Microsoft (MSFT) guides Q4 revenue between USD 86.7-87.8bln (exp. 87.2bln), Q4 Capex to increase over USD 40bln
Q4:
- Operating expenses between USD 19.3-19.4bln
- Intelligence Cloud Revenue between USD 37.95-38.25bln (exp. USD 37.4bln)
- More personal computer revenue between USD 11.75-12.25bln (exp. USD 13.4bln)
- Azure and Other cloud services revenue growth between 39-40% in CCY.
2026:
- Capex at around USD 190bln
2027:
- Total revenue outlook is to grow in double digits.
Context
Microsoft's Q4 guidance showing revenue expectations slightly below estimates, coupled with significant capital expenditures, suggests mixed sentiment ahead. While their strong cloud performance, particularly in Intelligence Cloud, indicates growth potential, the lower-than-expected PC revenue raises concerns about demand in that segment. This duality could influence market expectations for tech sector performance and the broader equity indices.
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