Microsoft comfortably exceeded expectations in its fiscal first-quarter results, reporting adjusted earnings of $4.89 per share versus an expected $4.73 and revenue of $92.28 billion, up 19% year over year. Azure cloud infrastructure revenue grew 48%, and Microsoft expects constant-currency growth of 49% to 50% in the fiscal second quarter, above the 45.1% consensus. Analysts said investments in data centers and the monetization of artificial intelligence support the growth outlook despite weakness in consumer businesses. The banks cited retain positive ratings, with price targets ranging from $600 to $750, implying upside of up to 41%.
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