Profits. The most valuable Public Company in the u. S. Easily beat wall street estimates. Reportingarnings of more than 10 billion in sales of more than 30 billion both double digit increase from us ay year ago. It may have made its name in the wonts operating system but the future in the cloud. The Cloud Business called azure owth in the recent quarter was below 6060 a big number with you one that gave investors pause. The stock volume nil initial after hours trading, josh lipton asore on microsofts quarter. Expectations ran highan into microsofts latest earnings with the stock up nearly 35 so far this year as invtors bet that its a smart way to capitalize on the shift to clou computing. One b b n nber that investors watch, commercial cloud revenue you go incding azure microsoft answer to riviv aws and cloud properties. Commercial cloud revenue clocked in at 11. 6 billion with gross margin spanning to 66 . Kirk ma tern says the growth in the cloud is translating into real earnings pow
Chicago. Phil. Melissa, the reason the stock is shooting higher is because the adjusted eps is 1. 86 profit for the third quarter. And that is far above what most people were expecting. The expect aches, the consensus out on the street was for a loss of 42 cents a share. Revenue came in a little under expectations at 6. 30 billion the expect aches for 6. 33 billion in revenue and looking at the gross margins, 18. 7 is what most of the analyst were zeroing in on in terms of what the expectation was for the third quarter. Remember, many people believed as they were increasing model 3 deliveries, especially at the higher price point, that we might see higher gross margin process. Well the gap auto gross margin coming in at 22. 3 a couple much production notes, first of all, trial production has begun at shanghai plant preponderate remember ramping up production and deliveries in china into the end of the year the model y according to tesla ahead of schedule in the production beginning in
Unchanged suggested that inflation might move high they are year. The gains, disappeared th for an hour or so. But then they were found. And here are the day final numbers. The Dow Jones Industrial average rose 72 points to 26,149. The s p 500 gained nine and the nasdaq 500 was up one. Th choppy day closed out a very strong month. The dow and s p extended their win streaksn to raight months something that hasnt happened since 1959. Those indexes also had their best january outing in years as u can see there. Not to be outdone, oil prices rosel seven p percent this month as production topped 10 millio Barrels Per Day for the First Time Since 1970. Now to the fed. As weed mentihe Central Bank Left rates unchanged at chair Janet Yellens last meeting but upgraded its view of the economy and expressed greater confidence that inflation will move towards its 2 target. Steve liesman is in washington i t. Bottom line is that the fed pointed to market strength. Its on track for at least three ra