+关注
_独钓寒江
暂无个人介绍
IP属地：广东
29
关注
1
粉丝
0
主题
0
勋章
主贴
热门
_独钓寒江
2020-01-17
$跟谁学(GSX)$
这是培训界的拼多多吗
_独钓寒江
2021-04-28
标题党
业绩超预期 微软(MSFT.US)股价为什么不涨反跌？
_独钓寒江
2021-03-24
太打脸了
汇丰：将腾讯音乐目标价从30美元上调至35美元。
去老虎APP查看更多动态
{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3516964903272056","uuid":"3516964903272056","gmtCreate":1553907610970,"gmtModify":1704447490596,"name":"_独钓寒江","pinyin":"ddhjdudiaohanjiang","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":29,"tweetSize":3,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-4","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"明星虎友","description":"加入老虎社区2000天","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.09.20","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"228c86a078844d74991fff2b7ab2428d-1","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资经理虎","description":"证券账户累计交易金额达到10万美元","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"60.55%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"35ec162348d5460f88c959321e554969-1","templateUuid":"35ec162348d5460f88c959321e554969","name":"精英交易员","description":"证券或期货账户累计交易次数达到30次","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.32%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":4,"crmLevelSwitch":0,"location":"广东","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":1,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":100203953,"gmtCreate":1619614390772,"gmtModify":1619614390772,"author":{"id":"3516964903272056","authorId":"3516964903272056","name":"_独钓寒江","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3516964903272056","authorIdStr":"3516964903272056"},"themes":[],"htmlText":"标题党","listText":"标题党","text":"标题党","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/100203953","repostId":"2130858377","repostType":2,"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":351214634,"gmtCreate":1616597040628,"gmtModify":1616597040628,"author":{"id":"3516964903272056","authorId":"3516964903272056","name":"_独钓寒江","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3516964903272056","authorIdStr":"3516964903272056"},"themes":[],"htmlText":"太打脸了","listText":"太打脸了","text":"太打脸了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351214634","repostId":"2121455001","repostType":2,"isVote":1,"tweetType":1,"viewCount":393,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":916123025,"gmtCreate":1579273535367,"gmtModify":1704339525252,"author":{"id":"3516964903272056","authorId":"3516964903272056","name":"_独钓寒江","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3516964903272056","authorIdStr":"3516964903272056"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 这是培训界的拼多多吗","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 这是培训界的拼多多吗","text":"$跟谁学(GSX)$ 