Microsoft Reports It’s Quarterly Revenue
Tech Giant Microsoft Reports Positive Growth in Quarterly Revenue according to Microsoft’s issued fiscal second quarter results. Company’s revenue grew 12% year in the quarter, ended on Dec. 31.
Microsoft reported slowdown in growth of its crucial servie Azure cloud business despite beating estimates for overall quarterly revenue, sending its shares down 4% in extended trading.
At the company’s Cloud Unit- Azure services, revenue rose to $25.54 billion, missing expectations of $25.76 billion.
As per Reports, Revenue from Azure and other cloud Unit services are 31%, down from 33% in the previous quarter.
Microsoft Reports Positive Growth in Quarterly Revenue in comparison with LSEG estimates:
- Quarterly Revenue: $69.63 billion vs. $68.78 billion expected by LSEG
During the fiscal second quarter, Company announced the Windows 365 Cloud Link, a PC which corporate people can use to access their applications and stored files in cloud.
Microsoft invested an additional $750 million into OpenAI during the quarter, as per the reports.
Company’s productivity business segment, which consist its Office suite and other workplace products, grew 14% to $29.4 billion.
Its personal computing business, driven by its Windows division, remained at same $14.7 billion.