Citigroup released a report stating that Microsoft's third-fiscal quarter performance was outstanding, greatly exceeding expectations after the downgrade. The company's revenue and net profit grew across the board, and the Azure business accelerated significantly (up about 3 percentage points from quarter to quarter). As for AI services, the growth is being driven, but non-AI or core Azure services are growing faster. The search business resumed double-digit growth during the quarter. The company's O365 Copilot contribution is still in its early stages, with no clear quantitative data, and the total revenue of the O365 commercial edition is in line with expectations. The bank expects Microsoft's stock price to perform well, giving it a “buy” rating, with a target price of 475 US dollars.
大行评级｜花旗：微软第三财季业绩表现出色 予“买入”评级
Big Bank Ratings｜Citibank: Microsoft's performance in the third fiscal quarter gave it a “buy” rating
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