Microsoft (MSFT) is set to report fiscal first-quarter earnings results after markets close Wednesday, with investors likely to be watching growth in the company’s Azure cloud computing platform.
Analysts expect revenue to jump 14% year-over-year to $64.65 billion. Net income is projected to land at $23.2 billion or $3.11 per share, up from $22.29 billion or $2.99 per share a year earlier.
In the prior quarter, Microsoft reported cloud revenue of $36.8 billion, up 21% year-over-year, but short of the $37.2 billion analysts expected. Microsoft’s Intelligent Cloud segment, which houses Azure, accounted for $28.5 billion in revenue, driven by a 29% jump in revenue from Azure and other services.
Deutsche Bank analysts said they expect Azure to post a percentage in the low-to-mid 30s for the fiscal first quarter, adding Microsoft “needs to deliver Azure outperformance and guidance for little if any deceleration” in order to satisfy investors’ lofty expectations.
Microsoft …