Microsoft reports earnings beat, says A.I. will drive revenue growth

$Microsoft(MSFT.US)$ Q3/FY23 Report Highlights:
-Revenue $52.9 Billion +7%
-Operating Income $22.4 Billion +10%
-Net Income $18.3 Billion +9%
-Cloud Revenue $22.1 Billion +16%
-Xbox Content & Services Revenue +3%
-Xbox Hardware -30%
-Gaming Revenue -4%

Microsoft products and services growth

Despite the technology industry's enthusiasm for generative AI and the belief that this technology can trigger new growth in cloud computing customer spending, analysts believe that generative AI is not likely to drive meaningful sales.

Stifel Financial Corp's analyst Brad Reback said, "Microsoft's influence in AI is unparalleled, but this clearly will not have even a tiny impact on revenue." He added that when AI really starts to boost sales, Microsoft may lead competitors like $Alphabet-A(GOOGL.US)$ $Alphabet-C(GOOG.US)$ and $Amazon(AMZN.US)$.

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