MS Grows 33% Cloud in Q3...Meta's Sales Up 19%

Microsoft, Microsoft Reports Q3 Earnings Beat Market Expectations

MS said it posted $65.59 billion in revenue in the third quarter of this year, 90.561 trillion won in our money, and a net profit of $3.30 per share, or about 4,556 won.

These figures are above Wall Street's sales expectations.

Revenue rose 16% from the same period a year ago, with gross net income up 11% to $24.67 billion.

This result comes as cloud service Azure grew 33% over the same period and intelligent cloud sales, including Windows servers, were also strong.

Facebook parent Meta Platforms, which also announced its earnings, also reported third-quarter earnings that exceeded market expectations.

Meta said it posted revenue of $40.59 billion, or about 56.426 trillion won, and earnings per share of $6.03 and about 8,325 won in the third quarter.

Meta CEO Mark Zuckerberg cited investments in artificial intelligence and AI as the reason for the 19% increase in sales from a year ago.

Meanwhile, MS closed slightly higher by 0.17% on the New York Stock Exchange, while Meta lost 0.19%.