Microsoft Corporation (MSFT.US) delivered a strong 3FQ24 results, significantly beating its lowered estimations, Citi Research issued a research report saying.
The Company's revenue and net profit grew broadly, with the Azure business achieving significant acceleration (up about 3 ppts QoQ). Growth was driven by AI services, but non-AI or core Azure services grew at a faster pace.
Citi Research expected Microsoft Corporation's conference call for 4Q24 guidance, further interpretation on Azure and AI growth trends, forecasts for future capital expenditures, and early commentary on FY2025.
Citi Research expected Microsoft Corporation's share price to perform well, with rating at Buy and a target price of US$475.
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