‘Another World Series cloud performance’: 3 analysts react to Microsoft’s 1st-quarter earnings report that sent stock to record highs

‘Another World Series cloud performance’: 3 analysts react to Microsoft’s 1st-quarter earnings report that sent stock to record highs

Stock hit record highs on Wednesday, jumping as much as 4% after the company reported strong The cloud provider posted record profits that exceeded analysts' estimates as growth in its Azure cloud and productivity units helped drive a 22% surge in revenues to $45.3 billion. The company also gave second-quarter revenue guidance that was ahead of consensus forecasts. "We are off to a fast start for fiscal year 2021. The case for digital transformation has never been more urgent or more clear," said Microsoft CEO Satya Nadella. Wall Street analysts seem to agree with him, as several raised their price targets for Microsoft stock and said the Redmond-based tech giant has more growth ahead. Here's how three analysts reacted to Microsoft's blowout quarter. "Nadella & Co. handily beat Azure estimates by 300 bps with 50% cloud growth and gave December guidance well above expectations speaking to a cloud party that is still in the middle innings of playing out for Microsoft... We believe the strong numbers from Nadella & Co. is a broader indication of strength we expect to see across the enterprise cloud software landscape throughout this earnings season... In a nutshell, these results and stronger guidance will be