We’ll start with earnings then go onto our market recap:
Earnings – Great: MSFT Mixed: SNAP GOOGL TXN
MSFT (+5%): Very solid print with key number Azure coming in at 28% cc (buyside 26-27%), showing acceleration like we called out in our preview. We await the guide on the call. I took half off the table to book profits on our long earnings trade. Buyside expecting 1-2 pt decel, I think 26% guide or above is fine. Anything more than 2pt decel won’t be looked at favorably.
Revenue $56.5B, EST $54.54B
1q EPS $2.99, est. $2.65
1q cloud rev. $31.8b, est. $31.19b
1q productivity rev $18.59b, est. $18.29b
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