这是培训界的拼多多吗","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/916123025","isVote":1,"tweetType":1,"viewCount":1881,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引"}],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":916123025,"gmtCreate":1579273535367,"gmtModify":1704339525252,"author":{"id":"3516964903272056","authorId":"3516964903272056","name":"_独钓寒江","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3516964903272056","authorIdStr":"3516964903272056"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 这是培训界的拼多多吗","listText":"<a href=\"https://laohu8.com/S/GSX\">$跟谁学(GSX)$</a> 这是培训界的拼多多吗","text":"$跟谁学(GSX)$ 这是培训界的拼多多吗","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/916123025","isVote":1,"tweetType":1,"viewCount":1881,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","text":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引","html":"终于等到了您的初发帖[比心][比心]希望您能在老虎社区玩得愉快、赚得开心！如果您想创作优质文章，请查看老虎社区创作指引"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":100203953,"gmtCreate":1619614390772,"gmtModify":1619614390772,"author":{"id":"3516964903272056","authorId":"3516964903272056","name":"_独钓寒江","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3516964903272056","authorIdStr":"3516964903272056"},"themes":[],"htmlText":"标题党","listText":"标题党","text":"标题党","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/100203953","repostId":"2130858377","repostType":2,"repost":{"id":"2130858377","kind":"highlight","pubTimestamp":1619603117,"share":"https://www.laohu8.com/m/news/2130858377?lang=&edition=full","pubTime":"2021-04-28 17:45","market":"hk","language":"zh","title":"业绩超预期 微软(MSFT.US)股价为什么不涨反跌？","url":"https://stock-news.laohu8.com/highlight/detail?id=2130858377","media":"智通财经网","summary":"微软股价走势呈现先涨后跌，财报后股价在盘后交易中跌超2.5%。","content":"<html><body><div> <p><strong>本文来自微信公众号“异观财经”</strong></p><p>美东时间4月27日盘后，科技巨头<a href=\"https://laohu8.com/S/MSFT\">微软</a>(MSFT.US)发布了2021财年Q3(2021年第一季度)财报，营收和净利润均超出市场预期，然而微软股价走势却呈现先涨后跌，财报后股价在盘后交易中跌超2.5%。</p><p><span>季度营收同比增速创新高</span></p><p>财报显示，微软2021财年Q3营收417.06亿美元，高于市场预期的410.5亿美元，较上年同期的350.21亿美元，增长19%，创2019财年以来最大季度增速。</p><center><img height=\"353\" src=\"http://img.zhitongcaijing.com/images/contentformat/55e5fbdda64dee62f219894acb451039.jpg\" width=\"677\"/></center><p>(数据来源：微软财报)</p><p>从上图可以看出，自2019财年第二季度开始，微软季度营收同比增速出现放缓趋势。2020财年Q3，微软营收同比增速15%，高于前三个季度14%的同比增速，到2020财年Q4，营收同比增速减缓到13%，2021财年Q1营收同比增速下降至12%，自2021财年Q12营收增速有所回升。</p><p>这里需要注意的是，报告企业微软营收较上一季度的194.6亿美元，减少了3%。</p><p>微软的营收主要来源于产品收入、服务和其他收入。</p><p>财报显示，2021财年Q3，微软产品收入168.73亿美元，较上年同期的158.71亿美元，增长6%，较上一季度的194.6亿美元，减少13%。报告期内，产品收入贡献的营收占比从上一季度的45%，下降至本季度的40%。</p><p>服务和其他收入实现248.33亿美元的营收，较上年同期的191.5亿美元，增长30%，较上一季度的236.16亿美元，增长5%，营收占比从一季度的55%上升至本季度的60%。</p><p>自2020财年Q4开始，产品贡献的营收逐步降低，服务和其他收入同比增速远超产品收入增速，并成为微软最重要的营收来源。</p><center><img height=\"333\" src=\"http://img.zhitongcaijing.com/images/contentformat/123bc52513cd931a172e5faff7dc4b80.jpg\" width=\"677\"/></center><p>(数据来源：微软财报)</p><p>财报显示，2021财年Q3微软毛利为286.61亿美元，较上年同期的240.46亿美元，增长19%，较上一季度的288.82亿美元，减少1%。2021财年Q3毛利率为69%，略高于上一季度的67%，低于一季度的70%。