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Author: Alan LittleDate: 2021-01-28

Microsoft (MSFT) +1%, Boeing (BA) -2% as investors react to reports

Microsoft’s (MSFT) spike in cloud revenues paved the way for fiscal Q2 beats on Wednesday, but Boeing (BA) struggled again after a wider-than-forecast Q4 loss raised further questions about aviation during the pandemic.

After Tuesday’s close, Microsoft showed its strength with a financial report that included $2.03 earnings per share and $43.1bn group revenues, up 34% and 17% respectively from a year ago.

Wall Street analysts had expected $1.64 earnings and $40.2bn revenue for the three-month period to 31st December.

Microsoft also said that its core cloud offering, Azure, had thrived during the last period and helped Intelligent Cloud revenues to soar 23% to $14.6bn.

CEO Satya Nadella was in a bullish mood in a conference call after claiming that the company is now powering digital transformation with the “world’s largest and most comprehensive cloud platform”.

Personal computing revenues, a traditional lever for Microsoft, also jumped 14% to $15.1bn as more people purchased devices for the recent shift to remote working.

LinkedIn and Xbox content revenues – the latter driven by the launch of a new gaming console – also spiked 23% and 40%, respectively.

Microsoft shares rose 5.3% in pre-market in midweek, but general trading was more subdued as MSFT made gains of 1.11% by late morning for a new $234.92 price.

Boeing’s woes continued on Wednesday after the plane maker posted a $15.25 per share loss that was significantly wider than the -$1.80 consensus.

Group revenues also slumped 14.5% to $15.3bn, though that did come in ahead of the $15.07bn expectations.

CEO David Calhoun said that the pandemic had “significantly constrained our industry” and warned of further challenges for aerospace in 2021.

On the London Stock Exchange, Boeing shares closed 3.41% lower at $196.27.





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