Microsoft shares up on AI trends
The Intelligent Cloud segment at Microsoft produced $24.26 billion in revenue, up 19% and above the $23.49 billion consensus. The unit is the main driver of the software giant’s artificial intelligence business.
In context group revenue totalled $56.52 billion, above forecasts of $54.50 billion. Revenue just from Azure jumped 29% during the quarter, faster than the 26% consensus among analysts.
(AI Video Transcript)
Lloyds Bank and Microsoft
Lloyds Bank and Microsoft have both reported good earnings, which has boosted their stock prices. However, Alphabet has disappointed investors with their cloud revenue figures, causing their stock price to drop. Despite some concerns, both Wall Street and European markets have seen gains, and Asian markets have also performed well overall.
Market volatility
There has been some volatility in the markets lately, but it hasn't had a big impact on stocks. The presenter believes that the market may start to go down, but it's important to watch out for a certain level of support in order to see where it may go from there. Some analysts have been pessimistic about the market, but many companies have been beating earnings estimates, such as Lloyds Bank, Porsche, and Deutsche Bank. However, there are still concerns about the economy and inflation.
The German IFO Business Climate Index and the Bank of Canada
The presenter discusses some upcoming economic data, including the German IFO Business Climate Index and the Bank of Canada interest rate announcement. They also talk about the US dollar compared to the Canadian dollar and the euro compared to the US dollar. In terms of stocks, Lloyds Bank is facing concerns about their future, Barclays is increasing their debt provision, and Mike Ashley has increased his stake in Boohoo, which has sparked speculation about his long-term plans.
Deutsche Bank
Deutsche Bank has reported higher income and plans to give more money back to shareholders. Porsche has also announced positive results and a positive outlook. Microsoft has had strong earnings, with their intelligent cloud segment being a big driver of revenue growth. Alphabet's revenue growth has improved, but their cloud revenue didn't meet expectations. Snap saw a boost in their stock price after reporting good earnings, but worries about the conflict in Gaza caused those gains to reverse. Oil prices have dropped for the fourth day in a row, while gold prices have stayed relatively stable.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Take a position on indices
Deal on the world’s major stock indices today.
- Trade the lowest Wall Street spreads on the market
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
