- Microsoft is an American multinational technology corporation producing computer software, consumer electronics, personal computers, and related services.

- The group released 3Q22 results on 26 April 2022.

- Revenue increased by 18.4% to $49.4 billion.

- Operating profit grew by 19.4% to $20.4 billion, with an operating margin flat at 41.3%.

- Russian revenue is less than 1% of Microsoft’s revenue (-$0.01 impact on EPS).

- Management notes that the drive to automate business processes is strong, even in a potential slowdown, given the cost benefits.

- Microsoft is one of the best among the big tech peers.

- However, our valuation suggests Microsoft is fully valued at current levels, and thus, recommend a hold position.

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