Microsoft to release quarterly results following the market's closure.

• Microsoft's quarterly report on Wednesday is predicted to reveal a year-over-year revenue growth of approximately 14%.
• As of Tuesday's close, the software company's stock has risen by 15% this year, but it is lagging behind the Nasdaq, which has experienced a 25% increase.
• Microsoft has made changes to its reporting practices, leading to a larger Productivity and Business Practices unit.

The company will release its fiscal first quarter results after the close of regular trading on Wednesday.

Here's the LSEG consensus of analysts' expectations:

• Earnings per share: $3.10
• Revenue: $64.51 billion

The quarter ending on June 30 is projected to have a 14% annual growth rate based on the revenue estimate.

Microsoft announced in August that it would adjust the way it reports its business segments to align with its management approach. The Mobility and security services, as well as some Windows revenue, will now be included in the Productivity and Business Processes unit, which also houses Office software.

StreetAccount surveyed analysts who are seeking $27.9 billion in revenue for the segment, which is 36% higher than the $20.45 billion midpoint of the forecast provided by management in July. This projection takes into account the changes.

Azure cloud infrastructure is expected to generate $24.04 billion in revenue for the Intelligent Cloud segment, according to analysts. CNBC predicts a growth rate of 32.8% for Azure, while StreetAccount forecasts 29.4%.

The internet company's cloud business, which competes with Azure, experienced a 34.7% increase in revenue from the previous year to $11.35 billion, surpassing analyst predictions. On Thursday, the leader of the cloud infrastructure market, Amazon Web Services (AWS), will release its earnings report.

Microsoft's More Personal Computing segment is expected to generate $12.56 billion, according to the StreetAccount consensus. Microsoft will reveal a combined growth rate for sales of devices and Windows operating system licenses to device makers. Gartner forecasted that quarterly PC shipments decreased by 1.3%.

In the quarter, Microsoft assisted customers in recovering from a faulty update to security software that affected Windows PCs worldwide. Microsoft announced its plans to partner with BlackRock on an artificial intelligence infrastructure investment fund, aiming for an initial capital of $30 billion.

Microsoft's focus on AI investments will remain a priority for investors as the company expands its infrastructure and increases chip spending to handle heavier workloads. Microsoft is a significant investor in OpenAI, the creator of ChatGPT, which was valued at $157 billion in a recent financing round.

Microsoft had a 15% increase in value by Tuesday's close, while the Nasdaq experienced a 25% growth during the same time frame.

Analysts will receive guidance on the results from executives during a conference call starting at 5:30 p.m. ET.

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