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Microsoft fiscal Q2 results top estimates amid stronger cloud growth

Investing.com - Microsoft reported Tuesday fiscal second-quarter results that beat analysts' forecasts as growing demand for artificial intelligence continued to bolster growth in the the tech giant's cloud computing business.

Microsoft Corporation (NASDAQ:MSFT) fell nearly 2% in after-hours trading following the report.

Microsoft reported earnings per share of $2.93 on revenue of $62 billion. Analysts polled by Investing.com anticipated EPS of $2.77 on revenue of $61.14B.

The better-than-expected results were underpinned by growth in its cloud business Azure, which grew 30%, beating analyst estimates of 27.5%, driving up growth in its intelligent cloud segment to $25.88B, up 20% and ahead of estimates for $25.27B.

Revenue in productivity and business processes was up 13% to $19.25B, while its personal computing segment saw revenue rise about 19% to $16.89B, with the latter ahead of estimates of $16.80B.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.