Updated at 4:46 pm EST
Microsoft (MSFT) – Get Free Report posted better-than-expected second quarter earnings late Tuesday, with secure progress charges for its key cloud computing division, sending its shares firmly larger in after hours buying and selling.
Microsoft mentioned revenues for Azure, its flagship cloud division, rose 31% from final 12 months, topping Street forecasts however slowing from earlier features within the mid to excessive 40-percent vary as corporations proceed to tug again on digital infrastructure spending and the greenback continued its 2022 climb.
Overall group revenues rose 1.9% to $52.7 billion for the three months ending in December, Microsoft’s fiscal second quarter, coming in simply shy of analysts’ estimates of a $52.97 billion tally.
Microsoft’s backside fell 12% to $16.4 billion whereas adjusted earnings fell 6.5% from final 12 months to $2.32 per share, simply forward of the Street consensus forecast of $2.30 per share.
Productivity and enterprise division revenues, which incorporates Office 365, rose 7% to…
2023-01-24 16:16:00 Microsoft Stock Leaps After Topping Earnings Forecast On Cloud Gains
Link from www.thestreet.com