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Microsoft (MSFT) surged 15.5%, the largest single-day market-value increase in stock market history, after posting better-than-expected Q4 earnings.
Microsoft has been a laggard for much of the year due to concerns about its AI spending and questions about when it would see a return on its billions in investments.
More from Yahoo Scout How did Azure performance exceed investor expectations? What were Microsoft's key financial metrics versus analyst forecasts? What drove Microsoft's record-breaking 15.5% single-day surge? How much did Microsoft spend on AI infrastructure investments?
But Investors appeared to get the answers they were looking for in the company's Q4 report and forward guidance.
Microsoft said Azure growth accelerated to 43% in the period and expects it to hit 45% in the current quarter. Microsoft 365 Copilot seats also rose above 30 million, and Azure revenue passed the $100 billion mark for the first time.
Overall, Microsoft posted earnings per share of $4.74 on revenue of $90 billion. Analysts were looking for EPS of $4.25 and revenue of $87.7 billion. The company saw EPS of $3.65 and revenue of $76.4 billion in the same quarter last year.
Microsoft said it spent $41 billion on capital expenditures, including leases, in the quarter, below an anticipated $42 billion.
The company's Intelligent Cloud segment saw revenue of $39.3 billion versus expectations of $38.1 billion.
Microsoft's Business Productivity and Business Processes segment topped out at $37.8 billion compared to a projected $37.3 billion.
The company's More Personal Computing business, which includes sales of Windows, saw revenue of $12.9 billion versus an expected $12.1 billion.
Remaining performance obligations, or contracts Microsoft must still deliver on, hit $678 billion versus an anticipated $647.6 billion.
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Email Daniel Howley at dhowley@yahoofinance.com. Follow him on X at @DanielHowley.
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