</p><center><img height=\"333\" src=\"http://img.zhitongcaijing.com/images/contentformat/8ab9c52bab885ee95fd08a7d14d646e0.jpg\" width=\"677\"/></center><p>(数据来源：微软财报)</p><p>一般情况来说，毛利率越高，说明公司的盈利能力越强。从盈利角度来说，毛利率越高，企业的利润就越大，同时也说明企业的产品具有较好的竞争力，综合来看，微软的毛利率持续稳定在70%左右，保持了较强的盈利能力。</p><p>运营利润方面，报告期内微软的运营利润为170.48亿美元，较上年同期的129.75亿美元，增长31%，较上一季度的178.97亿美元，减少5%。</p><p>净利润方面，2021财年Q3净利润为154.57亿美元，较上年同期的107.52亿美元，增长44%，与上一季度的154.63亿美元，基本持平。不按照美国通用会计准则，调整后净利润为148.37亿美元，与去年同期相比增长38%，不计入汇率变动的影响为同比增长32%。</p><p>财报显示，当季摊薄后每股收益2.03美元，较上年同期的1.40美元，增长45%，高于市场预期的1.78美元。</p><p><span><a href=\"https://laohu8.com/S/5RE.SI\">智能</a>云业务连续5个季度成第一大收入来源</span></p><p>靠Windows起家的微软，曾错失了移动互联网时代，公司市值从1999年底6000亿美元的历史峰值，到2013年跌去一大半。纳德拉上任后，在领导微软的战略转型中，把云计算服务作为战略布局，2014年至今，微软在云计算、移动应用、智能硬件等领域全面发力，布局虚拟现实、人工智能、量子计算等前沿科技，公司营收也保持了稳定增长。</p><p>微软的主要业务部门由生产力和业务流程业务部、智能云业务部和个人计算部门构成。2021财年Q3，微软各业务部门的成绩均取得了两位数的增长。</p><p>财报显示，2021财年Q3，生产力与业务流程部门收入135.52亿美元，较上年同期的117.43亿美元，增长15%，较上一季度的133.53亿美元，增长1%，<strong>需要注意的是，该项业务的收入低于市场预期的145.4亿美元。</strong></p><p>其中，Office商业产品和消费者产品的收入分别增长14%和5%;领英收入同比增长25%，动态产品及云服务收入增长26%。</p><p>报告期内，生产力与业务流程部门为微软贡献了32%的营收。</p><p>财报数据显示，2021财年Q3，微软智能云业务营收151.18亿美元，较上年同期的122.81亿美元，增长23%，较上一季度的146.01亿美元，增长4%，贡献了36%的营收，<strong>这是智能云业务连续5个季度成为微软第一大收入来源。云业务成为微软营收增长的核心驱动力。</strong></p><p>事实上，结合微软FY15-FY20的年报数据来看，智能云业务是增长最快的业务。</p><center><img height=\"312\" src=\"http://img.zhitongcaijing.com/images/contentformat/cfc6055c2012f505be1143761fa97709.jpg\" width=\"549\"/></center><p>(数据来源：微软财报)</p><p>微软智能云业务主要包括Azure、企业服务、GitHub和服务器产品等。</p><p>4月21日，国际研究机构Gartner发布最新《Market Share: IT Services, Worldwide 2020》研究报告，云计算IaaS市场保持高速增长，全球市场规模达到643.9亿美元，同比增长40.7%。市场进一步向头部厂商集中，全球云计算3A格局稳固，<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>、微软和阿里云排名全球前三。</p><p>近五年来，微软市场份额持续上升，从2016年的8.7%上升至2020年的19.7%。</p><center><img height=\"285\" src=\"http://img.zhitongcaijing.com/images/contentformat/b7385d8f4ebc50cd4985114213959bbf.jpg\" width=\"480\"/></center><p>4月12日，微软与智能语音识别厂商Nuance宣布已达成最终协议，微软将以197亿美元(约合人民币1290亿元)现金收购Nuance公司，这是微软有史以来的第二大收购案。该收购将加快微软云在医疗健康领域的发展。</p><p>微软执行副总裁兼首席财务官Amy Hood说：“微软云，以其端到端的解决方案继续为我们的客户提供引人注目的价值，创造177亿美元的商业云收入，同比增长33%。”</p><p>不过值得注意的是，微软没有披露来自Azure云计算与服务平台的具体营收金额，但财报当中表示，来自Azure的营收增长了50%，间接带动服务器和云服务的营收出现增长。而在第二财季当中，来自Azure的营收增长了50%，第一财季当中则是增长了48%。</p><p><strong>Wedbush的分析师Dan Ives在财报发布后表示：“尽管Azure的数据超越市场预期，并且这也保持了股价走强的可能，但市场之前期待的是更强的增长。”</strong></p><p>微软预计第四财季，智能云计算部门销售收入将达到162-164.5亿美元。</p><p>财报显示，个人计算业务部门收入第三季度收入130.36亿美元，较上年同期的109.97亿美元，增长19%，较上一季度的151.22亿美元，减少了14%。</p><p>其中，Xbox内容和服务收入增长34%，Windows预装机收入增长10%，搜索广告收入增长17%，而Surface收入增长12%。</p><p>微软是全球公共卫生事件受益者之一。疫情的反复，人们居家办公推动了云计算和软件订阅业务需求的激增。疫情期间，越来越多企业客户购买了微软的Office办公软件，推动了微软业务营收增长，接下来微软或将持续收益。</p><p>对于接下来的发展计划，微软CEO萨提亚·纳德拉(Satya Nadella)表示：“疫情爆发一年多来，数字采用的曲线并未放缓，而是正在加速，而这仅仅是个开始。我们正在为未来十年打造云服务，扩大我们的潜在市场，并在技术堆栈的每一层都进行创新，以帮助客户变得有弹性和进行转型。”</p><p>此外，2021财年第三季度，微软以股票回购和分红的形式向股东返还共计100亿美元。</p><p>（智通财经编辑：韩永昌）</p> </div></body></html>","source":"highlight_zhitongcaijin","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>业绩超预期 微软(MSFT.US)股价为什么不涨反跌？