Microsoft beats expectations in quarterly results but offers softer guidance, impacting after-hours trading

From CNBC: 2024-10-30 21:02:01

Microsoft exceeded expectations in its quarterly results, with a 16% year-over-year increase in revenue to $65.56 billion. Earnings per share also rose 10% to $3.30, surpassing estimates. The company is a leader in AI tools and cloud services, with notable growth in its Azure business. However, guidance for the next quarter fell slightly short of expectations, impacting after-hours trading. Microsoft is navigating through capacity constraints in its cloud business, with plans to increase capital expenditures to meet demand signals. The company remains a key player in the industry, despite competition in the AI space.



Read more at CNBC:: We reiterate our 1 rating on Microsoft despite its softer guidance