Shares of MSFT (NASDAQ:MSFT) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $2.69, which beat analysts’ consensus estimate of $2.55 per share.
Sales increased by 8% year-over-year, with revenue hitting $56.19 billion. This beat analysts’ expectations of $55.49 billion. Microsoft’s Intelligent Cloud division, which includes Azure, made up $23.99B of the revenue. In addition, Azure sales grew by 26% year-over-year.
Overall, Wall Street has a consensus price target of $378.47 on MSFT stock, implying 7.86% upside potential, as indicated by the graphic above.
