Reported 26 days ago
Microsoft's stock experienced its largest drop in two years after the company projected a slowdown in quarterly revenue growth for its Azure cloud services, which is attributed to difficulties in expanding data center capacity to meet rising demand for AI capabilities. Although Microsoft's overall first-quarter earnings report was positive, with a revenue increase of 16% to $65.6 billion, the forecast of a slower growth rate for Azure raised concerns among investors, leading to a 6% decrease in share value.
Source: YAHOO