Microsoft slips even as Q4 results surpass estimates
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Microsoft (NASDAQ:MSFT) shares fell around 2% in extended hours even as tech giant reported fiscal fourth-quarter results that topped expectations.
For the period ending June 30, Microsoft (MSFT) earned $2.69 on $56.2B in revenue. Included in that was $23.99B from its Intelligent Cloud division, which is comprised of its Azure cloud unit. Microsoft said Azure revenue grew 26% year-over-year, or 27% in constant currency.
The Redmond, Washington-based tech giant also said personal computing revenue came in at $13.91B, while productivity and business processes sales came in at $18.29B.
Included in Productivity and Business Processes was a 12% year-over-year rise in Office Commercial, while Dynamics 365 saw revenue growth of 26% over the same time frame. LinkedIn, its business-focused social network, had a 5% jump in sales, or 7% in constant currency.
A consensus of analysts expected Microsoft (MSFT) to earn $2.55 per share on $55.49B in revenue.
In a statement, Microsoft (MSFT) CEO Satya Nadella said organizations are quickly applying the next generation of artificial intellgence.
"We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend, and driving operating leverage."
The company will host a conference call at 5:30 p.m. EST to discuss the results.
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