Reported 3 months ago
Microsoft's stock dropped more than 7% in after-hours trading following disappointing earnings reports, despite an overall revenue increase of 21%. The company reported a fiscal fourth quarter EPS of $2.95 and revenue of $64.7 billion, outperforming analyst expectations. However, the cloud sector, particularly the Azure services, fell short with Intelligent Cloud revenue at $28.5 billion, missing estimates of $28.7 billion. This setback in AI-driven growth led to broader declines in AI-focused stocks.
Source: YAHOO