Company’s second-quarter financial results showed a booming cloud business and enormous capital expenditures
Microsoft, the world’s second-most valuable company, is dumping enormous sums of money into its artificial intelligence efforts. At the same time, the company is earning money hand over fist. Investors are thrilled.
The enterprise software giant reported fiscal fourth-quarter results that exceeded expectations on Wednesday as the company races to acquire datacenters and talent, which continues to be investigated by investors. The company predicted its capital expenditure for the next fiscal year would top $100bn, a 14% increase from the year prior.
It’s the fifth quarter in a row that Microsoft has beaten Wall Street’s expectations. Shares in the company, which is celebrating its 50-year anniversary since it was founded by Bill Gates and Paul Allen in Albuquerque, New Mexico, in April 1975, are trading a near record of $513, up 22% since the start of the year.
The software giant’s stock rose more than 7% in extended trading on Wednesday.
