Tech giant reports earnings of $3.72 per share day after deal with OpenAI pushed value of company to more than $4tn
Microsoft blew off concerns of overspending on AI on Wednesday, reporting elevated earnings even as it faced an outage of its cloud computing service, Azure, and its office software suite, 365. The strong earnings report comes a day after a deal with OpenAI pushed the value of tech giant to more than $4tn.
After its Xbox and investor relations pages went down, the company issued a statement: “We are working to address an issue affecting Azure Front Door that is impacting the availability of some services.”
The outage did not dampen the software giant’s financial outlook, though. The company reported first-quarter earnings of $3.72 per share against analyst expectations of $3.68, and revenue of $77.7bn against expectations of $75.5bn, according to Bloomberg consensus estimates.
That’s up from the $3.30 per share and $65.6bn in revenue the company saw in the same quarter last year.
