#Microsoft #Google #yahoofinance
Microsoft (MSFT) reported its fiscal third quarter earnings after the bell on Tuesday, beating Wall Street's expectations. Despite concerns about a slowdown in the company's cloud business, Microsoft reported Azure and other cloud services experienced revenue growth of 27% year-over-year for the quarter. Rishi Jaluria, RBC Capital Markets Software Equity Analyst, explained that the numbers reported came in a “bit stronger than what people were worried about, especially given all the headlines around the softening I.T. environment.” Microsoft continues to face cloud competition from big tech competitors like Alphabet (GOOGL), which reported its Google Cloud unit turned a profit for the first time. Jaluria saying, "I know there was definitely worries about cloud saturation, but based on our checks, there is still a lot of low-hanging fruit left to migrate to the cloud."
See the full interview here.
Key video highlights:
00:00:11 - Microsoft earnings: better than everyone feared
00:01:12 - Early stages: migration of the cloud
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