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© Reuters. Microsoft Earnings, Revenue Beat in Q2
By Yasin Ebrahim
Investing.com - Microsoft (NASDAQ:MSFT) slumped afterhours Tuesday even as the tech giant rolled out second quarter results that beat analysts' forecasts, led by its cloud computing business.
Microsoft shares lost 4% in after-hours trading following the report.
Microsoft announced earnings per share of $2.48 on revenue of $51.73 billion. Analysts polled by Investing.com anticipated EPS of $2.31 on revenue of $50.65 billion.
Revenue in productivity and business processes was up 19% to $15.9 billion and its intelligent cloud business, which includes cloud business Azure, grew 26% to $18.3 billion.
The company said Azure grew 46% in the quarter.
"Solid commercial execution, represented by strong bookings growth driven by long-term Azure commitments, increased Microsoft Cloud revenue to $22.1 billion, up 32% year over year” said Amy Hood, executive vice president and chief financial officer of Microsoft.
Revenue in personal computing meanwhile, was up 15% to $17.5 billion.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar
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