Microsoft Corp. (NASDAQ:MSFT) shares fell late Tuesday after the software giant’s cloud revenue missed forecasts and forward guidance came in shy of estimates of some analysts. Market watchers and analysts apparently weren’t overly concerned by what was perceived as sore spot by investors.
Future Perfect: The conference call was bullish, with CEO Satya Nadella and CFO Amy Hood talking about stronger commercial bookings for the June quarter and hinting at acceleration in Azure revenue in the second half of the year, of a 29% baseline growth, said Wedbush analyst Daniel Ives.
“This is the most important data point from the conference call in our opinion as MSFT discussed AI monetization trends that should accelerate in FY25 as more enterprise customers head down the Azure/Copilot and AI roadmap for their organizations,” the analyst said.
Ives termed the quarter as “fine,” but not a “blowout,” typical of Microsoft’s June quarter. It disappointed some investors, Ives said, making sense of the sell-off. The guidance for headline metrics was mostly in-line, he added.
“Nothing from …