Stocks to Watch: Microsoft, Alphabet, Stride
October 24 2023 - 7:16PM
Dow Jones News
By Ben Glickman
Microsoft saw faster sales growth in the third quarter off the
back of stronger sales in its Microsoft Azure cloud business. Its
profit rose 27%, ahead of Wall Street's forecasts. Shares rise
4.1%, to $344, after-hours.
Alphabet, the parent company of Google, posted third-quarter
profit ahead of Wall Street's estimates, but its cloud-computing
segment delivered lackluster results. The company's cloud business
saw sales grow 22% in the third quarter, slower than last year's
growth and below what analysts were expecting. Shares fall 6.1%, to
$131.51, after-hours.
Stride swung to a profit in the fiscal first quarter from a
year-ago loss as its revenue rose almost 13%, to $480.2 million.
Analysts polled by FactSet were expecting a loss in the period, but
the company got a boost from higher education-technology
enrollment. Shares rise 12%, to $49.85, after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
October 24, 2023 20:01 ET (00:01 GMT)
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