Firm’s earnings were up 15% year-on-year, but Azure’s lower returns resulted in share prices falling by as much as 7%Microsoft outperformed analyst predictions in its latest quarterly earnings report, revealing on Tuesday that its revenue was up 15% year-over-year. But growth of the company’s closely watched Azure cloud computing services failed to meet expectations and shares in Microsoft fell as much as 7% in after-hours trading.The company was expected to report steady growth in its fourth quarter earnings report, mostly on the back of its cloud services. Revenue from those services grew 29%, lower than the 30% to 31% that analysts predicted, resulting in a sell-off that exacerbates big tech’s recent market woes. Continue reading…
Source link : https://www.theguardian.com/technology/article/2024/jul/30/mircrosoft-revenue-share-prices-drop
Author : Nick Robins-Early
Publish date : 2024-07-30 21:51:27
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Microsoft beats revenue forecasts but poor performance of cloud services drags share price
