsoft reported strong fiscal Q1 earnings, surpassing analysts' expectations. The company achieved earnings per share (EPS) of $3.30 on revenue of $65.6 billion, compared to expectations of $3.10 EPS and $64.5 billion in revenue. A significant growth driver was the cloud services sector, generating $38.9 billion in revenue, exceeding estimated figures. However, Microsoft faces heightened competition from other tech giants like Amazon and Google in the AI and cloud spaces. Despite a robust performance, Microsoft's stock has risen 28% in the past year, which lags behind the S&P 500's gain of 41%.