Stocks to Watch: Microsoft, Alphabet, Stride
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)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations