Microsoft Sales Top Estimates; Cloud Growth Disappoints Some

Company posted its strongest revenue growth since 2022
But the ‘healthy’ results were not enough to ‘appease’ market

Microsoft Corp. revenue rose by 18% in the second quarter, but growth in its cloud computing business may have disappointed some investors. Anurag Rana of Bloomberg Intelligence reacts to the numbers.Source: Bloomberg

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By Dina Bass and Jackie Davalos

January 30, 2024 at 9:12 PM UTC

Updated on

January 30, 2024 at 11:40 PM UTC

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Microsoft Corp. posted its strongest revenue growth since 2022, spurred by interest in new artificial intelligence products that in turn are driving renewed spending on cloud computing.

Revenue in the second quarter, which ended Dec. 31, rose 18% to $62 billion, while profit was $2.93 a share, the company said in a statement Tuesday. Analysts polled by Bloomberg on average estimated per-share earnings of $2.78 on sales of $61.1 billion.