Azure, Office 365 Light Up Microsoft’s Cloud Business in Fourth Quarter; Maintaining $83 FVE
Microsoft closed fiscal 2017 with a bang, delivering top- and-bottom line results that easily outpaced our expectations. We are beginning to see Microsoft’s cloud business drag consolidated top-line results along with it, and while Commercial Cloud margins remain a drag on profitability, these margins continue to accelerate along an upward trajectory. We are maintaining our wide moat rating, and after incorporating management’s initial guidance for fiscal 2018, we will maintain our $83 fair valu...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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