Microsoft Shares Slide After Q2 Results, Cloud Revenue Misses Expectations: Details

Microsoft Corp. (NASDAQ:MSFT) reported its second-quarter financial results after Wednesday's closing bell. Here's a look at the key figures from the quarter. 

The Details: Microsoft reported quarterly GAAP earnings of $3.23 per share, beating the $3.11 consensus estimate. Quarterly revenue clocked in at $69.6 billion, beating the $68.78 billion analyst consensus estimate.

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• Revenue in Microsoft’s Intelligent Cloud segment was $25.5 billion and increased 19%. Within Intelligent Cloud, server products and cloud services revenue increased 21% driven by Azure and other cloud services revenue growth of 31%.
• Revenue in the Productivity and Business Processes segment was $29.4 billion, an increase of 14%.
• Revenue in More Personal Computing was relatively unchanged at $14.7 billion.
• Microsoft’s capital expenditures were $22.6 billion in the second quarter.

"We are innovating across our tech stack and helping customers unlock the full ROI of AI to capture the massive opportunity ahead,” said Satya Nadella, CEO of Microsoft. "Already, our AI business has surpassed an annual revenue run rate of $13 billion, up 175% year-over-year."

"This quarter Microsoft Cloud revenue was $40.9 billion, up 21% year-over-year," said Amy Hood, executive vice president and CFO of Microsoft. "We remain committed to balancing operational discipline with continued investments in our cloud and AI infrastructure."

Microsoft will host a conference call to discuss the results and provide forward-looking guidance at 5:30 p.m. ET.

MSFT Price Action: According to data from Benzinga Pro, Microsoft shares are down 1.43% after-hours at $436.32 on Wednesday.  

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