"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. Microsoft shares fell 4% in extended trading on Wednesday after the software maker posted slowing cloud growth."
Microsoft posted stronger-than-expected second-quarter fiscal results with $81.27bn in revenue and $4.14 earnings per share, beating analyst forecasts. Revenue growth improved from a 12.3% increase in the same quarter a year earlier. Microsoft portrays its AI business as already larger than some major franchises and is expanding its AI stack to drive new customer and partner value. Azure and cloud growth slowed, triggering a 4% fall in extended trading and contributing to an 11% share decline over recent months amid investor concerns about AI spending returns. The largest tech companies are projected to spend $505bn on AI infrastructure this year.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]