EARNINGS: Microsoft Smashes Q1 Expectations
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Microsoft’s AI-driven growth strategy continues to deliver impressive results.
The company reported a 16% increase in quarterly revenue to $65.6 billion, mainly driven by the strong performance of its AI-powered cloud services, particularly Azure, which saw a 33% jump in sales.
The productivity and business segments also contributed significantly to the overall growth.
Microsoft’s stock price increased 0.13% on Wednesday, October 30th, closing at $432.53. During the day, it fluctuated between $432.23 and $438.50.
The stock has risen in 8 of the past 10 trading days, resulting in a 3.94% increase over the last two weeks.
Trading volume increased on Wednesday, a positive technical sign, with 26 million shares traded for approximately $11.46 billion.
The stock lies in the middle of a weak rising trend in the short term. Key levels are $438.69 resistance and $409.54 support.
