Microsoft (MSFT) third quarter 2024 earnings report | Wilnesh News

Microsoft Financial results for the fiscal third quarter will be released after the market close on Thursday.

According to the London Stock Exchange (LSEG), analysts are looking for the following:

• Earnings per share: Estimated $2.82
• income: Estimated US$60.8 billion

This represents revenue growth of 15.0% year over year, slightly higher than the 14.5% forecast given by management in January. Technology industry research firm Gartner expected PC shipments to grow 0.9% this quarter, but analysts later lowered their expectations. This data point considers the sale of Windows operating system licenses to PC manufacturers.

Analysts surveyed by CNBC expect the growth of Azure cloud services to slow to 28.8% from 30% in the previous quarter. StreetAccount’s consensus for Azure’s growth is 28.6%.

This quarter, Microsoft launched Surface PC with fast access to Copilot chatbot keys. The company began selling access to Copilot to small businesses through Microsoft 365 productivity software subscriptions, and hired Mustafa Suleyman, co-founder of artificial intelligence laboratory DeepMind, to run the new Microsoft AI team. Suleyman was co-founder and CEO of startup Inflection, where many employees also joined Microsoft.

“We have been operating with speed and intensity, and this infusion of new talent will allow us to accelerate again,” Chief Executive Satya Nadella wrote in a memo about the Inflection deal. It is said Valued at US$650 million.

This marks the first full quarter of sales of the Copilot add-on to commercial Microsoft 365 customers. Piper Sandler analysts warned clients not to expect too many financial details from Microsoft in a report Sunday.

Microsoft shares are up 4% so far this year, while the S&P 500 is up about 5%.

Executives will review the results and issue guidance during a conference call with analysts beginning at 5:30 p.m. ET.

This story is developing. Please check back for updates.