Microsoft earnings top estimates, but stock falls as investors await forecast

📆 25/7/2023 20:33:00
📰 MarketWatch

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Microsoft easily topped profit and revenue expectations for its latest quarter, though its shares were moving lower in after-hours trading. $MSFT generated fiscal Q4 net income of $20.1 billion, compared with $16.7 billion in the year-earlier period.

Microsoft Corp. easily topped profit and revenue expectations for its latest quarter, though its shares were moving lower in after-hours trading.

Revenue for Microsoft MSFT, +1.70% climbed to $56.2 billion from $51.9 billion, whereas analysts had been expecting $55.5 billion. The company said revenue for Azure and other cloud services was up 26%, or 27% in constant currency. Microsoft’s forecast had been for 26% to 27% in constant-currency Azure sales growth, while the company posted 31% constant-currency growth on the metric in the March period. The FactSet consensus was for 27% growth in constant currency.

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