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CLAIM #44623 · Microsoft Corporation (MSFT) · 2024Q3 earnings call · Apr 25, 2024 · due Jun 30, 2024

Growth will be driven by our Azure Consumption business and continued contribution from AI with some impact from the AI capacity availability noted earlier.

Amy Hood · CFO

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versus commitment · official band 5 percent
Committed
Growth will be driven by our Azure Consumption business and continued contribution from AI with some impact from the AI capacity availability noted earlier.
Reported
Azure growth included 8 points from AI services where demand remained higher than our available capacity.

How to check this claim

Look at: Azure and other cloud services revenue growth, constant currency, Q4 FY2024

It came true if: Azure constant-currency revenue growth between 30% and 31%

Where: Company earnings release / 10-K segment disclosure and CFO commentary on Q4 FY2024 earnings call

In context

. For LinkedIn, we expect revenue growth in the mid to high single digits driven by continued growth across all businesses. And in Dynamics, we expect revenue growth in the low to mid-teens, driven by Dynamics 365. For both LinkedIn and Dynamics, the continued bookings growth moderation noted earlier is a headwind to Q4 revenue growth. For Intelligent Cloud, we expect revenue to grow between 19% and 20% in constant currency or US$28.4 billion to US$28.7 billion. Revenue will continue to be driven by Azure, which, as a reminder, can have quarterly variability primarily from our per-user business and in-period revenue recognition depending on the mix of contracts. In Azure, we expect Q4 revenue growth to be 30% to 31% in constant currency or similar to our stronger-than-expected Q3 results. Growth will be driven by our Azure Consumption business and continued contribution from AI with some impact from the AI capacity availability noted earlier. Our per-user business should see benefit from Microsoft 365 suite momentum. Though we expect continued moderation in seat growth rates given the size of the installed base. In our on-premises server business, we expect revenue growth in the low to mid-single digits with continued hybrid demand, including licenses running in multi-cloud environments. And in Enterprise and Partner Services revenue should decline in the mid- to high single digits on a high prior year comparable for enterprise support services. In More Personal Computing, we expect revenue to grow between 10% and 13% in constant currency or US$15.2 billion to US$15.6 billion. Windows OEM revenue growth should be in the low to mid-single digits as PC market unit volumes continue at pre-pandemic levels. In Windows Commercial Pr

Verify independently

SEC filings for MSFT · Claim quote is verbatim from the 2024Q3 earnings call.