文章核心观点 - 微软和网络安全公司CrowdStrike反驳了达美航空公司的指控,称达美航空公司上月的技术故障并非由他们造成 [2][3][4][5] - 微软称达美航空公司的关键IT系统可能由其他科技公司提供服务,而非微软Windows系统 [3] - 微软和CrowdStrike表示,达美航空公司拒绝了他们提供帮助的建议,而达美航空公司则称自己一直在大量投资IT基础设施 [7][8] 公司相关 - 微软和CrowdStrike否认了达美航空公司的指控,认为达美航空公司的说法是"不完整、虚假、误导性的,并损害了微软的声誉" [4] - 微软称自己试图了解为什么其他航空公司能比达美航空公司更快恢复业务运营 [5] - 微软CEO纳德拉在故障期间曾给达美航空CEO发过邮件,但未得到回复 [8] 行业相关 - 达美航空CEO表示,由于CrowdStrike对运行在微软Windows上的机器进行的一次错误升级,导致了全球性的技术故障,给公司造成了5亿美元的损失 [6] - 达美航空表示自己一直在大量投资IT基础设施,包括自2016年以来数十亿美元的IT资本支出和每年数十亿美元的IT成本 [7]

报告公司投资评级 微软(MSFT)被评为"推荐"评级 [145] 报告的核心观点 业绩总览 1. 微软2024Q2实现营收647亿美元(同比+15%)，营业利润279亿美元(同比+15%)，净利润220亿美元(同比+10%)，EPS2.95美元(同比+10%)。[4] 2. 2024财年全年实现营业收入2451亿美元(同比+16%)，营业利润1094亿美元(同比+24%)，净利润881亿美元(同比+22%)。[18] 生产力和业务流程业务 1. Office Commercial收入同比增长12%,主要受Office365 Commercial增长驱动。[20] 2. Office Consumer收入同比增长3%,Microsoft365订阅量增长至8250万。[21] 3. LinkedIn收入增长10%。[21] 4. Dynamics收入同比增长16%,Dynamics 365收入同比增长19%。[23] 智能云业务 1. 智能云营业收入285亿美元(同比+19%)。[29] 2. 服务器产品与云服务收入增长21%,Azure和其他云服务收入增长29%。[30] 3. 企业和合作伙伴服务收入较上年同期下降7%。[31] 个人计算业务 1. Windows收入增长7%,其中Windows OEM收入增长4%,Windows商业产品和云服务收入增长11%。[42] 2. 设备收入下降11%。[42] 3. Xbox内容和服务收入增长61%,主要得益于收购动视带来的58个百分点的净影响。[43] 4. 搜索和新闻广告收入(不计流量获取成本)增长19%。[44] 公司业绩指引 1. 2024年Q3生产力和业务流程营收预计203亿至206亿美元(同比+10%~11%)。[51][52][53][54] 2. 2024年Q3智能云营收预计286亿至289亿美元(同比+18%~20%)。[56][57][58] 3. 2024年Q3个人计算营收预计149亿至153亿美元(同比+9%~12%)。[59][60][61][62] 根据相关目录分别进行总结 生产力和业务流程 - Office Commercial、Office Consumer、LinkedIn和Dynamics等业务表现良好,收入均实现两位数增长。[20][21][23] 智能云 - 服务器产品与云服务收入增长21%,Azure和其他云服务收入增长29%。[30] - 企业和合作伙伴服务收入较上年同期下降7%。[31] 个人计算 - Windows收入增长,其中Windows OEM和Windows商业产品和云服务表现较好。[42] - 设备收入下降11%。[42] - Xbox内容和服务收入大增,主要得益于收购动视。[43] - 搜索和新闻广告收入增长19%。[44] 公司整体业绩指引 - 2024年Q3各业务线收入均有两位数增长预期。[51][52][53][54][56][57][58][59][60][61][62]

Pla2na/iStock via Getty Images Investment Thesis Microsoft (NASDAQ:MSFT) released its fourth-quarter results last week. In this article, I am initiating coverage of the company by analyzing its latest earnings report and investigating the setback seen in Azure's growth along with the growth prospects for its search business. Q4 Highlights Microsoft delivered a solid fourth-quarter performance, in my opinion. Q4 Revenues came in at $64.7 billion, up 16% y/y in constant currency, beating analyst estimates ...

文章核心观点 - 公司三大业务部门均保持双位数收入增长,其中云计算业务增长最为强劲 [3][9][13] - 公司保持良好的营运杠杆,即使大幅增加研发和资本支出,仍能产生大量自由现金流 [6][20] - 公司估值水平相对历史平均水平较低,根据DCF模型计算,公司股票存在21%的上涨空间 [21][32][33] 公司业务表现 - 生产力和商业流程部门收入同比增长12% [13] - 智能云业务收入同比增长20%,Azure收入增长29% [9][13] - 个人计算部门收入同比增长13% [13] - 三大业务部门均贡献了良好的营运杠杆 [17][19] 财务状况 - 公司在本季度产生了124亿美元的自由现金流,尽管资本支出同比增加50亿美元 [6] - 公司现金储备达750亿美元,为未来大规模并购提供了充足的财务灵活性 [6] - 公司资产负债表保持健康,净债务为负值,财务杠杆较低 [7][8] 未来发展 - 公司正大幅增加在云计算和人工智能基础设施方面的投资,以抓住这一万亿美元的市场机遇 [12] - 公司与Lumen Technologies合作,扩大网络容量以支持不断增长的数据中心需求 [12] - 公司未来10年的收入复合增长率有望达到13.3%,高于行业预期 [29][32]

Markets stabilized today with the S&P 500 and Nasdaq rising 1% after a correction like selloff over the last week. As volatility fears start to settle Amazon (AMZN)  and Microsoft (MSFT)  are two big tech stocks investors may be eyeing for a rebound.Despite giving back much of their lofty gains this year, Amazon and Microsoft’s stock are still up just over +7% in 2024 with both companies recently exceeding their quarterly earnings expectations.Image Source: Zacks Investment ResearchCloud ComparisonAlthough ...

Key TakeawaysMicrosoft on Tuesday criticized Delta's response to last month's outage that led Delta to cancel thousands of flights, joining CrowdStrike in accusing the airline of refusing or ignoring offers for assistance.Delta CEO Ed Bastian said last week that the outage and canceled flights cost the airline at least $500 million, and said the company likely had "no choice" but to seek damages.Microsoft said Tuesday it was receiving undue blame from Delta and alleged it was likely the program that caused ...

Microsoft blamed Delta Air Lines on Tuesday for its dayslong struggle to recover from a global cyber outage that led it to cancel more than 6,000 flights.The flight disruptions stranded hundreds of thousands of travelers and are estimated to cost the Atlanta-based airline $500 million.Last week, Delta’s CEO Ed Bastian told CNBC that while the airline heavily relies on Microsoft and CrowdStrike, both tech companies had failed to deliver an “exceptional service.” The  global cyber outage caused Delta to cance ...

Delta Airlines planes are seen parked at Seattle-Tacoma International Airport on June 19, 2024 in Seattle, Washington.Microsoft fired back at Delta Air Lines on Tuesday after the carrier said it would seek damages from the software giant and CrowdStrike for thousands of flight cancellations in the wake of a massive IT outage.Delta struggled more than rival airlines to recover from the outage, cancelling more than 5,000 flights in the days following the July 19 outage, which was sparked by a botched software ...

Close-up of sign with logo on facade of the regional headquarters of ecommerce company Amazon in the ... [+] Silicon Valley town of Sunnyvale, California, October 28, 2018. (Photo by Smith Collection/Gado/Getty Images)Getty ImagesAmazon’s stock (NASDAQ: AMZN) dropped 8.8% on 2nd August, as compared to a 1.8% decrease in the S&P 500 index. In sharp contrast, Amazon’s peer Microsoft (NASDAQ: MSFT) was down 2% on that same day. The AMZN stock price fell after the company announced second-quarter results, missi ...

Microsoft (NASDAQ:MSFT) delivered a Q2 print that was strong overall and exceeded Wall Street targets on the top and bottom lines. Most analysts raised their targets on Microsoft stock after the Q2 earnings were made public.However, MSFT stock has been pulled lower since the beginning of July amid the broad pullback in technology securities. In the last month, Microsoft stock has declined 13%. This presents a golden opportunity to buy-the-dip in a best-in-class stock that has a track record of rewarding sha ...