Microsoft Stock Soars Amidst Financial Report Announcement
400 PM EDT - April 26
Microsoft Corp. MSFT
Microsoft Corp. (MSFT) stock has made a significant jump in the market, reaching a record high in pre-market trading. The surge came after the company announced its financial report for the second quarter of fiscal 2023.
The report revealed impressive results, with revenue and earnings per share both surpassing Wall Street expectations. The company's cloud computing business, Azure, remained a major growth driver, accounting for a substantial portion of the revenue increase.
759 PM EDT - April 26
International Business Machines Corp.
Meanwhile, International Business Machines Corp. (IBM) has also reported strong financial results for the first quarter of 2023. The company's revenue and earnings per share exceeded analysts' estimates, driven by growth in its software and cloud services segments.
IBM's hybrid cloud offerings and artificial intelligence solutions have gained traction in the market, contributing to its overall performance. The company expressed optimism about its future prospects, citing its focus on innovation and digital transformation.
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