</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n业绩超预期 微软(MSFT.US)股价为什么不涨反跌？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-28 17:45 北京时间 <a href=http://www.zhitongcaijing.com/content/detail/461741.html><strong>智通财经网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>本文来自微信公众号“异观财经”美东时间4月27日盘后，科技巨头微软(MSFT.US)发布了2021财年Q3(2021年第一季度)财报，营收和净利润均超出市场预期，然而微软股价走势却呈现先涨后跌，财报后股价在盘后交易中跌超2.5%。季度营收同比增速创新高财报显示，微软2021财年Q3营收417.06亿美元，高于市场预期的410.5亿美元，较上年同期的350.21亿美元，增长19%，创2019财年以来...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/461741.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://img.zhitongcaijing.com/image/20210428/20210428173912_52773.png?x-oss-process=image/format,jpg/quality,Q_80/resize,w_250","relate_stocks":{"09086":"华夏纳指-U","03086":"华夏纳指","MSFT":"微软"},"source_url":"http://www.zhitongcaijing.com/content/detail/461741.html","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2130858377","content_text":"本文来自微信公众号“异观财经”美东时间4月27日盘后，科技巨头微软(MSFT.US)发布了2021财年Q3(2021年第一季度)财报，营收和净利润均超出市场预期，然而微软股价走势却呈现先涨后跌，财报后股价在盘后交易中跌超2.5%。季度营收同比增速创新高财报显示，微软2021财年Q3营收417.06亿美元，高于市场预期的410.5亿美元，较上年同期的350.21亿美元，增长19%，创2019财年以来最大季度增速。(数据来源：微软财报)从上图可以看出，自2019财年第二季度开始，微软季度营收同比增速出现放缓趋势。2020财年Q3，微软营收同比增速15%，高于前三个季度14%的同比增速，到2020财年Q4，营收同比增速减缓到13%，2021财年Q1营收同比增速下降至12%，自2021财年Q12营收增速有所回升。这里需要注意的是，报告企业微软营收较上一季度的194.6亿美元，减少了3%。微软的营收主要来源于产品收入、服务和其他收入。财报显示，2021财年Q3，微软产品收入168.73亿美元，较上年同期的158.71亿美元，增长6%，较上一季度的194.6亿美元，减少13%。报告期内，产品收入贡献的营收占比从上一季度的45%，下降至本季度的40%。服务和其他收入实现248.33亿美元的营收，较上年同期的191.5亿美元，增长30%，较上一季度的236.16亿美元，增长5%，营收占比从一季度的55%上升至本季度的60%。自2020财年Q4开始，产品贡献的营收逐步降低，服务和其他收入同比增速远超产品收入增速，并成为微软最重要的营收来源。(数据来源：微软财报)财报显示，2021财年Q3微软毛利为286.61亿美元，较上年同期的240.46亿美元，增长19%，较上一季度的288.82亿美元，减少1%。2021财年Q3毛利率为69%，略高于上一季度的67%，低于一季度的70%。(数据来源：微软财报)一般情况来说，毛利率越高，说明公司的盈利能力越强。从盈利角度来说，毛利率越高，企业的利润就越大，同时也说明企业的产品具有较好的竞争力，综合来看，微软的毛利率持续稳定在70%左右，保持了较强的盈利能力。运营利润方面，报告期内微软的运营利润为170.48亿美元，较上年同期的129.75亿美元，增长31%，较上一季度的178.97亿美元，减少5%。净利润方面，2021财年Q3净利润为154.57亿美元，较上年同期的107.52亿美元，增长44%，与上一季度的154.63亿美元，基本持平。不按照美国通用会计准则，调整后净利润为148.37亿美元，与去年同期相比增长38%，不计入汇率变动的影响为同比增长32%。财报显示，当季摊薄后每股收益2.03美元，较上年同期的1.40美元，增长45%，高于市场预期的1.78美元。智能云业务连续5个季度成第一大收入来源靠Windows起家的微软，曾错失了移动互联网时代，公司市值从1999年底6000亿美元的历史峰值，到2013年跌去一大半。纳德拉上任后，在领导微软的战略转型中，把云计算服务作为战略布局，2014年至今，微软在云计算、移动应用、智能硬件等领域全面发力，布局虚拟现实、人工智能、量子计算等前沿科技，公司营收也保持了稳定增长。微软的主要业务部门由生产力和业务流程业务部、智能云业务部和个人计算部门构成。2021财年Q3，微软各业务部门的成绩均取得了两位数的增长。财报显示，2021财年Q3，生产力与业务流程部门收入135.52亿美元，较上年同期的117.43亿美元，增长15%，较上一季度的133.53亿美元，增长1%，需要注意的是，该项业务的收入低于市场预期的145.4亿美元。其中，Office商业产品和消费者产品的收入分别增长14%和5%;领英收入同比增长25%，动态产品及云服务收入增长26%。报告期内，生产力与业务流程部门为微软贡献了32%的营收。财报数据显示，2021财年Q3，微软智能云业务营收151.18亿美元，较上年同期的122.81亿美元，增长23%，较上一季度的146.01亿美元，增长4%，贡献了36%的营收，这是智能云业务连续5个季度成为微软第一大收入来源。云业务成为微软营收增长的核心驱动力。事实上，结合微软FY15-FY20的年报数据来看，智能云业务是增长最快的业务。(数据来源：微软财报)微软智能云业务主要包括Azure、企业服务、GitHub和服务器产品等。4月21日，国际研究机构Gartner发布最新《Market Share: IT Services, Worldwide 2020》研究报告，云计算IaaS市场保持高速增长，全球市场规模达到643.9亿美元，同比增长40.7%。