Microsoft Beats Q2 Expectations on Cloud Growth
Microsoft Beats Q2 Expectations on Cloud Growth

Microsoft Beats Q2 Expectations on Cloud Growth

Jan. 31, 2024, 9:29 a.m., readers: 24

Microsoft (NASDAQ:MSFT) announced its fiscal second-quarter results on Tuesday, exceeding analysts' expectations. The increase in demand for artificial intelligence played a key role in driving growth in the tech giant's cloud computing segment. Despite the positive report, Microsoft experienced a 1% decline in pre-market today. The company posted earnings per share (EPS) of $2.93 with a revenue of $62 billion. These figures surpassed the EPS of $2.77 and revenue of $61.14 billion anticipated by analysts polled by Investing.com. A significant contributor to Microsoft's strong performance was its cloud business Azure, which saw a 30% growth, exceeding analyst predictions of 27.5%. Additionally, Microsoft's productivity and business processes sector reported a 13% increase in revenue, reaching $19.25 billion. The personal computing segment also witnessed a notable rise, with revenue increasing by about 19% to $16.89 billion.


About NASDAQ: MSFT

M icrosoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide. The company operates in three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Office, Exchange, SharePoint, Microsoft Teams, Office 365 Security and Compliance, Microsoft Viva, and Skype for Business;

Price: 410.31
Market cap: 3.0 trillion USD
Eps: 11.06
P/e ratio: 37.10
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