MSFT

May 1, 2019 Summary Microsoft reported yet another quarter of very strong results. The upside was partially a function of market share gains in the cloud. This time around, the company saw respectable growth in Windows that lead to a blow-out quarterly result. Microsoft shares have been quite strong for some time now. But the…

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February 6, 2019 Summary Microsoft reported its results for the December quarter last week – basically the results on a headline basis were no better than in line and were received with a shrug. Microsoft shares have been in a relatively long period of consolidation and have underperformed the software index for a year. Microsoft’s…

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July 26, 2018 Summary Microsoft reported another blow-out quarter last week. The company handily exceeded prior consensus estimates for revenues and EPS, and most analysts raised forward estimates and price targets. Azure revenues continue to outperform and rose 85% in constant currency, again, outgrowing AWS on a percentage basis. Other major stars last quarter were…

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Apr. 5, 2018 Summary Microsoft today represents one of the less challenged large-cap IT names with less “political risk” than its large-cap IT brethren. Microsoft’s growth is accelerating and that pattern should continue. Operating margins have a strong tailwind associated with leverage at scale of cloud revenues. The company is benefitting proportionately as much as any…

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Apr. 5, 2018 Summary Microsoft today represents one of the less challenged large-cap IT names with less “political risk” than its large-cap IT brethren. Microsoft’s growth is accelerating and that pattern should continue. Operating margins have a strong tailwind associated with leverage at scale of cloud revenues. The company is benefitting proportionately as much as…

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Nov. 1, 2017 Summary Microsoft reported the results of its first fiscal quarter last week. The results were better than had been anticipated and the guidance was better than had been feared. The shares spiked. Microsoft can no longer be considered a value name – it can better be thought of as a name that…

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Aug. 1, 2017 Summary Both Amazon and Microsoft have announced the results of the June quarter over the past 10 days. While Microsoft earnings were unambiguously positive, there has been some controversy regarding the results of Amazon. I have tried to compare and contrast the results of AWS vs. Azure in this latest quarter and…

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Jan. 30, 2017 Summary Microsoft reported the results of its fiscal Q2-2017 Thursday evening. The company beat estimates for both earnings and revenues and gave constructive guidance although the acquisition of LinkedIn which will belong to MSFT for an entire quarter muddies the picture. The company saw noticeably better results in Windows and also enjoyed…

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Jan. 4, 2017 Summary Microsoft shares have shown strength lately and some commentators have commented that they have gone too far too fast. I think the concerns are focused on the just completed LinkedIn acquisition as well as the company’s operating performance in the recent past. I think the LinkedIn acquisition is likely to be…

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October 21, 2016 Summary Microsoft reported a clean Q1 beat with revenues about 3-4% above prior expectations and with a beat of more than 10% in anticipated EPS. The company showed particularly strong performance in Azure revenue, up 120%, Dynamics applications and cloud-based Office 365 revenues. As the commercial cloud became an increasing proportion of…

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