市场进一步向头部厂商集中，全球云计算3A格局稳固，亚马逊、微软和阿里云排名全球前三。近五年来，微软市场份额持续上升，从2016年的8.7%上升至2020年的19.7%。4月12日，微软与智能语音识别厂商Nuance宣布已达成最终协议，微软将以197亿美元(约合人民币1290亿元)现金收购Nuance公司，这是微软有史以来的第二大收购案。该收购将加快微软云在医疗健康领域的发展。微软执行副总裁兼首席财务官Amy Hood说：“微软云，以其端到端的解决方案继续为我们的客户提供引人注目的价值，创造177亿美元的商业云收入，同比增长33%。”不过值得注意的是，微软没有披露来自Azure云计算与服务平台的具体营收金额，但财报当中表示，来自Azure的营收增长了50%，间接带动服务器和云服务的营收出现增长。而在第二财季当中，来自Azure的营收增长了50%，第一财季当中则是增长了48%。Wedbush的分析师Dan Ives在财报发布后表示：“尽管Azure的数据超越市场预期，并且这也保持了股价走强的可能，但市场之前期待的是更强的增长。”微软预计第四财季，智能云计算部门销售收入将达到162-164.5亿美元。财报显示，个人计算业务部门收入第三季度收入130.36亿美元，较上年同期的109.97亿美元，增长19%，较上一季度的151.22亿美元，减少了14%。其中，Xbox内容和服务收入增长34%，Windows预装机收入增长10%，搜索广告收入增长17%，而Surface收入增长12%。微软是全球公共卫生事件受益者之一。疫情的反复，人们居家办公推动了云计算和软件订阅业务需求的激增。疫情期间，越来越多企业客户购买了微软的Office办公软件，推动了微软业务营收增长，接下来微软或将持续收益。对于接下来的发展计划，微软CEO萨提亚·纳德拉(Satya Nadella)表示：“疫情爆发一年多来，数字采用的曲线并未放缓，而是正在加速，而这仅仅是个开始。我们正在为未来十年打造云服务，扩大我们的潜在市场，并在技术堆栈的每一层都进行创新，以帮助客户变得有弹性和进行转型。”此外，2021财年第三季度，微软以股票回购和分红的形式向股东返还共计100亿美元。（智通财经编辑：韩永昌）","news_type":1},"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":351214634,"gmtCreate":1616597040628,"gmtModify":1616597040628,"author":{"id":"3516964903272056","authorId":"3516964903272056","name":"_独钓寒江","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3516964903272056","authorIdStr":"3516964903272056"},"themes":[],"htmlText":"太打脸了","listText":"太打脸了","text":"太打脸了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/351214634","repostId":"2121455001","repostType":2,"repost":{"id":"2121455001","kind":"news","pubTimestamp":1616565120,"share":"https://www.laohu8.com/m/news/2121455001?lang=&edition=full","pubTime":"2021-03-24 13:52","market":"hk","language":"zh","title":"汇丰：将腾讯音乐目标价从30美元上调至35美元。","url":"https://stock-news.laohu8.com/highlight/detail?id=2121455001","media":"新浪财经","summary":"汇丰：将腾讯音乐目标价从30美元上调至35美元。","content":"<html><body><a href=\"https://laohu8.com/S/HSBC\">汇丰</a>：将<a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>目标价从30美元上调至35美元。</body></html>","source":"sina_symbol","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>汇丰：将腾讯音乐目标价从30美元上调至35美元。</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n汇丰：将腾讯音乐目标价从30美元上调至35美元。\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-24 13:52 北京时间 <a href=https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/7x24/2021-03-24/doc-ikkntiam7481270.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>汇丰：将腾讯音乐目标价从30美元上调至35美元。</p>\n\n<a href=\"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/7x24/2021-03-24/doc-ikkntiam7481270.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e4cfb506ffb58f1fc2c6e75a4e50dab8","relate_stocks":{"TME":"腾讯音乐"},"source_url":"https://cj.sina.cn/article/normal_detail?url=https://finance.sina.com.cn/7x24/2021-03-24/doc-ikkntiam7481270.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121455001","content_text":"汇丰：将腾讯音乐目标价从30美元上调至35美元。","news_type":1},"isVote":1,"tweetType":1,"viewCount":393,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}
