Company reports second-quarter revenues of $81.27bn but posts slowing growth in key cloud computing business
Investor interest in Microsoft’s shares may have weakened in recent months, but the company posted strong financial results on Wednesday that yet again demonstrated that the AI boom is roaring on.
Microsoft reported earnings for the second quarter of fiscal year that are likely to keep the party going for Wall Street, despite slowing growth in its key cloud computing business.
Microsoft reported revenues of $81.27bn against expectations of $80.32bn, and improved from the 12.3% increase it recorded in the same quarter last year. Earnings came in at $4.14 per share against expectations of $3.92.
“We are only at the beginning phases of AI diffusion, and already Microsoft has built an AI business that is larger than some of our biggest franchises,” said Microsoft CEO Satya Nadella. “We are pushing the frontier across our entire AI stack to drive new value for our customers and partners.”
