TMTB: MSFT/GOOGL Final Bogeys; EOD Wrap

Early and quick EOD wrap today since we’ll have lots to go over after the close.

Final Bogeys for this afternoon:

GOOGL:

Search growth: 13% y/y search rev growth
EBIT: ~$23B
Capex: Q1 street at $10.05bn, increasing to ~$10.5bn for Q2

MSFT:

Azure Growth: ~29.5% (guided to stable after 28% y/y last q). 30%+ would be received well....Bogey for next q is "stable growth" guide like last q's

Capex: $11.5B last q. Said they expect capex to increase materially q/q. Street around $13.3B in Q1. Most expect similar language for next quarter in terms of ramping capex spend.