Cloud Stocks: Microsoft's lead in Azure powered by OpenAI
Earlier this week, Microsoft (Nasdaq: MSFT) announced its third quarter results that surpassed market expectations. The company continues to bank on its AI investments. Microsoft's Financials Microsoft's revenues grew 7% to $52.9 billion, ahead of the market's forecast of $51.1 billion. Adjusted EPS of $2.45 was also better than the estimated $2.23 for the quarter. For the quarter, revenues from the Intelligent Cloud segment that includes Azure grew 16% to $22.1 billion, ahead of the market's estimate of $21.9 billion. Azure sales grew 27% over the year, falling short of th...