Microsoft Results Beat in Q2, Led by Cloud Computing Growth By Investing.com

Microsoft Results Beat in Q2, Led by Cloud Computing Growth

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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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