.July 31, 2024 05:48:00 PM

Microsoft Corporation (NASDAQ:MSFT) saw a 1% dip in shares after reporting fourth-quarter earnings below Wall Street’s cloud revenue growth expectations. Earnings per share were $2.95 on revenue of $64.7 billion, slightly beating analyst estimates. Azure, Microsoft’s cloud division, grew by 29%, falling short of the anticipated 30.2%. Despite increased investment spending, Azure’s growth rate decelerated from the previous quarter. Microsoft’s capital expenditures rose to $19 billion in Q4, up from $14 billion in Q3. Commercial bookings surged 17% year-over-year, but concerns linger over the slowdown in cloud revenue growth.