CNBC July 25, 2023
Key Points
– Microsoft called for lower revenue guidance than analysts had predicted, partly because of weakness in the segment that contains Windows.
– Azure cloud revenue growth slowed to 26% from 27% in the previous quarter, surpassing analysts’ expectations.
– The company’s research and development costs declined for the first time since 2016.
Microsoft shares slipped as much as 4% in extended trading on Tuesday after the software maker issued quarterly revenue guidance that fell short of analysts’ expectations.
Here’s how the company did:
- Earnings: $2.69 per share, vs. $2.55 per share as expected by Refinitiv.
- Revenue: $56.19 billion, vs. $55.47 billion as expected by Refinitiv.
On a conference call with analysts, Amy Hood, Microsoft’s finance chief,...
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